Independent Advisor Alliance Cuts Holdings in Tractor Supply (NASDAQ:TSCO)

Independent Advisor Alliance trimmed its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 10.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,230 shares of the specialty retailer’s stock after selling 368 shares during the period. Independent Advisor Alliance’s holdings in Tractor Supply were worth $940,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Daiwa Securities Group Inc. increased its stake in Tractor Supply by 8.0% in the 3rd quarter. Daiwa Securities Group Inc. now owns 17,726 shares of the specialty retailer’s stock valued at $5,157,000 after purchasing an additional 1,316 shares in the last quarter. Westfield Capital Management Co. LP increased its stake in Tractor Supply by 1.7% in the 3rd quarter. Westfield Capital Management Co. LP now owns 29,583 shares of the specialty retailer’s stock valued at $8,607,000 after purchasing an additional 506 shares in the last quarter. Alpha DNA Investment Management LLC increased its stake in Tractor Supply by 13.0% in the 3rd quarter. Alpha DNA Investment Management LLC now owns 2,115 shares of the specialty retailer’s stock valued at $615,000 after purchasing an additional 244 shares in the last quarter. Larson Financial Group LLC increased its stake in Tractor Supply by 29.4% in the 3rd quarter. Larson Financial Group LLC now owns 286 shares of the specialty retailer’s stock valued at $83,000 after purchasing an additional 65 shares in the last quarter. Finally, KKM Financial LLC purchased a new position in Tractor Supply in the 3rd quarter valued at approximately $206,000. 98.72% of the stock is owned by hedge funds and other institutional investors.

Tractor Supply Stock Up 0.6 %

Shares of NASDAQ TSCO opened at $281.96 on Thursday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.17 and a current ratio of 1.48. The firm has a market cap of $30.12 billion, a price-to-earnings ratio of 27.43, a PEG ratio of 3.59 and a beta of 0.82. Tractor Supply has a 1 year low of $197.00 and a 1 year high of $307.64. The stock’s 50-day simple moving average is $284.30 and its 200-day simple moving average is $275.74.

Tractor Supply Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.56%. The ex-dividend date is Monday, November 25th. Tractor Supply’s dividend payout ratio is currently 42.80%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TSCO shares. Raymond James increased their target price on Tractor Supply from $285.00 to $290.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Piper Sandler increased 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. Benchmark increased their target price on Tractor Supply from $280.00 to $310.00 and gave the company a “buy” rating in a report on Monday, October 28th. Wells Fargo & Company lowered their target price on Tractor Supply from $325.00 to $320.00 and set an “overweight” rating on the stock in a report on Monday. Finally, UBS Group increased their target price on Tractor Supply from $272.00 to $280.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Two research 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 company. According to MarketBeat.com, Tractor Supply currently has an average rating of “Moderate Buy” and a consensus price target of $282.59.

Insider Activity at Tractor Supply

In related news, CFO Kurt D. Barton sold 23,532 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was 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 of the company’s stock, valued at $2,862,682.12. The trade was a 70.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.58% of the stock is owned by corporate insiders.

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.