Rhumbline Advisers Sells 6,647 Shares of Tractor Supply (TSCO)

Rhumbline Advisers reduced its position in Tractor Supply (NASDAQ:TSCO) by 2.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 252,444 shares of the specialty retailer’s stock after selling 6,647 shares during the quarter. Rhumbline Advisers owned approximately 0.21% of Tractor Supply worth $22,942,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the business. Janus Henderson Group PLC grew its position in shares of Tractor Supply by 12.3% in the second quarter. Janus Henderson Group PLC now owns 4,473,406 shares of the specialty retailer’s stock valued at $342,171,000 after purchasing an additional 488,863 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Tractor Supply by 3.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,776,050 shares of the specialty retailer’s stock valued at $343,167,000 after purchasing an additional 140,981 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Tractor Supply by 73.0% in the third quarter. JPMorgan Chase & Co. now owns 2,339,567 shares of the specialty retailer’s stock valued at $212,619,000 after purchasing an additional 987,193 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Tractor Supply by 21.6% in the third quarter. Wells Fargo & Company MN now owns 1,782,916 shares of the specialty retailer’s stock valued at $162,030,000 after purchasing an additional 316,629 shares in the last quarter. Finally, Boston Partners bought a new stake in Tractor Supply during the second quarter valued at $118,735,000. 82.18% of the stock is owned by institutional investors and hedge funds.

In other news, EVP Benjamin F. Parrish, Jr. sold 25,252 shares of the business’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $89.62, for a total value of $2,263,084.24. Following the completion of the sale, the executive vice president now owns 28,700 shares of the company’s stock, valued at approximately $2,572,094. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Gregory A. Sandfort sold 140,709 shares of the business’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $90.28, for a total value of $12,703,208.52. Following the completion of the sale, the chief executive officer now directly owns 118,845 shares of the company’s stock, valued at approximately $10,729,326.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 227,314 shares of company stock valued at $20,745,120. Corporate insiders own 1.60% of the company’s stock.

Shares of TSCO stock opened at $89.00 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.99 and a quick ratio of 0.21. Tractor Supply has a 12-month low of $58.27 and a 12-month high of $97.65. The stock has a market cap of $10.86 billion, a price-to-earnings ratio of 26.73, a PEG ratio of 1.70 and a beta of 1.22.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Thursday, October 25th. The specialty retailer reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.08. Tractor Supply had a return on equity of 36.23% and a net margin of 6.54%. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.82 billion. Equities research analysts anticipate that Tractor Supply will post 4.29 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 11th. Shareholders of record on Monday, November 26th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Friday, November 23rd. Tractor Supply’s dividend payout ratio (DPR) is currently 37.24%.

Several equities research analysts recently issued reports on the company. Zacks Investment Research raised Tractor Supply from a “hold” rating to a “buy” rating and set a $98.00 price objective for the company in a research note on Wednesday. BidaskClub lowered Tractor Supply from a “buy” rating to a “hold” rating in a research note on Tuesday. Telsey Advisory Group reissued an “outperform” rating and set a $92.00 price objective (up previously from $85.00) on shares of Tractor Supply in a research note on Saturday, October 27th. Credit Suisse Group set a $85.00 price objective on Tractor Supply and gave the company a “hold” rating in a research note on Friday, October 26th. Finally, Wells Fargo & Co lifted their price objective on Tractor Supply from $98.00 to $102.00 and gave the company an “outperform” rating in a research note on Friday, October 26th. Eleven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $87.77.

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Tractor Supply Profile

Tractor Supply Company operates rural lifestyle retail stores 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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