PNC Financial Services Group Inc. Lowers Position in Tractor Supply (NASDAQ:TSCO)

PNC Financial Services Group Inc. decreased its position in shares of Tractor Supply (NASDAQ:TSCO) by 1.7% during the fourth quarter, Holdings Channel reports. The fund owned 48,543 shares of the specialty retailer’s stock after selling 848 shares during the period. PNC Financial Services Group Inc.’s holdings in Tractor Supply were worth $10,438,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Private Wealth Management Group LLC bought a new stake in shares of Tractor Supply during the fourth quarter valued at approximately $27,000. Pinnacle Bancorp Inc. bought a new stake in shares of Tractor Supply during the 4th quarter valued at $28,000. VisionPoint Advisory Group LLC boosted its holdings in shares of Tractor Supply by 105.6% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 148 shares of the specialty retailer’s stock valued at $30,000 after buying an additional 76 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Tractor Supply in the 3rd quarter worth about $33,000. Finally, Cetera Trust Company N.A bought a new position in shares of Tractor Supply in the 4th quarter worth about $38,000. Institutional investors own 98.72% of the company’s stock.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, CFO Kurt D. Barton sold 4,335 shares of the company’s stock in a transaction that occurred 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 approximately $5,314,246. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Colin Yankee sold 8,675 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $250.00, for a total value of $2,168,750.00. Following the sale, the executive vice president now directly owns 9,673 shares in the company, valued at $2,418,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kurt D. Barton sold 4,335 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $257.00, for a total value of $1,114,095.00. Following the transaction, the chief financial officer now owns 20,678 shares of the company’s stock, valued at approximately $5,314,246. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on TSCO. Wells Fargo & Company upped their price objective on shares of Tractor Supply from $250.00 to $285.00 and gave the stock an “overweight” rating in a report on Monday, March 25th. Robert W. Baird raised their price objective on Tractor Supply from $260.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Mizuho reiterated a “neutral” rating and set a $250.00 price objective (up previously from $245.00) on shares of Tractor Supply in a research note on Friday, April 26th. Piper Sandler increased their target price on Tractor Supply from $265.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Finally, Morgan Stanley lifted their price target on Tractor Supply from $195.00 to $235.00 and gave the stock an “underweight” rating in a research report on Friday, April 26th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $253.96.

Tractor Supply Stock Performance

NASDAQ:TSCO opened at $282.76 on Thursday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.19 and a current ratio of 1.40. The stock has a 50-day simple moving average of $262.35 and a two-hundred day simple moving average of $236.42. The firm has a market capitalization of $30.48 billion, a PE ratio of 27.53, a P/E/G ratio of 3.72 and a beta of 0.82. Tractor Supply has a 52-week low of $185.00 and a 52-week high of $287.89.

Tractor Supply (NASDAQ:TSCO) last released 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. The company 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 firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.65 EPS. Analysts forecast that Tractor Supply will post 10.33 EPS for the current year.

Tractor Supply Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 28th will be paid a $1.10 dividend. The ex-dividend date of this dividend is Friday, May 24th. This represents a $4.40 dividend on an annualized basis and a yield of 1.56%. Tractor Supply’s payout ratio is presently 42.84%.

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.