Tractor Supply (NASDAQ:TSCO) Shares Sold by Hodges Capital Management Inc.

Hodges Capital Management Inc. cut its stake in shares of Tractor Supply (NASDAQ:TSCO) by 8.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,019 shares of the specialty retailer’s stock after selling 100 shares during the quarter. Hodges Capital Management Inc.’s holdings in Tractor Supply were worth $267,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Wellington Management Group LLP increased its holdings in shares of Tractor Supply by 9,370.6% in the third quarter. Wellington Management Group LLP now owns 2,822,151 shares of the specialty retailer’s stock valued at $573,038,000 after purchasing an additional 2,792,352 shares during the period. Norges Bank purchased a new position in shares of Tractor Supply during the 4th quarter worth approximately $260,560,000. Capital World Investors boosted its stake in shares of Tractor Supply by 10.0% in the fourth quarter. Capital World Investors now owns 5,849,188 shares of the specialty retailer’s stock valued at $1,257,751,000 after buying an additional 531,170 shares in the last quarter. Capital International Investors grew its holdings in Tractor Supply by 7.6% during the fourth quarter. Capital International Investors now owns 6,233,852 shares of the specialty retailer’s stock worth $1,340,589,000 after acquiring an additional 439,954 shares during the period. Finally, Alecta Tjanstepension Omsesidigt lifted its holdings in Tractor Supply by 87.5% in the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 750,000 shares of the specialty retailer’s stock valued at $161,272,000 after acquiring an additional 350,000 shares during the period. 98.72% of the stock is owned by hedge funds and other institutional investors.

Tractor Supply Price Performance

Shares of TSCO traded up $2.45 during trading hours on Friday, hitting $270.00. The stock had a trading volume of 1,701,059 shares, compared to its average volume of 1,242,692. The stock has a market capitalization of $29.11 billion, a price-to-earnings ratio of 26.29, a P/E/G ratio of 3.48 and a beta of 0.83. Tractor Supply has a 52 week low of $185.00 and a 52 week high of $290.38. The company’s fifty day moving average is $274.91 and its two-hundred day moving average is $250.18. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.40 and a quick ratio of 0.19.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings data on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.13. The firm had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.40 billion. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period last year, the firm earned $1.65 earnings per share. On average, analysts anticipate that Tractor Supply will post 10.34 EPS for the current year.

Tractor Supply Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Tuesday, May 28th were issued a dividend of $1.10 per share. The ex-dividend date was Friday, May 24th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.63%. Tractor Supply’s payout ratio is 42.84%.

Analyst Upgrades and Downgrades

TSCO has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price target on Tractor Supply from $241.00 to $263.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Raymond James lifted their target price on shares of Tractor Supply from $250.00 to $285.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Mizuho reissued a “neutral” rating and issued a $250.00 price target (up from $245.00) on shares of Tractor Supply in a research note on Friday, April 26th. Robert W. Baird upped their price target on shares of Tractor Supply from $260.00 to $285.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Finally, Piper Sandler boosted their price objective on shares of Tractor Supply from $265.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $254.17.

About Tractor Supply

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.