Dynamic Technology Lab Private Ltd Reduces Stock Position in Tractor Supply (NASDAQ:TSCO)

Dynamic Technology Lab Private Ltd reduced its holdings in Tractor Supply (NASDAQ:TSCO) by 43.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 4,300 shares of the specialty retailer’s stock after selling 3,241 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Tractor Supply were worth $1,251,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Marshall Wace LLP grew its holdings in shares of Tractor Supply by 2,921.4% during the 2nd quarter. Marshall Wace LLP now owns 357,225 shares of the specialty retailer’s stock worth $96,451,000 after acquiring an additional 345,402 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Tractor Supply by 29,058.6% in the third quarter. International Assets Investment Management LLC now owns 233,269 shares of the specialty retailer’s stock worth $67,865,000 after buying an additional 232,469 shares in the last quarter. Clearbridge Investments LLC lifted its position in Tractor Supply by 67.4% in the 2nd quarter. Clearbridge Investments LLC now owns 403,710 shares of the specialty retailer’s stock valued at $109,002,000 after acquiring an additional 162,533 shares in the last quarter. Employees Retirement System of Texas purchased a new stake in shares of Tractor Supply during the second quarter valued at $38,070,000. Finally, Swedbank AB purchased a new stake in shares of Tractor Supply during the 1st quarter valued at about $34,262,000. 98.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TSCO has been the subject of a number of recent research reports. Wedbush restated a “neutral” rating and set a $270.00 price target on shares of Tractor Supply in a research note on Friday, October 25th. DA Davidson increased their price target on Tractor Supply from $300.00 to $325.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Wells Fargo & Company reduced their price objective on shares of Tractor Supply from $325.00 to $320.00 and set an “overweight” rating on the stock in a research report on Monday. Piper Sandler lifted their target price on Tractor Supply from $300.00 to $332.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, JPMorgan Chase & Co. upped their price target on shares of Tractor Supply from $260.00 to $290.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $282.59.

Tractor Supply Stock Down 2.0 %

Shares of NASDAQ TSCO opened at $280.19 on Wednesday. Tractor Supply has a 52-week low of $197.00 and a 52-week high of $307.64. The firm has a market capitalization of $29.94 billion, a price-to-earnings ratio of 27.26, a PEG ratio of 3.53 and a beta of 0.82. The stock has a 50 day moving average price of $284.23 and a 200 day moving average price of $275.68. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.17 and a current ratio of 1.48.

Tractor Supply Announces Dividend

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 issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.57%. The ex-dividend date is Monday, November 25th. Tractor Supply’s payout ratio is 42.80%.

Insider Activity

In other news, CFO Kurt D. Barton sold 23,532 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was 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 approximately $2,862,682.12. The trade was a 70.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.58% of the company’s stock.

Tractor Supply 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.