Allspring Global Investments Holdings LLC Cuts Stock Position in Tractor Supply (NASDAQ:TSCO)

Allspring Global Investments Holdings LLC trimmed its position in shares of Tractor Supply (NASDAQ:TSCO) by 3.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,269 shares of the specialty retailer’s stock after selling 1,466 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Tractor Supply were worth $8,014,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TSCO. LPL Financial LLC grew its holdings in shares of Tractor Supply by 4.6% in the third quarter. LPL Financial LLC now owns 113,873 shares of the specialty retailer’s stock valued at $23,122,000 after purchasing an additional 5,014 shares in the last quarter. Simon Quick Advisors LLC increased its position in shares of Tractor Supply by 21.1% during the third quarter. Simon Quick Advisors LLC now owns 1,551 shares of the specialty retailer’s stock worth $315,000 after acquiring an additional 270 shares during the period. International Assets Investment Management LLC raised its stake in shares of Tractor Supply by 32,987.5% in the fourth quarter. International Assets Investment Management LLC now owns 270,325 shares of the specialty retailer’s stock valued at $58,128,000 after acquiring an additional 269,508 shares in the last quarter. Copeland Capital Management LLC boosted its holdings in Tractor Supply by 397.6% in the fourth quarter. Copeland Capital Management LLC now owns 5,090 shares of the specialty retailer’s stock valued at $1,095,000 after purchasing an additional 4,067 shares during the period. Finally, Natixis Advisors L.P. grew its stake in Tractor Supply by 8.7% during the 3rd quarter. Natixis Advisors L.P. now owns 55,947 shares of the specialty retailer’s stock worth $11,360,000 after purchasing an additional 4,469 shares in the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tractor Supply

In other Tractor Supply news, CFO Kurt D. Barton sold 401 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $232.06, for a total value of $93,056.06. Following the completion of the transaction, the chief financial officer now directly owns 25,013 shares of the company’s stock, valued at $5,804,516.78. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Harry A. Lawton III sold 20,500 shares of Tractor Supply stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $232.93, for a total transaction of $4,775,065.00. Following the completion of the transaction, the chief executive officer now owns 95,192 shares of the company’s stock, valued at approximately $22,173,072.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kurt D. Barton sold 401 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $232.06, for a total transaction of $93,056.06. Following the completion of the sale, the chief financial officer now owns 25,013 shares in the company, valued at $5,804,516.78. The disclosure for this sale can be found here. Insiders sold 90,090 shares of company stock worth $21,201,877 over the last 90 days. Company insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Evercore ISI reduced their price target on Tractor Supply from $280.00 to $275.00 and set an “outperform” rating on the stock in a research report on Tuesday. Truist Financial raised their target price on shares of Tractor Supply from $256.00 to $277.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Wells Fargo & Company boosted their price target on shares of Tractor Supply from $250.00 to $285.00 and gave the stock an “overweight” rating in a report on Monday, March 25th. Barclays raised their price objective on shares of Tractor Supply from $192.00 to $234.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, Raymond James downgraded shares of Tractor Supply from a “strong-buy” rating to an “outperform” rating and boosted their target price for the stock from $230.00 to $250.00 in a research note on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $240.57.

Tractor Supply Stock Performance

NASDAQ TSCO opened at $247.39 on Thursday. The company has a current ratio of 1.50, a quick ratio of 0.28 and a debt-to-equity ratio of 0.82. The business’s 50 day moving average is $249.23 and its two-hundred day moving average is $224.12. The stock has a market capitalization of $26.70 billion, a price-to-earnings ratio of 24.52, a PEG ratio of 3.68 and a beta of 0.84. Tractor Supply has a 12-month low of $185.00 and a 12-month high of $268.02.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings data on Thursday, February 1st. The specialty retailer reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.06. Tractor Supply had a return on equity of 53.60% and a net margin of 7.61%. The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same quarter in the prior year, the company posted $2.43 earnings per share. Tractor Supply’s quarterly revenue was down 8.6% on a year-over-year basis. Research analysts expect that Tractor Supply will post 10.19 EPS for the current year.

Tractor Supply Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were paid a $1.10 dividend. This is a boost from Tractor Supply’s previous quarterly dividend of $1.03. The ex-dividend date was Friday, February 23rd. This represents a $4.40 annualized dividend and a dividend yield of 1.78%. Tractor Supply’s dividend payout ratio (DPR) is 43.61%.

Tractor Supply Company 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.