King Luther Capital Management Corp Sells 12,706 Shares of Tractor Supply (NASDAQ:TSCO)

King Luther Capital Management Corp decreased its holdings in Tractor Supply (NASDAQ:TSCO) by 2.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 452,272 shares of the specialty retailer’s stock after selling 12,706 shares during the period. King Luther Capital Management Corp owned about 0.42% of Tractor Supply worth $122,113,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Wedmont Private Capital raised its holdings in shares of Tractor Supply by 3.6% during the first quarter. Wedmont Private Capital now owns 1,309 shares of the specialty retailer’s stock valued at $331,000 after purchasing an additional 45 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in Tractor Supply by 998.2% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 109,403 shares of the specialty retailer’s stock worth $23,525,000 after purchasing an additional 99,441 shares during the period. Scotia Capital Inc. raised its holdings in Tractor Supply by 792.9% in the 4th quarter. Scotia Capital Inc. now owns 19,438 shares of the specialty retailer’s stock worth $4,180,000 after purchasing an additional 17,261 shares during the period. Assenagon Asset Management S.A. lifted its position in Tractor Supply by 527.7% during the second quarter. Assenagon Asset Management S.A. now owns 26,501 shares of the specialty retailer’s stock valued at $7,155,000 after purchasing an additional 22,279 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Tractor Supply by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 12,804,873 shares of the specialty retailer’s stock valued at $2,753,432,000 after purchasing an additional 48,439 shares during the period. Institutional investors own 98.72% of the company’s stock.

Tractor Supply Price Performance

NASDAQ:TSCO opened at $273.97 on Friday. The business has a 50 day simple moving average of $267.73 and a 200-day simple moving average of $266.44. Tractor Supply has a 1 year low of $185.00 and a 1 year high of $290.38. The firm has a market capitalization of $29.54 billion, a price-to-earnings ratio of 26.68, a PEG ratio of 3.56 and a beta of 0.80. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.43 and a quick ratio of 0.25.

Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share for the quarter, meeting the consensus estimate of $3.93. Tractor Supply had a net margin of 7.65% and a return on equity of 51.84%. The business had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter in the prior year, the firm posted $3.83 earnings per share. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. Equities analysts forecast that Tractor Supply will post 10.23 EPS for the current year.

Tractor Supply Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were paid a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.61%. The ex-dividend date was Monday, August 26th. Tractor Supply’s dividend payout ratio is presently 42.84%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TSCO. Telsey Advisory Group reaffirmed an “outperform” rating and set a $305.00 price target on shares of Tractor Supply in a report on Thursday, July 25th. Truist Financial lifted their target price on shares of Tractor Supply from $289.00 to $293.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Wedbush reiterated a “neutral” rating and issued a $270.00 price target on shares of Tractor Supply in a research note on Friday, July 26th. Loop Capital raised their price target on Tractor Supply from $250.00 to $260.00 and gave the company a “hold” rating in a report on Friday, September 6th. Finally, Wells Fargo & Company upped their price objective on Tractor Supply from $285.00 to $295.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $256.72.

Insider Activity at Tractor Supply

In other news, SVP Matthew L. Rubin sold 540 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $262.35, for a total transaction of $141,669.00. Following the transaction, the senior vice president now directly owns 5,170 shares of the company’s stock, valued at $1,356,349.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.24% of the stock is currently owned by company 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.