Sumitomo Mitsui Trust Holdings Inc. Sells 23,391 Shares of Tractor Supply (NASDAQ:TSCO)

Sumitomo Mitsui Trust Holdings Inc. lessened its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 7.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 285,811 shares of the specialty retailer’s stock after selling 23,391 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.26% of Tractor Supply worth $61,458,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Synovus Financial Corp raised its position in shares of Tractor Supply by 1.9% in the first quarter. Synovus Financial Corp now owns 5,006 shares of the specialty retailer’s stock valued at $1,166,000 after purchasing an additional 93 shares during the period. Cibc World Market Inc. raised its holdings in Tractor Supply by 10.4% in the 1st quarter. Cibc World Market Inc. now owns 12,622 shares of the specialty retailer’s stock valued at $2,946,000 after acquiring an additional 1,186 shares during the period. Sei Investments Co. lifted its position in Tractor Supply by 12.1% during the first quarter. Sei Investments Co. now owns 75,163 shares of the specialty retailer’s stock worth $17,565,000 after acquiring an additional 8,129 shares during the last quarter. Prudential PLC acquired a new stake in Tractor Supply during the first quarter worth approximately $611,000. Finally, Cetera Investment Advisers boosted its holdings in shares of Tractor Supply by 15.8% during the first quarter. Cetera Investment Advisers now owns 6,238 shares of the specialty retailer’s stock worth $1,456,000 after acquiring an additional 849 shares during the period. Institutional investors own 98.72% of the company’s stock.

Insider Buying and Selling at Tractor Supply

In other news, EVP Colin Yankee sold 8,675 shares of Tractor Supply stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $250.00, for a total value of $2,168,750.00. Following the completion of the transaction, the executive vice president now directly owns 9,673 shares of the company’s stock, valued at approximately $2,418,250. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Colin Yankee sold 8,675 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $250.00, for a total transaction of $2,168,750.00. Following the completion of the sale, the executive vice president now owns 9,673 shares of the company’s stock, valued at approximately $2,418,250. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kurt D. Barton sold 4,335 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $257.00, for a total transaction of $1,114,095.00. Following the transaction, the chief financial officer now owns 20,678 shares in the company, valued at approximately $5,314,246. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 90,090 shares of company stock valued at $21,201,877. 0.24% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Raymond James cut Tractor Supply from a “strong-buy” rating to an “outperform” rating and lifted their price target for the stock from $230.00 to $250.00 in a report on Friday, February 2nd. Mizuho began coverage on shares of Tractor Supply in a research report on Tuesday, March 19th. They issued a “neutral” rating and a $245.00 target price for the company. Guggenheim raised their price target on shares of Tractor Supply from $210.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Wells Fargo & Company boosted their price objective on shares of Tractor Supply from $250.00 to $285.00 and gave the company an “overweight” rating in a report on Monday, March 25th. Finally, Truist Financial raised their target price on shares of Tractor Supply from $256.00 to $277.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $240.57.

Tractor Supply Price Performance

Shares of TSCO opened at $247.35 on Friday. The business has a 50-day moving average of $249.54 and a 200-day moving average of $224.28. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.50 and a quick ratio of 0.28. The company has a market capitalization of $26.70 billion, a price-to-earnings ratio of 24.51, a price-to-earnings-growth ratio of 3.72 and a beta of 0.84. Tractor Supply has a 1 year low of $185.00 and a 1 year high of $268.02.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, February 1st. The specialty retailer reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.06. Tractor Supply had a net margin of 7.61% and a return on equity of 53.60%. The firm had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.67 billion. During the same quarter last year, the business earned $2.43 EPS. The company’s revenue was down 8.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Tractor Supply will post 10.19 earnings per share for the current year.

Tractor Supply Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were issued a $1.10 dividend. This is a positive change from Tractor Supply’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $4.40 annualized dividend and a yield of 1.78%. Tractor Supply’s payout ratio is presently 43.61%.

Tractor Supply 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.