Tractor Supply (NASDAQ:TSCO) Shares Sold by Thematics Asset Management

Thematics Asset Management lessened its stake in shares of Tractor Supply (NASDAQ:TSCO) by 12.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 16,476 shares of the specialty retailer’s stock after selling 2,428 shares during the quarter. Thematics Asset Management’s holdings in Tractor Supply were worth $4,793,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of TSCO. Assenagon Asset Management S.A. lifted its holdings in shares of Tractor Supply by 527.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 26,501 shares of the specialty retailer’s stock valued at $7,155,000 after purchasing an additional 22,279 shares during the last quarter. Ballentine Partners LLC boosted its holdings in shares of Tractor Supply by 2.1% in the second quarter. Ballentine Partners LLC now owns 4,504 shares of the specialty retailer’s stock valued at $1,216,000 after acquiring an additional 93 shares during the period. Silvant Capital Management LLC grew its position in shares of Tractor Supply by 20.9% during the third quarter. Silvant Capital Management LLC now owns 14,781 shares of the specialty retailer’s stock worth $4,300,000 after acquiring an additional 2,556 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of Tractor Supply by 199.0% in the 1st quarter. Cetera Investment Advisers now owns 35,771 shares of the specialty retailer’s stock valued at $9,362,000 after acquiring an additional 23,806 shares during the period. Finally, Sanctuary Advisors LLC purchased a new stake in Tractor Supply in the 2nd quarter valued at $13,353,000. 98.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on TSCO. Wells Fargo & Company dropped their price objective on shares of Tractor Supply from $325.00 to $320.00 and set an “overweight” rating on the stock in a research note on Monday. Evercore ISI raised Tractor Supply from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 15th. Piper Sandler boosted their target price on Tractor Supply from $300.00 to $332.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Truist Financial cut their price target on Tractor Supply from $325.00 to $317.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Finally, Benchmark lifted their price objective on shares of Tractor Supply from $280.00 to $310.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Tractor Supply has an average rating of “Moderate Buy” and a consensus price target of $282.59.

Insiders Place Their Bets

In related news, CFO Kurt D. Barton sold 23,532 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $295.64, for a total value of $6,957,000.48. Following the completion of the sale, the chief financial officer now directly owns 9,683 shares in the company, valued at approximately $2,862,682.12. The trade was a 70.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.58% of the stock is owned by corporate insiders.

Tractor Supply Price Performance

Shares of Tractor Supply stock traded up $5.36 during trading on Tuesday, hitting $285.99. 1,756,460 shares of the company were exchanged, compared to its average volume of 1,053,260. The firm has a 50 day moving average price of $284.23 and a 200 day moving average price of $275.68. The stock has a market capitalization of $30.56 billion, a price-to-earnings ratio of 27.82, a P/E/G ratio of 3.53 and a beta of 0.82. The company has a quick ratio of 0.17, a current ratio of 1.48 and a debt-to-equity ratio of 0.81. Tractor Supply has a fifty-two week low of $197.00 and a fifty-two week high of $307.64.

Tractor Supply Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be issued a dividend of $1.10 per share. The ex-dividend date is Monday, November 25th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.54%. Tractor Supply’s dividend payout ratio (DPR) is presently 42.80%.

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.