Mackenzie Financial Corp Trims Stock Position in Tractor Supply (NASDAQ:TSCO)

Mackenzie Financial Corp lowered its stake in shares of Tractor Supply (NASDAQ:TSCO) by 2.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 20,096 shares of the specialty retailer’s stock after selling 544 shares during the period. Mackenzie Financial Corp’s holdings in Tractor Supply were worth $4,321,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Pacific Center for Financial Services purchased a new position in shares of Tractor Supply during the 1st quarter valued at about $26,000. Compass Wealth Management LLC purchased a new position in shares of Tractor Supply in the 4th quarter valued at about $25,000. OFI Invest Asset Management purchased a new position in shares of Tractor Supply in the 3rd quarter valued at about $25,000. Pinnacle Bancorp Inc. purchased a new position in shares of Tractor Supply in the 4th quarter valued at about $28,000. Finally, VisionPoint Advisory Group LLC increased 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 purchasing an additional 76 shares in the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Stock Up 2.2 %

Shares of NASDAQ TSCO opened at $252.79 on Monday. The firm has a market cap of $27.28 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 3.80 and a beta of 0.84. The company has a quick ratio of 0.28, a current ratio of 1.50 and a debt-to-equity ratio of 0.82. Tractor Supply has a 52-week low of $185.00 and a 52-week high of $268.02. The business’s 50 day moving average is $249.89 and its two-hundred day moving average is $224.90.

Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Thursday, February 1st. The specialty retailer reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.06. The company had revenue of $3.66 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.43 earnings per share. Research analysts predict that Tractor Supply will post 10.2 EPS for the current year.

Tractor Supply Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were given 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 dividend yield of 1.74%. This is a positive change from Tractor Supply’s previous quarterly dividend of $1.03. Tractor Supply’s dividend payout ratio is currently 43.61%.

Insider Transactions at Tractor Supply

In other news, EVP Robert D. Mills sold 48,334 shares of the company’s 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 sale, the executive vice president now owns 22,167 shares of the company’s stock, valued at $5,147,842.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Harry A. Lawton III sold 20,500 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $232.93, for a total value of $4,775,065.00. Following the transaction, the chief executive officer now owns 95,192 shares of the company’s stock, valued at $22,173,072.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert D. Mills sold 48,334 shares of the stock in a transaction on 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 in the company, valued at approximately $5,147,842.41. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,090 shares of company stock valued at $21,201,877. 0.58% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Wedbush lifted their price target on Tractor Supply from $200.00 to $235.00 and gave the company a “neutral” rating in a research note on Friday, February 2nd. Benchmark restated a “buy” rating and issued a $256.00 price target on shares of Tractor Supply in a research note on Wednesday, April 3rd. Morgan Stanley restated an “underweight” rating and issued a $195.00 price target on shares of Tractor Supply in a research note on Tuesday, January 16th. Truist Financial lifted their price objective on Tractor Supply from $256.00 to $277.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Finally, UBS Group lifted their price objective on Tractor Supply from $220.00 to $240.00 and gave the stock a “neutral” rating in a report on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $241.65.

Tractor Supply 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.