Dearborn Partners LLC Has $46.84 Million Stock Holdings in Tractor Supply (NASDAQ:TSCO)

Dearborn Partners LLC decreased its stake in shares of Tractor Supply (NASDAQ:TSCO) by 4.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 161,008 shares of the specialty retailer’s stock after selling 7,591 shares during the period. Tractor Supply comprises about 1.9% of Dearborn Partners LLC’s investment portfolio, making the stock its 10th biggest holding. Dearborn Partners LLC owned about 0.15% of Tractor Supply worth $46,842,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD increased 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 purchasing an additional 368,859 shares during the period. Marshall Wace LLP increased its position in Tractor Supply by 2,921.4% in the 2nd quarter. Marshall Wace LLP now owns 357,225 shares of the specialty retailer’s stock valued at $96,451,000 after acquiring an additional 345,402 shares during the period. Clearbridge Investments LLC increased its position in Tractor Supply by 11,952.8% in the 1st quarter. Clearbridge Investments LLC now owns 241,177 shares of the specialty retailer’s stock valued at $63,121,000 after acquiring an additional 239,176 shares during the period. International Assets Investment Management LLC raised its stake in Tractor Supply by 29,058.6% during the 3rd quarter. International Assets Investment Management LLC now owns 233,269 shares of the specialty retailer’s stock valued at $67,865,000 after acquiring an additional 232,469 shares in the last quarter. Finally, Employees Retirement System of Texas acquired a new position in Tractor Supply during the 2nd quarter worth $38,070,000. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Tractor Supply Trading Down 0.6 %

NASDAQ TSCO opened at $277.08 on Friday. The company has a market capitalization of $29.60 billion, a PE ratio of 26.95, a price-to-earnings-growth ratio of 3.50 and a beta of 0.82. Tractor Supply has a 1-year low of $193.73 and a 1-year high of $307.64. The company has a current ratio of 1.48, a quick ratio of 0.17 and a debt-to-equity ratio of 0.81. The firm’s fifty day simple moving average is $284.23 and its 200-day simple moving average is $275.32.

Tractor Supply Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be given a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.59%. The ex-dividend date is Monday, November 25th. Tractor Supply’s dividend payout ratio is 42.80%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Tractor Supply from $295.00 to $325.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Citigroup lowered shares of Tractor Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 17th. Gordon Haskett lowered shares of Tractor Supply from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, October 24th. Barclays upped their price objective on Tractor Supply from $240.00 to $250.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Finally, Piper Sandler upped their price target on shares of Tractor Supply from $300.00 to $332.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $282.82.

Insider Activity

In related news, CFO Kurt D. Barton sold 23,532 shares of Tractor Supply stock in a transaction 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 transaction, the chief financial officer now owns 9,683 shares in the company, valued at $2,862,682.12. This trade represents a 70.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.24% of the stock is owned by insiders.

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.