Citigroup Inc. Sells 793,920 Shares of Tractor Supply Company $TSCO

Citigroup Inc. reduced its stake in Tractor Supply Company (NASDAQ:TSCO) by 45.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 954,238 shares of the specialty retailer’s stock after selling 793,920 shares during the quarter. Citigroup Inc. owned approximately 0.18% of Tractor Supply worth $54,267,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Delos Wealth Advisors LLC bought a new position in shares of Tractor Supply in the second quarter valued at approximately $26,000. Financial Gravity Companies Inc. acquired a new position in Tractor Supply in the 2nd quarter valued at $38,000. Clayton Financial Group LLC bought a new position in Tractor Supply in the 3rd quarter worth $44,000. First Horizon Corp acquired a new position in Tractor Supply during the 3rd quarter worth $44,000. Finally, Evelyn Partners Asset Management Ltd acquired a new position in Tractor Supply during the 2nd quarter worth $46,000. Institutional investors own 98.72% of the company’s stock.

Tractor Supply Stock Performance

TSCO opened at $53.89 on Tuesday. The stock’s 50 day simple moving average is $52.43 and its 200-day simple moving average is $55.15. The company has a current ratio of 1.34, a quick ratio of 0.16 and a debt-to-equity ratio of 0.70. The stock has a market cap of $28.37 billion, a PE ratio of 26.03, a P/E/G ratio of 2.65 and a beta of 0.74. Tractor Supply Company has a 1 year low of $46.85 and a 1 year high of $63.99.

Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Thursday, January 29th. The specialty retailer reported $0.43 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.03). The firm had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $4.03 billion. Tractor Supply had a return on equity of 44.36% and a net margin of 7.06%.The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the business earned $0.44 earnings per share. Sell-side analysts forecast that Tractor Supply Company will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, February 24th. This is an increase from Tractor Supply’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 1.8%. Tractor Supply’s payout ratio is presently 44.44%.

Insiders Place Their Bets

In related news, CEO Harry A. Lawton III sold 84,670 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $53.16, for a total value of $4,501,057.20. Following the completion of the transaction, the chief executive officer owned 606,842 shares of the company’s stock, valued at $32,259,720.72. This represents a 12.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kurt D. Barton sold 1,884 shares of Tractor Supply stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $53.81, for a total value of $101,378.04. Following the sale, the chief financial officer directly owned 52,562 shares in the company, valued at $2,828,361.22. The trade was a 3.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 222,348 shares of company stock valued at $11,959,621 over the last 90 days. Company insiders own 0.65% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TSCO. Truist Financial set a $55.00 price target on Tractor Supply and gave the company a “hold” rating in a research report on Friday, January 16th. Wolfe Research reaffirmed an “outperform” rating and issued a $57.00 target price on shares of Tractor Supply in a report on Friday, January 30th. TD Cowen dropped their price target on Tractor Supply from $55.00 to $53.00 and set a “hold” rating on the stock in a research report on Friday, January 30th. Morgan Stanley reduced their price objective on Tractor Supply from $60.00 to $57.00 and set an “equal weight” rating for the company in a research report on Friday, January 30th. Finally, Mizuho lowered their price objective on shares of Tractor Supply from $65.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, January 30th. Fifteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $59.78.

Tractor Supply Company Profile

Tractor Supply Company (NASDAQ: TSCO) is a specialty retailer focused on products for the home, farm, ranch and outdoors. The company operates a network of physical retail locations complemented by an e-commerce platform, offering a one-stop source of supplies and equipment for customers with rural and suburban lifestyles. Its merchandise assortment targets a range of needs, from animal and livestock care to maintenance, outdoor power equipment, and seasonal products.

Product categories include animal feed and supplies, pet products, fencing and fencing supplies, equine equipment, lawn and garden tools, work clothing and footwear, and small agricultural and outdoor power equipment.