Intact Investment Management Inc. Sells 6,100 Shares of Tractor Supply (NASDAQ:TSCO)

Intact Investment Management Inc. reduced its stake in shares of Tractor Supply (NASDAQ:TSCO) by 27.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 16,500 shares of the specialty retailer’s stock after selling 6,100 shares during the period. Intact Investment Management Inc.’s holdings in Tractor Supply were worth $3,548,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its stake in 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 last quarter. Invesco Ltd. lifted its stake in Tractor Supply by 76.7% in the third quarter. Invesco Ltd. now owns 2,024,182 shares of the specialty retailer’s stock valued at $411,010,000 after purchasing an additional 878,874 shares during the last quarter. Stifel Financial Corp lifted its stake in Tractor Supply by 3.2% in the third quarter. Stifel Financial Corp now owns 1,582,582 shares of the specialty retailer’s stock valued at $321,354,000 after purchasing an additional 49,173 shares during the last quarter. Northern Trust Corp lifted its stake in Tractor Supply by 4.7% in the third quarter. Northern Trust Corp now owns 1,182,164 shares of the specialty retailer’s stock valued at $240,038,000 after purchasing an additional 52,583 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Tractor Supply by 22.4% in the third quarter. Envestnet Asset Management Inc. now owns 1,148,340 shares of the specialty retailer’s stock valued at $233,170,000 after purchasing an additional 210,131 shares during the last quarter. 98.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on TSCO shares. Raymond James increased their target price on Tractor Supply from $250.00 to $285.00 and gave the stock an “outperform” rating in a research report on Friday. Telsey Advisory Group restated an “outperform” rating and set a $275.00 target price on shares of Tractor Supply in a research report on Thursday. Barclays increased their target price on Tractor Supply from $234.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Friday. Wells Fargo & Company increased their target price on Tractor Supply from $250.00 to $285.00 and gave the stock an “overweight” rating in a research report on Monday, March 25th. Finally, The Goldman Sachs Group increased their price objective on Tractor Supply from $230.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $248.17.

Insiders Place Their Bets

In other news, CFO Kurt D. Barton sold 401 shares of Tractor Supply stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $232.06, for a total transaction of $93,056.06. Following the completion of the transaction, the chief financial officer now directly owns 25,013 shares in the company, valued at $5,804,516.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Robert D. Mills sold 48,334 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $232.23, for a total transaction of $11,224,604.82. Following the completion of the sale, the executive vice president now owns 22,167 shares of the company’s stock, valued at $5,147,842.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kurt D. Barton sold 401 shares of Tractor Supply stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $232.06, for a total transaction of $93,056.06. Following the completion of the sale, the chief financial officer now directly owns 25,013 shares of the company’s stock, valued at approximately $5,804,516.78. The disclosure for this sale can be found here. Insiders sold 90,090 shares of company stock worth $21,201,877 over the last three months. Company insiders own 0.24% of the company’s stock.

Tractor Supply Trading Up 3.3 %

Shares of NASDAQ TSCO traded up $8.64 during trading hours on Friday, hitting $273.90. The company’s stock had a trading volume of 1,599,528 shares, compared to its average volume of 1,032,605. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.28 and a current ratio of 1.40. The stock has a market cap of $29.56 billion, a price-to-earnings ratio of 26.67, a P/E/G ratio of 4.10 and a beta of 0.84. Tractor Supply has a 12 month low of $185.00 and a 12 month high of $274.66. The business has a 50-day simple moving average of $252.44 and a 200-day simple moving average of $226.74.

Tractor Supply (NASDAQ:TSCO) last posted its earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.13. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. The company had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same period last year, the firm earned $1.65 earnings per share. Tractor Supply’s quarterly revenue was up 2.8% on a year-over-year basis. On average, analysts anticipate that Tractor Supply will post 10.26 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were issued a $1.10 dividend. The ex-dividend date was Friday, February 23rd. This is a positive change from Tractor Supply’s previous quarterly dividend of $1.03. This represents a $4.40 annualized dividend and a yield of 1.61%. Tractor Supply’s dividend payout ratio (DPR) is 42.84%.

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.