Sumitomo Mitsui Trust Group Inc. Buys 5,759 Shares of Tractor Supply (NASDAQ:TSCO)

Sumitomo Mitsui Trust Group Inc. grew its position in shares of Tractor Supply (NASDAQ:TSCO) by 2.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 247,752 shares of the specialty retailer’s stock after purchasing an additional 5,759 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Tractor Supply were worth $72,078,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Henrickson Nauta Wealth Advisors Inc. increased its position in shares of Tractor Supply by 3.2% during the third quarter. Henrickson Nauta Wealth Advisors Inc. now owns 1,127 shares of the specialty retailer’s stock worth $328,000 after buying an additional 35 shares during the period. Private Advisor Group LLC grew its holdings in Tractor Supply by 0.5% during the 3rd quarter. Private Advisor Group LLC now owns 7,693 shares of the specialty retailer’s stock worth $2,238,000 after acquiring an additional 37 shares during the period. Signature Wealth Management Group raised its position in shares of Tractor Supply by 0.5% in the 2nd quarter. Signature Wealth Management Group now owns 6,999 shares of the specialty retailer’s stock worth $1,890,000 after acquiring an additional 38 shares in the last quarter. X Square Capital LLC raised its position in shares of Tractor Supply by 1.6% in the 2nd quarter. X Square Capital LLC now owns 2,579 shares of the specialty retailer’s stock worth $696,000 after acquiring an additional 41 shares in the last quarter. Finally, TCI Wealth Advisors Inc. lifted its stake in shares of Tractor Supply by 5.1% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 846 shares of the specialty retailer’s stock valued at $246,000 after purchasing an additional 41 shares during the period. Institutional investors and hedge funds own 98.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Piper Sandler raised their target price on Tractor Supply from $300.00 to $332.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Citigroup lowered shares of Tractor Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 17th. Raymond James boosted their target price on shares of Tractor Supply from $285.00 to $290.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. raised their price target on shares of Tractor Supply from $260.00 to $290.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Finally, Barclays upped their price objective on shares of Tractor Supply from $240.00 to $250.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $282.82.

Tractor Supply Stock Performance

NASDAQ TSCO opened at $277.08 on Friday. The company has a fifty day moving average price of $284.23 and a 200-day moving average price of $275.32. The firm has a market cap of $29.60 billion, a price-to-earnings ratio of 26.95, a PEG ratio of 3.50 and a beta of 0.82. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.48 and a quick ratio of 0.17. Tractor Supply has a 1 year low of $193.73 and a 1 year high of $307.64.

Tractor Supply Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be paid a $1.10 dividend. The ex-dividend date is Monday, November 25th. This represents a $4.40 annualized dividend and a yield of 1.59%. Tractor Supply’s dividend payout ratio (DPR) is 42.80%.

Insiders Place Their Bets

In other news, CFO Kurt D. Barton sold 23,532 shares of the company’s stock in a transaction that occurred 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 $2,862,682.12. This represents a 70.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.24% of the company’s stock.

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.