Sumitomo Mitsui Trust Holdings Inc. cut its stake in Tractor Supply (NASDAQ:TSCO) by 1.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 478,501 shares of the specialty retailer’s stock after selling 7,688 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.41% of Tractor Supply worth $63,062,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of TSCO. Sterling Investment Advisors Ltd. acquired a new stake in Tractor Supply during the second quarter worth approximately $25,000. NN Investment Partners Holdings N.V. raised its stake in shares of Tractor Supply by 236.5% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 83,979 shares of the specialty retailer’s stock valued at $11,068,000 after acquiring an additional 59,022 shares during the period. Gulf International Bank UK Ltd increased its stake in Tractor Supply by 2.2% during the 2nd quarter. Gulf International Bank UK Ltd now owns 27,787 shares of the specialty retailer’s stock worth $3,662,000 after buying an additional 603 shares during the period. Strs Ohio increased its stake in Tractor Supply by 73.5% during the 2nd quarter. Strs Ohio now owns 14,231 shares of the specialty retailer’s stock worth $1,875,000 after buying an additional 6,028 shares during the period. Finally, Congress Asset Management Co. MA grew its holdings in Tractor Supply by 105.6% during the 2nd quarter. Congress Asset Management Co. MA now owns 116,395 shares of the specialty retailer’s stock worth $15,340,000 after acquiring an additional 59,769 shares in the last quarter. 84.57% of the stock is owned by institutional investors.
In related news, CFO Kurt D. Barton sold 12,500 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $108.01, for a total transaction of $1,350,125.00. Following the transaction, the chief financial officer now directly owns 55,431 shares of the company’s stock, valued at $5,987,102.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edna Morris sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $144.46, for a total transaction of $722,300.00. Following the transaction, the director now directly owns 4,676 shares in the company, valued at $675,494.96. The disclosure for this sale can be found here. Insiders have sold 249,401 shares of company stock worth $26,732,395 over the last ninety days. 1.50% of the stock is currently owned by insiders.
Several research analysts have recently commented on TSCO shares. Loop Capital lifted their price target on shares of Tractor Supply from $120.00 to $150.00 in a report on Friday, July 24th. Stephens boosted their price target on shares of Tractor Supply from $135.00 to $155.00 and gave the stock an “overweight” rating in a research report on Monday, July 20th. Raymond James boosted their price target on shares of Tractor Supply from $135.00 to $170.00 and gave the stock a “strong-buy” rating in a research report on Friday, July 24th. BidaskClub upgraded shares of Tractor Supply from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 23rd. Finally, Piper Sandler boosted their price target on shares of Tractor Supply from $114.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 27th. Seventeen investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $131.31.
TSCO stock opened at $142.74 on Friday. Tractor Supply has a 52-week low of $63.89 and a 52-week high of $154.48. The company’s 50 day simple moving average is $134.23 and its 200-day simple moving average is $105.95. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.40 and a quick ratio of 0.62. The firm has a market capitalization of $16.51 billion, a P/E ratio of 24.44, a P/E/G ratio of 1.84 and a beta of 1.03.
Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, July 23rd. The specialty retailer reported $2.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.62 by $0.28. Tractor Supply had a net margin of 7.40% and a return on equity of 45.25%. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same quarter in the previous year, the business earned $1.80 earnings per share. The firm’s revenue was up 34.9% compared to the same quarter last year. Sell-side analysts predict that Tractor Supply will post 6.18 EPS for the current fiscal year.
About Tractor Supply
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.
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