Fifth Third Bancorp Has $1.18 Million Stake in Tractor Supply (NASDAQ:TSCO)

Fifth Third Bancorp decreased its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 3.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,362 shares of the specialty retailer’s stock after selling 151 shares during the period. Fifth Third Bancorp’s holdings in Tractor Supply were worth $1,178,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of TSCO. Vanguard Group Inc. lifted its position in shares of Tractor Supply by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 12,804,873 shares of the specialty retailer’s stock valued at $2,753,432,000 after purchasing an additional 48,439 shares in the last quarter. Capital International Investors boosted its stake in Tractor Supply by 7.6% during the fourth quarter. Capital International Investors now owns 6,233,852 shares of the specialty retailer’s stock valued at $1,340,589,000 after buying an additional 439,954 shares during the period. Capital World Investors boosted its position in shares of Tractor Supply by 10.0% during the 4th quarter. Capital World Investors now owns 5,849,188 shares of the specialty retailer’s stock valued at $1,257,751,000 after acquiring an additional 531,170 shares during the last quarter. Wellington Management Group LLP grew its stake in Tractor Supply by 63.2% in the 4th quarter. Wellington Management Group LLP now owns 4,606,455 shares of the specialty retailer’s stock worth $990,526,000 after buying an additional 1,784,304 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Tractor Supply by 12.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,330,621 shares of the specialty retailer’s stock worth $871,691,000 after acquiring an additional 368,859 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TSCO. Wells Fargo & Company upped their target price on Tractor Supply from $285.00 to $295.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. Robert W. Baird lifted their target price on shares of Tractor Supply from $260.00 to $285.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Piper Sandler upped their price target on shares of Tractor Supply from $265.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, April 29th. Evercore ISI cut their price target on shares of Tractor Supply from $290.00 to $280.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Finally, Benchmark reaffirmed a “buy” rating and set a $280.00 price objective on shares of Tractor Supply in a research note on Friday, July 26th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Tractor Supply presently has a consensus rating of “Hold” and a consensus target price of $256.58.

Tractor Supply Stock Performance

Shares of TSCO stock opened at $265.28 on Friday. The company’s fifty day moving average price is $267.21 and its 200-day moving average price is $261.72. The stock has a market cap of $28.60 billion, a PE ratio of 25.83, a price-to-earnings-growth ratio of 3.31 and a beta of 0.81. The company has a current ratio of 1.43, a quick ratio of 0.25 and a debt-to-equity ratio of 0.76. Tractor Supply has a 12 month low of $185.00 and a 12 month high of $290.38.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data on Thursday, July 25th. The specialty retailer reported $3.93 EPS for the quarter, hitting the consensus estimate of $3.93. Tractor Supply had a net margin of 7.65% and a return on equity of 51.84%. The business had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same quarter in the previous year, the firm posted $3.83 earnings per share. Tractor Supply’s quarterly revenue was up 1.6% on a year-over-year basis. On average, equities analysts expect that Tractor Supply will post 10.23 EPS for the current fiscal year.

Tractor Supply Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th will be issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Monday, August 26th. Tractor Supply’s dividend payout ratio (DPR) is 42.84%.

Insider Transactions at Tractor Supply

In other news, SVP Matthew L. Rubin sold 540 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $262.35, for a total transaction of $141,669.00. Following the completion of the transaction, the senior vice president now directly owns 5,170 shares in the company, valued at $1,356,349.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.24% of the company’s stock.

About Tractor Supply

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.