Federated Hermes Inc. Cuts Position in Tractor Supply (NASDAQ:TSCO)

Federated Hermes Inc. trimmed its position in Tractor Supply (NASDAQ:TSCO) by 2.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 265,907 shares of the specialty retailer’s stock after selling 5,345 shares during the quarter. Federated Hermes Inc. owned 0.25% of Tractor Supply worth $71,795,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Wedmont Private Capital raised its holdings in shares of Tractor Supply by 3.6% during the 1st quarter. Wedmont Private Capital now owns 1,309 shares of the specialty retailer’s stock valued at $331,000 after buying an additional 45 shares during the period. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Tractor Supply by 998.2% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 109,403 shares of the specialty retailer’s stock valued at $23,525,000 after buying an additional 99,441 shares during the period. Scotia Capital Inc. raised its holdings in shares of Tractor Supply by 792.9% during the 4th quarter. Scotia Capital Inc. now owns 19,438 shares of the specialty retailer’s stock valued at $4,180,000 after buying an additional 17,261 shares during the period. Assenagon Asset Management S.A. grew its stake in Tractor Supply by 527.7% during the 2nd 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 stake in Tractor Supply by 0.4% during the 4th 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 in the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Tractor Supply Stock Up 1.2 %

Shares of Tractor Supply stock opened at $282.96 on Friday. The business’s fifty day moving average price is $266.57 and its two-hundred day moving average price is $265.80. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.43 and a quick ratio of 0.25. The company has a market capitalization of $30.52 billion, a P/E ratio of 27.55, a PEG ratio of 3.47 and a beta of 0.80. Tractor Supply has a 1-year low of $185.00 and a 1-year high of $290.38.

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 return on equity of 51.84% and a net margin of 7.65%. The firm had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter in the previous year, the business earned $3.83 EPS. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, research analysts forecast that Tractor Supply will post 10.23 EPS for the current year.

Tractor Supply Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date was Monday, August 26th. Tractor Supply’s dividend payout ratio is presently 42.84%.

Wall Street Analysts Forecast Growth

TSCO has been the subject of a number of recent analyst reports. Truist Financial raised their price objective on Tractor Supply from $289.00 to $293.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Wells Fargo & Company lifted their target price on Tractor Supply from $285.00 to $295.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. Wedbush reiterated a “neutral” rating and issued a $270.00 target price on shares of Tractor Supply in a research report on Friday, July 26th. Telsey Advisory Group reiterated an “outperform” rating and issued a $305.00 target price on shares of Tractor Supply in a research report on Thursday, July 25th. Finally, Evercore ISI decreased their target price on Tractor Supply from $290.00 to $280.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. 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. According to data from MarketBeat, Tractor Supply currently has a consensus rating of “Hold” and an average price target of $256.72.

Insider Transactions at Tractor Supply

In other news, SVP Matthew L. Rubin sold 540 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $262.35, for a total value of $141,669.00. Following the sale, the senior vice president now owns 5,170 shares of the company’s stock, valued at approximately $1,356,349.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.24% of the company’s stock.

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.