Chevy Chase Trust Holdings Inc. Cuts Position in Tractor Supply (NASDAQ:TSCO)

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Chevy Chase Trust Holdings Inc. cut its stake in Tractor Supply (NASDAQ:TSCO) by 1.1% during the third quarter, HoldingsChannel reports. The fund owned 102,880 shares of the specialty retailer’s stock after selling 1,118 shares during the quarter. Chevy Chase Trust Holdings Inc.’s holdings in Tractor Supply were worth $9,304,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Nuveen Asset Management LLC grew its stake in Tractor Supply by 417.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 958,613 shares of the specialty retailer’s stock worth $104,297,000 after buying an additional 773,332 shares during the last quarter. Invesco Ltd. grew its stake in Tractor Supply by 56.6% during the 2nd quarter. Invesco Ltd. now owns 1,438,362 shares of the specialty retailer’s stock worth $156,492,000 after buying an additional 520,058 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Tractor Supply during the 2nd quarter worth $32,607,000. Massachusetts Financial Services Co. MA grew its stake in Tractor Supply by 8.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,791,079 shares of the specialty retailer’s stock worth $252,426,000 after buying an additional 226,050 shares during the last quarter. Finally, DNB Asset Management AS grew its stake in Tractor Supply by 21.6% during the 3rd quarter. DNB Asset Management AS now owns 1,162,006 shares of the specialty retailer’s stock worth $105,092,000 after buying an additional 206,554 shares during the last quarter. Institutional investors and hedge funds own 83.23% of the company’s stock.

A number of analysts have commented on TSCO shares. Northcoast Research raised Tractor Supply from a “neutral” rating to a “buy” rating and set a $110.00 price target for the company in a research report on Wednesday, October 2nd. BidaskClub cut Tractor Supply from a “buy” rating to a “hold” rating in a research report on Saturday, September 14th. Piper Jaffray Companies set a $113.00 price target on Tractor Supply and gave the stock a “buy” rating in a research report on Friday, October 25th. Nomura started coverage on Tractor Supply in a research report on Friday, November 8th. They set a “neutral” rating and a $100.00 price target for the company. Finally, Wedbush reaffirmed an “outperform” rating and set a $115.00 price target (up previously from $105.00) on shares of Tractor Supply in a research report on Friday, October 25th. Twelve investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Tractor Supply has a consensus rating of “Buy” and an average target price of $108.19.

Shares of TSCO stock opened at $94.44 on Monday. The stock has a market cap of $11.30 billion, a PE ratio of 21.91, a price-to-earnings-growth ratio of 1.83 and a beta of 1.03. The business has a 50-day simple moving average of $95.61 and a 200-day simple moving average of $101.26. The company has a quick ratio of 0.15, a current ratio of 1.60 and a debt-to-equity ratio of 1.75. Tractor Supply has a 52-week low of $78.67 and a 52-week high of $114.25.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings data on Thursday, October 24th. The specialty retailer reported $1.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.03 by ($0.01). The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $2 billion. Tractor Supply had a net margin of 6.69% and a return on equity of 36.64%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the firm earned $0.95 EPS. Sell-side analysts anticipate that Tractor Supply will post 4.71 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be issued a $0.35 dividend. The ex-dividend date is Friday, November 22nd. This represents a $1.40 annualized dividend and a dividend yield of 1.48%. Tractor Supply’s dividend payout ratio (DPR) is presently 32.48%.

In other news, SVP Chad Michael Frazell sold 13,441 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $98.49, for a total value of $1,323,804.09. Insiders own 1.50% of the company’s stock.

Tractor Supply Company Profile

Tractor Supply Company operates rural lifestyle retail stores 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.

Further Reading: How does a 12b-1 fee affect fund performance?

Want to see what other hedge funds are holding TSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tractor Supply (NASDAQ:TSCO).

Institutional Ownership by Quarter for Tractor Supply (NASDAQ:TSCO)

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