M&T Bank Corp Sells 5,488 Shares of Tractor Supply (NASDAQ:TSCO)

M&T Bank Corp reduced its stake in Tractor Supply (NASDAQ:TSCO - Free Report) by 8.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 62,225 shares of the specialty retailer's stock after selling 5,488 shares during the quarter. M&T Bank Corp owned approximately 0.06% of Tractor Supply worth $13,380,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP increased its holdings in Tractor Supply by 9,370.6% in the 3rd quarter. Wellington Management Group LLP now owns 2,822,151 shares of the specialty retailer's stock valued at $573,038,000 after acquiring an additional 2,792,352 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Tractor Supply by 76.7% in the 3rd quarter. Invesco Ltd. now owns 2,024,182 shares of the specialty retailer's stock valued at $411,010,000 after acquiring an additional 878,874 shares during the period. Alecta Tjanstepension Omsesidigt increased its holdings in shares of Tractor Supply by 87.5% in the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 750,000 shares of the specialty retailer's stock valued at $161,272,000 after acquiring an additional 350,000 shares during the period. International Assets Investment Management LLC boosted its position in shares of Tractor Supply by 32,987.5% in the 4th quarter. International Assets Investment Management LLC now owns 270,325 shares of the specialty retailer's stock worth $58,128,000 after purchasing an additional 269,508 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of Tractor Supply by 22.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,148,340 shares of the specialty retailer's stock worth $233,170,000 after purchasing an additional 210,131 shares in the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

Tractor Supply Stock Performance

TSCO stock traded up $3.51 during midday trading on Friday, reaching $270.21. 1,135,143 shares of the company were exchanged, compared to its average volume of 1,174,176. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.40 and a quick ratio of 0.19. The business has a 50-day moving average price of $255.80 and a two-hundred day moving average price of $229.15. Tractor Supply has a one year low of $185.00 and a one year high of $279.38. The firm has a market capitalization of $29.16 billion, a price-to-earnings ratio of 26.31, a price-to-earnings-growth ratio of 3.41 and a beta of 0.82.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.83 EPS for the quarter, beating analysts' consensus estimates of $1.70 by $0.13. The business had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.40 billion. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. Tractor Supply's revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.65 earnings per share. Equities research analysts forecast that Tractor Supply will post 10.3 EPS for the current year.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.63%. This is a boost from Tractor Supply's previous quarterly dividend of $1.03. The ex-dividend date was Friday, February 23rd. Tractor Supply's dividend payout ratio is presently 42.84%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. JPMorgan Chase & Co. boosted their price objective on Tractor Supply from $241.00 to $263.00 and gave the stock a "neutral" rating in a research note on Friday. Truist Financial upped their price objective on Tractor Supply from $277.00 to $289.00 and gave the stock a "buy" rating in a research report on Friday, April 26th. Telsey Advisory Group upped their price objective on Tractor Supply from $280.00 to $305.00 and gave the stock an "outperform" rating in a research report on Wednesday. Wedbush reissued a "neutral" rating and issued a $235.00 target price on shares of Tractor Supply in a report on Tuesday, April 23rd. Finally, Morgan Stanley raised their price objective on Tractor Supply from $195.00 to $235.00 and gave the stock an "underweight" rating in a report on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $253.54.

Insiders Place Their Bets

In related news, CFO Kurt D. Barton sold 4,335 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $257.00, for a total value of $1,114,095.00. Following the completion of the sale, the chief financial officer now directly owns 20,678 shares of the company's stock, valued at approximately $5,314,246. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Tractor Supply news, EVP Robert D. Mills sold 48,334 shares of the firm's stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $232.23, for a total value of $11,224,604.82. Following the completion of the transaction, the executive vice president now owns 22,167 shares in the company, valued at approximately $5,147,842.41. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kurt D. Barton sold 4,335 shares of the firm's stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $257.00, for a total value of $1,114,095.00. Following the completion of the sale, the chief financial officer now directly owns 20,678 shares in the company, valued at approximately $5,314,246. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,090 shares of company stock worth $21,201,877. Corporate insiders own 0.24% of the company's stock.

Tractor Supply Profile

Tractor Supply Company operates as a rural lifestyle retailer in the United States. The company offers various merchandise, including livestock and equine feed and equipment, poultry, fencing, and sprayers and chemicals; food, treats, and equipment for dogs, cats, and other small animals, as well as dog wellness products; seasonal and recreation products comprising tractors and riders, lawn and garden, bird feeding, power equipment, and other recreational products; truck, tool, and hardware products, such as truck accessories, trailers, generators, lubricants, batteries, and hardware and tools; and clothing, gift, and décor products consist of clothing, footwear, toys, snacks, and decorative merchandise.