Victory Capital Management Inc. Trims Stake in Tractor Supply (NASDAQ:TSCO)

Victory Capital Management Inc. lowered its position in Tractor Supply (NASDAQ:TSCO) by 0.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 60,857 shares of the specialty retailer’s stock after selling 518 shares during the period. Victory Capital Management Inc.’s holdings in Tractor Supply were worth $17,705,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its stake in shares of Tractor Supply by 12.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,330,621 shares of the specialty retailer’s stock valued at $871,691,000 after acquiring an additional 368,859 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Tractor Supply by 10.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,123,280 shares of the specialty retailer’s stock worth $303,278,000 after purchasing an additional 110,342 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Tractor Supply by 4.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 800,463 shares of the specialty retailer’s stock worth $216,125,000 after purchasing an additional 37,071 shares during the last quarter. Provident Trust Co. grew its holdings in shares of Tractor Supply by 1.7% in the third quarter. Provident Trust Co. now owns 679,701 shares of the specialty retailer’s stock worth $197,745,000 after purchasing an additional 11,139 shares during the last quarter. Finally, Clearbridge Investments LLC grew its holdings in shares of Tractor Supply by 67.4% in the second quarter. Clearbridge Investments LLC now owns 403,710 shares of the specialty retailer’s stock worth $109,002,000 after purchasing an additional 162,533 shares during the last quarter. 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 a number of research analyst reports. Robert W. Baird set a $320.00 price target on shares of Tractor Supply in a report on Thursday, October 17th. Wedbush restated a “neutral” rating and issued a $270.00 price target on shares of Tractor Supply in a report on Friday, October 25th. Truist Financial cut their price target on shares of Tractor Supply from $325.00 to $317.00 and set a “buy” rating on the stock in a report on Friday, October 25th. UBS Group upped their price target on shares of Tractor Supply from $272.00 to $280.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Finally, Citigroup cut shares of Tractor Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Tractor Supply has an average rating of “Moderate Buy” and an average target price of $282.82.

Tractor Supply Stock Performance

Shares of Tractor Supply stock opened at $272.85 on Wednesday. The firm has a market capitalization of $29.15 billion, a P/E ratio of 26.54, a PEG ratio of 3.46 and a beta of 0.82. The company has a quick ratio of 0.17, a current ratio of 1.48 and a debt-to-equity ratio of 0.81. The company has a 50 day moving average price of $284.45 and a 200 day moving average price of $275.44. Tractor Supply has a 52 week low of $193.73 and a 52 week high of $307.64.

Tractor Supply Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be given a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Monday, November 25th. Tractor Supply’s payout ratio is currently 42.80%.

Insider Activity at Tractor Supply

In related news, CFO Kurt D. Barton sold 23,532 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $295.64, for a total value of $6,957,000.48. Following the completion of the transaction, the chief financial officer now directly owns 9,683 shares of the company’s stock, valued at $2,862,682.12. This trade represents a 70.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.58% of the stock is currently owned by insiders.

About Tractor Supply

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.