Guggenheim Capital LLC Reduces Stock Position in Tractor Supply (NASDAQ:TSCO)

Guggenheim Capital LLC decreased its holdings in Tractor Supply (NASDAQ:TSCO) by 17.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,474 shares of the specialty retailer’s stock after selling 1,578 shares during the quarter. Guggenheim Capital LLC’s holdings in Tractor Supply were worth $1,757,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. California Public Employees Retirement System grew its holdings in Tractor Supply by 14.6% in the 4th quarter. California Public Employees Retirement System now owns 317,982 shares of the specialty retailer’s stock valued at $71,536,000 after buying an additional 40,400 shares during the period. ETF Managers Group LLC grew its holdings in Tractor Supply by 4.1% in the 4th quarter. ETF Managers Group LLC now owns 3,076 shares of the specialty retailer’s stock valued at $692,000 after buying an additional 120 shares during the period. Texas Permanent School Fund Corp grew its holdings in Tractor Supply by 46.7% in the 1st quarter. Texas Permanent School Fund Corp now owns 23,030 shares of the specialty retailer’s stock valued at $5,413,000 after buying an additional 7,335 shares during the period. Welch & Forbes LLC grew its holdings in Tractor Supply by 5.4% in the 1st quarter. Welch & Forbes LLC now owns 76,307 shares of the specialty retailer’s stock valued at $17,935,000 after buying an additional 3,882 shares during the period. Finally, KBC Group NV lifted its stake in shares of Tractor Supply by 8.4% in the 1st quarter. KBC Group NV now owns 30,139 shares of the specialty retailer’s stock valued at $7,084,000 after purchasing an additional 2,329 shares in the last quarter. Hedge funds and other institutional investors own 90.38% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on TSCO shares. Wells Fargo & Company reduced their price objective on Tractor Supply from $270.00 to $255.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 18th. Robert W. Baird reduced their price objective on Tractor Supply from $265.00 to $260.00 in a research note on Tuesday, July 18th. Benchmark reaffirmed a “buy” rating and issued a $256.00 price objective on shares of Tractor Supply in a research note on Monday, July 24th. Truist Financial reduced their price objective on Tractor Supply from $280.00 to $275.00 in a research note on Wednesday, July 12th. Finally, Wedbush reduced their price objective on Tractor Supply from $240.00 to $230.00 and set a “neutral” rating on the stock in a research note on Friday, July 28th. Ten equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $247.35.

Tractor Supply Price Performance

TSCO stock opened at $218.50 on Friday. Tractor Supply has a 52-week low of $181.40 and a 52-week high of $251.17. The company has a quick ratio of 0.41, a current ratio of 1.60 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $23.77 billion, a PE ratio of 21.83, a P/E/G ratio of 2.74 and a beta of 0.81. The stock’s 50 day moving average is $219.19 and its two-hundred day moving average is $226.63.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Thursday, July 27th. The specialty retailer reported $3.83 earnings per share for the quarter, missing analysts’ consensus estimates of $3.91 by ($0.08). Tractor Supply had a net margin of 7.52% and a return on equity of 55.57%. The firm had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.26 billion. During the same quarter last year, the firm posted $3.53 earnings per share. Tractor Supply’s revenue was up 7.2% compared to the same quarter last year. Analysts predict that Tractor Supply will post 10.27 earnings per share for the current fiscal year.

Tractor Supply Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Monday, August 28th will be paid a dividend of $1.03 per share. The ex-dividend date is Friday, August 25th. This represents a $4.12 dividend on an annualized basis and a yield of 1.89%. Tractor Supply’s payout ratio is currently 41.16%.

Insider Buying and Selling

In related news, CFO Kurt D. Barton sold 7,487 shares of the company’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $222.43, for a total transaction of $1,665,333.41. Following the completion of the transaction, the chief financial officer now directly owns 19,574 shares in the company, valued at approximately $4,353,844.82. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.24% of the stock is owned by company insiders.

About Tractor Supply

Tractor Supply Company operates as a rural lifestyle retailer in the United States. The company offers a selection of merchandise, including equine, livestock, pet, and small animal products necessary for their health, care, growth, and containment; hardware, truck, towing, and tool products; seasonal products, such as heating products, lawn and garden items, power equipment, gifts, and toys; work/recreational clothing and footwear; and maintenance products for agricultural and rural use.