Tractor Supply (NASDAQ:TSCO) Shares Sold by Independent Advisor Alliance

Independent Advisor Alliance reduced its stake in Tractor Supply (NASDAQ:TSCO) by 10.2% in the third quarter, HoldingsChannel.com reports. The fund owned 3,230 shares of the specialty retailer’s stock after selling 368 shares during the quarter. Independent Advisor Alliance’s holdings in Tractor Supply were worth $940,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position 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 buying an additional 110,342 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Tractor Supply by 3.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 830,193 shares of the specialty retailer’s stock worth $241,528,000 after buying an additional 29,730 shares during the period. Provident Trust Co. boosted its position in shares of Tractor Supply by 1.7% during the third quarter. Provident Trust Co. now owns 679,701 shares of the specialty retailer’s stock worth $197,745,000 after buying an additional 11,139 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Tractor Supply by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 631,406 shares of the specialty retailer’s stock worth $183,695,000 after buying an additional 8,142 shares during the period. Finally, King Luther Capital Management Corp boosted its position in shares of Tractor Supply by 0.4% during the third quarter. King Luther Capital Management Corp now owns 454,290 shares of the specialty retailer’s stock worth $132,166,000 after buying an additional 2,018 shares during the period. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Tractor Supply Price Performance

Shares of NASDAQ:TSCO opened at $281.96 on Thursday. The company’s fifty day moving average is $284.30 and its two-hundred day moving average is $275.74. The company has a quick ratio of 0.17, a current ratio of 1.48 and a debt-to-equity ratio of 0.81. Tractor Supply has a 12-month low of $197.00 and a 12-month high of $307.64. The company has a market cap of $30.12 billion, a P/E ratio of 27.43, a price-to-earnings-growth ratio of 3.59 and a beta of 0.82.

Tractor Supply Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders 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 dividend yield of 1.56%. The ex-dividend date of this dividend is Monday, November 25th. Tractor Supply’s dividend payout ratio is currently 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 shares were sold at an average price of $295.64, for a total transaction of $6,957,000.48. Following the transaction, the chief financial officer now directly owns 9,683 shares in the company, valued at $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 available at this link. 0.58% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TSCO has been the subject of several analyst reports. Benchmark boosted their price objective on Tractor Supply from $280.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Piper Sandler boosted 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. Robert W. Baird set a $320.00 target price on Tractor Supply in a report on Thursday, October 17th. UBS Group boosted their target price on Tractor Supply from $272.00 to $280.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Finally, Citigroup cut Tractor Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $282.59.

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.