Bank of New York Mellon Corp Decreases Stock Holdings in Tractor Supply (NASDAQ:TSCO)

Bank of New York Mellon Corp reduced its holdings in shares of Tractor Supply (NASDAQ:TSCO – Get Rating) by 1.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,072,669 shares of the specialty retailer’s stock after selling 14,321 shares during the period. Bank of New York Mellon Corp’s holdings in Tractor Supply were worth $199,386,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TSCO. Wagner Wealth Management LLC acquired a new position in shares of Tractor Supply during the second quarter worth $30,000. Guardian Wealth Advisors LLC acquired a new position in shares of Tractor Supply during the third quarter worth $34,000. CoreFirst Bank & Trust acquired a new position in shares of Tractor Supply during the second quarter worth $39,000. Trust Co. of Vermont lifted its position in shares of Tractor Supply by 90.1% during the third quarter. Trust Co. of Vermont now owns 211 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its holdings in Tractor Supply by 157.8% in the second quarter. Brown Brothers Harriman & Co. now owns 214 shares of the specialty retailer’s stock valued at $41,000 after acquiring an additional 131 shares in the last quarter. 84.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tractor Supply

In related news, CEO Harry A. Lawton III sold 20,067 shares of the stock in a transaction dated Thursday, February 9th. The shares were sold at an average price of $231.21, for a total value of $4,639,691.07. Following the completion of the transaction, the chief executive officer now owns 84,734 shares in the company, valued at approximately $19,591,348.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Harry A. Lawton III sold 20,067 shares of the firm’s stock in a transaction dated Thursday, February 9th. The shares were sold at an average price of $231.21, for a total transaction of $4,639,691.07. Following the completion of the transaction, the chief executive officer now owns 84,734 shares in the company, valued at approximately $19,591,348.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Melissa Kersey sold 1,700 shares of the firm’s stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $237.57, for a total transaction of $403,869.00. Following the transaction, the executive vice president now owns 8,051 shares of the company’s stock, valued at approximately $1,912,676.07. The disclosure for this sale can be found here. Insiders sold 38,091 shares of company stock worth $8,840,560 in the last 90 days. Corporate insiders own 0.70% of the company’s stock.

Tractor Supply Stock Down 1.2 %

Tractor Supply stock opened at $232.44 on Friday. The company has a 50-day simple moving average of $227.70 and a 200-day simple moving average of $214.52. The firm has a market capitalization of $25.58 billion, a P/E ratio of 23.94, a P/E/G ratio of 2.20 and a beta of 0.83. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.19 and a current ratio of 1.33. Tractor Supply has a one year low of $166.49 and a one year high of $241.54.

Tractor Supply (NASDAQ:TSCO – Get Rating) last announced its earnings results on Thursday, January 26th. The specialty retailer reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.35 by $0.08. The firm had revenue of $4.01 billion during the quarter, compared to analyst estimates of $3.88 billion. Tractor Supply had a net margin of 7.66% and a return on equity of 56.65%. Tractor Supply’s revenue was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.93 EPS. As a group, equities analysts expect that Tractor Supply will post 10.46 earnings per share for the current year.

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 14th. Investors of record on Monday, February 27th were given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend was Friday, February 24th. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.92. Tractor Supply’s dividend payout ratio is currently 42.43%.

Analyst Ratings Changes

Several research firms recently issued reports on TSCO. Truist Financial upped their price target on shares of Tractor Supply from $237.00 to $273.00 and gave the company a “buy” rating in a report on Friday, January 27th. BNP Paribas raised shares of Tractor Supply from a “neutral” rating to an “outperform” rating in a report on Thursday, January 12th. DA Davidson upped their price target on shares of Tractor Supply from $215.00 to $219.00 and gave the company a “neutral” rating in a report on Monday, January 23rd. Raymond James upped their price target on shares of Tractor Supply from $235.00 to $255.00 and gave the company a “strong-buy” rating in a report on Friday, January 27th. Finally, Argus upped their price target on shares of Tractor Supply from $225.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, February 28th. Eight research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Tractor Supply has a consensus rating of “Moderate Buy” and an average price target of $247.18.

Tractor Supply Profile

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Tractor Supply Co engages in the retail sale of farm and ranch products. It operates retail farm & ranch stores and focuses on supplying the lifestyle needs of recreational farmers and ranchers, as well as tradesmen and small businesses. The firm operates the retail stores under the names: Tractor Supply Company, Del’s Feed & Farm Supply, and Petsense.