Cullen Frost Bankers Inc. Sells 465 Shares of Tractor Supply (NASDAQ:TSCO)

Cullen Frost Bankers Inc. decreased its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 2.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 19,014 shares of the specialty retailer’s stock after selling 465 shares during the period. Cullen Frost Bankers Inc.’s holdings in Tractor Supply were worth $4,089,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP raised its holdings in Tractor Supply by 9,370.6% in the 3rd quarter. Wellington Management Group LLP now owns 2,822,151 shares of the specialty retailer’s stock worth $573,038,000 after acquiring an additional 2,792,352 shares during the last quarter. Invesco Ltd. raised its stake in Tractor Supply by 76.7% during the 3rd quarter. Invesco Ltd. now owns 2,024,182 shares of the specialty retailer’s stock valued at $411,010,000 after buying an additional 878,874 shares during the last quarter. Alecta Tjanstepension Omsesidigt lifted its holdings in shares of Tractor Supply by 87.5% during the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 750,000 shares of the specialty retailer’s stock valued at $161,272,000 after buying an additional 350,000 shares during the period. International Assets Investment Management LLC increased its position in Tractor Supply by 32,987.5% during the fourth quarter. International Assets Investment Management LLC now owns 270,325 shares of the specialty retailer’s stock valued at $58,128,000 after acquiring an additional 269,508 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Tractor Supply by 22.4% in the third quarter. Envestnet Asset Management Inc. now owns 1,148,340 shares of the specialty retailer’s stock valued at $233,170,000 after acquiring an additional 210,131 shares during the period. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Tractor Supply Price Performance

Shares of NASDAQ TSCO opened at $266.65 on Thursday. The firm has a 50-day simple moving average of $257.00 and a 200-day simple moving average of $230.56. The company has a quick ratio of 0.19, a current ratio of 1.40 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $28.78 billion, a price-to-earnings ratio of 25.96, a price-to-earnings-growth ratio of 3.41 and a beta of 0.82. Tractor Supply has a 52 week low of $185.00 and a 52 week high of $279.38.

Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.13. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. The business had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same period in the previous year, the firm posted $1.65 EPS. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, equities analysts predict that Tractor Supply will post 10.3 earnings per share for the current fiscal year.

Tractor Supply Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 28th will be issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.65%. Tractor Supply’s dividend payout ratio is presently 42.84%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on TSCO shares. Piper Sandler raised their price objective on shares of Tractor Supply from $265.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. JPMorgan Chase & Co. raised their price target on Tractor Supply from $241.00 to $263.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Barclays boosted their target price on shares of Tractor Supply from $234.00 to $240.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Evercore ISI upped their price objective on Tractor Supply from $275.00 to $280.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Finally, Benchmark restated a “buy” rating and set a $256.00 target price on shares of Tractor Supply in a report on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Tractor Supply has an average rating of “Hold” and a consensus price target of $253.54.

Insider Activity

In related news, CFO Kurt D. Barton sold 401 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $232.06, for a total value of $93,056.06. Following the sale, the chief financial officer now directly owns 25,013 shares in the company, valued at approximately $5,804,516.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Kurt D. Barton sold 401 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $232.06, for a total transaction of $93,056.06. Following the transaction, the chief financial officer now owns 25,013 shares of the company’s stock, valued at approximately $5,804,516.78. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Matthew L. Rubin sold 725 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $238.09, for a total value of $172,615.25. Following the sale, the senior vice president now directly owns 5,710 shares in the company, valued at approximately $1,359,493.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 62,470 shares of company stock valued at $14,773,121. 0.58% of the stock is currently 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.