Zurcher Kantonalbank Zurich Cantonalbank Sells 56,874 Shares of Tractor Supply (NASDAQ:TSCO)

Zurcher Kantonalbank Zurich Cantonalbank reduced its position in shares of Tractor Supply (NASDAQ:TSCO) by 23.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 186,002 shares of the specialty retailer’s stock after selling 56,874 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Tractor Supply were worth $54,114,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in shares of Tractor Supply by 10.9% during the 2nd 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 in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in 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 acquiring an additional 29,730 shares during the period. Provident Trust Co. boosted its position in Tractor Supply by 1.7% in the third quarter. Provident Trust Co. now owns 679,701 shares of the specialty retailer’s stock worth $197,745,000 after purchasing an additional 11,139 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Tractor Supply by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 631,406 shares of the specialty retailer’s stock valued at $183,695,000 after purchasing an additional 8,142 shares during the period. Finally, King Luther Capital Management Corp increased its position in shares of Tractor Supply by 0.4% during the 3rd quarter. King Luther Capital Management Corp now owns 454,290 shares of the specialty retailer’s stock valued at $132,166,000 after purchasing an additional 2,018 shares during the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TSCO shares. Citigroup downgraded shares of Tractor Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. Raymond James increased 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. Robert W. Baird set a $320.00 price target on shares of Tractor Supply in a report on Thursday, October 17th. Loop Capital upped their price objective on Tractor Supply from $250.00 to $260.00 and gave the company a “hold” rating in a research note on Friday, September 6th. Finally, Gordon Haskett downgraded Tractor Supply from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $282.59.

Insider Buying and Selling

In related news, CFO Kurt D. Barton sold 23,532 shares of the business’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 sale, the chief financial officer now 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 filing with the SEC, which is available through the SEC website. 0.24% of the stock is owned by company insiders.

Tractor Supply Trading Up 0.6 %

Shares of TSCO opened at $281.96 on Friday. 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 $197.00 and a 1-year high of $307.64. The company has a market capitalization of $30.12 billion, a P/E ratio of 27.43, a P/E/G ratio of 3.54 and a beta of 0.82. The firm’s 50 day simple moving average is $284.43 and its 200 day simple moving average is $275.79.

Tractor Supply Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Monday, November 25th. Tractor Supply’s dividend payout ratio is currently 42.80%.

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.