M&T Bank Corp Decreases Stock Holdings in Tractor Supply (NASDAQ:TSCO)

M&T Bank Corp lowered its position in Tractor Supply (NASDAQ:TSCO) by 8.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 62,225 shares of the specialty retailer’s stock after selling 5,488 shares during the quarter. M&T Bank Corp owned about 0.06% of Tractor Supply worth $13,380,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in TSCO. WCM Investment Management LLC purchased a new position in Tractor Supply in the fourth quarter valued at $782,000. LPL Financial LLC raised its stake in shares of Tractor Supply by 4.6% during the third quarter. LPL Financial LLC now owns 113,873 shares of the specialty retailer’s stock worth $23,122,000 after purchasing an additional 5,014 shares during the last quarter. Impax Asset Management Group plc raised its position in Tractor Supply by 2,120.1% during the 4th quarter. Impax Asset Management Group plc now owns 121,817 shares of the specialty retailer’s stock worth $26,194,000 after buying an additional 116,330 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Tractor Supply by 32,987.5% in the 4th quarter. International Assets Investment Management LLC now owns 270,325 shares of the specialty retailer’s stock valued at $58,128,000 after purchasing an additional 269,508 shares in the last quarter. Finally, Copeland Capital Management LLC grew its holdings in Tractor Supply by 397.6% during the fourth quarter. Copeland Capital Management LLC now owns 5,090 shares of the specialty retailer’s stock worth $1,095,000 after acquiring an additional 4,067 shares during the period. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Wall Street Analysts Forecast Growth

TSCO has been the topic of several analyst reports. Piper Sandler raised their price objective on Tractor Supply from $265.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. Wedbush reiterated a “neutral” rating and issued a $235.00 price target on shares of Tractor Supply in a research note on Tuesday, April 23rd. The Goldman Sachs Group raised their price target on shares of Tractor Supply from $230.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. JPMorgan Chase & Co. upped their target price on Tractor Supply from $241.00 to $263.00 and gave the company a “neutral” rating in a report on Friday. Finally, Stephens downgraded Tractor Supply from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $226.00 to $240.00 in a research note on Tuesday, January 23rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Tractor Supply currently has an average rating of “Hold” and an average price target of $253.54.

Insider Activity

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

Tractor Supply Stock Performance

TSCO traded up $3.51 on Friday, hitting $270.21. The company had a trading volume of 1,135,143 shares, compared to its average volume of 1,174,176. The stock has a market cap of $29.16 billion, a price-to-earnings ratio of 26.31, a price-to-earnings-growth ratio of 3.41 and a beta of 0.82. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.40 and a quick ratio of 0.19. The company’s fifty day moving average price is $255.80 and its 200 day moving average price is $229.15. Tractor Supply has a 1-year low of $185.00 and a 1-year high of $279.38.

Tractor Supply (NASDAQ:TSCO) last released its earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.13. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates 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 was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.65 EPS. Equities analysts predict that Tractor Supply will post 10.3 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were paid a dividend of $1.10 per share. The ex-dividend date was Friday, February 23rd. This represents a $4.40 dividend on an annualized basis and a yield of 1.63%. This is an increase from Tractor Supply’s previous quarterly dividend of $1.03. Tractor Supply’s payout ratio is currently 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.