Desjardins Global Asset Management Inc. Sells 1,529 Shares of Tractor Supply (NASDAQ:TSCO)

Desjardins Global Asset Management Inc. lessened its stake in Tractor Supply (NASDAQ:TSCO) by 55.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,250 shares of the specialty retailer’s stock after selling 1,529 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Tractor Supply were worth $269,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of TSCO. OFI Invest Asset Management bought a new stake in shares of Tractor Supply in the 3rd quarter valued at about $25,000. Compass Wealth Management LLC bought a new stake in shares of Tractor Supply in the 4th quarter valued at about $25,000. Pacific Center for Financial Services bought a new stake in shares of Tractor Supply in the 1st quarter valued at about $26,000. Pinnacle Bancorp Inc. bought a new stake in shares of Tractor Supply in the 4th quarter valued at about $28,000. Finally, VisionPoint Advisory Group LLC lifted its stake in shares of Tractor Supply by 105.6% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 148 shares of the specialty retailer’s stock valued at $30,000 after acquiring an additional 76 shares during the last quarter. Institutional investors own 98.72% of the company’s stock.

Insider Activity

In other news, CFO Kurt D. Barton sold 4,335 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $257.00, for a total transaction of $1,114,095.00. Following the transaction, the chief financial officer now directly owns 20,678 shares of the company’s stock, valued at approximately $5,314,246. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Kurt D. Barton sold 401 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $232.06, for a total value of $93,056.06. Following the transaction, the chief financial officer now directly owns 25,013 shares of the company’s stock, valued at approximately $5,804,516.78. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Kurt D. Barton sold 4,335 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $257.00, for a total value of $1,114,095.00. Following the completion of the transaction, the chief financial officer now directly owns 20,678 shares in the company, valued at $5,314,246. The disclosure for this sale can be found here. Insiders have sold 90,090 shares of company stock valued at $21,201,877 in the last ninety days. 0.24% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Guggenheim boosted their price target on Tractor Supply from $210.00 to $255.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Truist Financial boosted their price target on Tractor Supply from $256.00 to $277.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Wells Fargo & Company boosted their price target on Tractor Supply from $250.00 to $285.00 and gave the company an “overweight” rating in a report on Monday, March 25th. Morgan Stanley restated an “underweight” rating and set a $195.00 price target on shares of Tractor Supply in a report on Tuesday, January 16th. Finally, Evercore ISI reduced their price target on Tractor Supply from $280.00 to $275.00 and set an “outperform” rating on the stock in a report on Tuesday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Tractor Supply presently has an average rating of “Hold” and an average price target of $240.57.

Tractor Supply Stock Performance

Tractor Supply stock opened at $247.35 on Friday. The company has a quick ratio of 0.28, a current ratio of 1.50 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $26.70 billion, a P/E ratio of 24.51, a PEG ratio of 3.72 and a beta of 0.84. The stock’s 50 day moving average is $249.54 and its 200 day moving average is $224.28. Tractor Supply has a twelve month low of $185.00 and a twelve month high of $268.02.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, February 1st. The specialty retailer reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.06. The business had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.67 billion. Tractor Supply had a return on equity of 53.60% and a net margin of 7.61%. The firm’s quarterly revenue was down 8.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.43 EPS. On average, equities research analysts predict that Tractor Supply will post 10.19 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.78%. This is a boost from Tractor Supply’s previous quarterly dividend of $1.03. The ex-dividend date was Friday, February 23rd. Tractor Supply’s dividend payout ratio is presently 43.61%.

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.