Bangor Savings Bank Reduces Stock Holdings in Tractor Supply (NASDAQ:TSCO)

Bangor Savings Bank lowered its stake in Tractor Supply (NASDAQ:TSCO) by 4.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,647 shares of the specialty retailer’s stock after selling 177 shares during the period. Bangor Savings Bank’s holdings in Tractor Supply were worth $1,061,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in Tractor Supply by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 12,804,873 shares of the specialty retailer’s stock worth $2,753,432,000 after purchasing an additional 48,439 shares in the last quarter. Wellington Management Group LLP grew its stake in Tractor Supply by 63.2% in the 4th quarter. Wellington Management Group LLP now owns 4,606,455 shares of the specialty retailer’s stock valued at $990,526,000 after acquiring an additional 1,784,304 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Tractor Supply by 12.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,330,621 shares of the specialty retailer’s stock worth $871,691,000 after acquiring an additional 368,859 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Tractor Supply by 10.9% during 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 in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Tractor Supply by 4.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 800,463 shares of the specialty retailer’s stock valued at $216,125,000 after acquiring an additional 37,071 shares during the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TSCO has been the subject of several research reports. Loop Capital upped their price objective on shares of Tractor Supply from $250.00 to $260.00 and gave the company a “hold” rating in a research note on Friday, September 6th. Wedbush restated a “neutral” rating and issued a $270.00 price objective on shares of Tractor Supply in a report on Friday, July 26th. Truist Financial raised their price objective 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. Evercore ISI lowered Tractor Supply from an “outperform” rating to an “in-line” rating and set a $300.00 price objective on the stock. in a research report on Thursday, October 3rd. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $305.00 price target on shares of Tractor Supply in a research note on Thursday, July 25th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Tractor Supply presently has a consensus rating of “Moderate Buy” and an average price target of $261.70.

Tractor Supply Stock Performance

TSCO stock opened at $293.86 on Tuesday. The stock’s 50 day simple moving average is $272.26 and its 200 day simple moving average is $269.51. Tractor Supply has a 12-month low of $185.00 and a 12-month high of $298.36. The firm has a market cap of $31.68 billion, a P/E ratio of 28.61, a P/E/G ratio of 3.74 and a beta of 0.80. The company has a current ratio of 1.43, a quick ratio of 0.25 and a debt-to-equity ratio of 0.76.

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

Tractor Supply Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date was Monday, August 26th. Tractor Supply’s dividend payout ratio (DPR) is presently 42.84%.

Insider Activity

In other Tractor Supply news, SVP Matthew L. Rubin sold 540 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $262.35, for a total transaction of $141,669.00. Following the sale, the senior vice president now owns 5,170 shares in the company, valued at approximately $1,356,349.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Tractor Supply news, SVP Matthew L. Rubin sold 540 shares of the business’s stock in a transaction 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 sale, the senior vice president now directly owns 5,170 shares of the company’s stock, valued at $1,356,349.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 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.