Tractor Supply (NASDAQ:TSCO) Shares Sold by First Trust Direct Indexing L.P.

Posted by on Sep 25th, 2023

First Trust Direct Indexing L.P. lowered its position in Tractor Supply (NASDAQ:TSCO – Free Report) by 2.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,556 shares of the specialty retailer’s stock after selling 69 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Tractor Supply were worth $565,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. OLD Mission Capital LLC bought a new stake in Tractor Supply during the 4th quarter valued at $25,000. Compass Wealth Management LLC bought a new stake in shares of Tractor Supply during the fourth quarter valued at about $25,000. Pacific Center for Financial Services acquired a new stake in Tractor Supply in the first quarter worth about $26,000. Householder Group Estate & Retirement Specialist LLC acquired a new stake in Tractor Supply in the first quarter worth about $27,000. Finally, Hazlett Burt & Watson Inc. grew its position in Tractor Supply by 57.5% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 126 shares of the specialty retailer’s stock valued at $30,000 after buying an additional 46 shares in the last quarter. Institutional investors own 90.38% of the company’s stock.

Insider Activity

In related news, CFO Kurt D. Barton sold 7,487 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $222.43, for a total value of $1,665,333.41. Following the transaction, the chief financial officer now directly owns 19,574 shares in the company, valued at approximately $4,353,844.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TSCO. UBS Group reduced their price target on shares of Tractor Supply from $247.00 to $230.00 and set a “neutral” rating for the company in a research note on Friday, July 28th. Benchmark reiterated a “buy” rating and set a $256.00 price target on shares of Tractor Supply in a research report on Monday, July 24th. Evercore ISI boosted their price objective on Tractor Supply from $230.00 to $235.00 and gave the stock an “outperform” rating in a research note on Friday, September 8th. Robert W. Baird decreased their target price on Tractor Supply from $265.00 to $260.00 in a research note on Tuesday, July 18th. Finally, Wells Fargo & Company dropped their price target on shares of Tractor Supply from $270.00 to $255.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 18th. Ten research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Tractor Supply presently has an average rating of “Moderate Buy” and an average price target of $246.83.

Read Our Latest Stock Report on TSCO

Tractor Supply Stock Performance

TSCO stock opened at $205.05 on Monday. The stock has a market cap of $22.31 billion, a P/E ratio of 20.48, a P/E/G ratio of 2.57 and a beta of 0.80. Tractor Supply has a 52 week low of $181.40 and a 52 week high of $251.17. The firm has a 50 day simple moving average of $217.51 and a 200 day simple moving average of $224.34. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.41 and a current ratio of 1.60.

Tractor Supply (NASDAQ:TSCO – Get Free Report) last announced its quarterly earnings results on Thursday, July 27th. The specialty retailer reported $3.83 earnings per share for the quarter, missing analysts’ consensus estimates of $3.91 by ($0.08). The company had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.26 billion. Tractor Supply had a return on equity of 55.57% and a net margin of 7.52%. Tractor Supply’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $3.53 EPS. Research analysts anticipate that Tractor Supply will post 10.26 earnings per share for the current fiscal year.

Tractor Supply Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Monday, August 28th were issued a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, August 25th. This represents a $4.12 annualized dividend and a yield of 2.01%. Tractor Supply’s dividend payout ratio (DPR) is presently 41.16%.

Tractor Supply Company Profile

(Free Report)

Tractor Supply Company operates as a rural lifestyle retailer 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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Institutional Ownership by Quarter for Tractor Supply (NASDAQ:TSCO)

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