MetLife Investment Management LLC Lowers Holdings in Tractor Supply (NASDAQ:TSCO)

MetLife Investment Management LLC reduced its stake in shares of Tractor Supply (NASDAQ:TSCO) by 2.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 32,958 shares of the specialty retailer’s stock after selling 800 shares during the period. MetLife Investment Management LLC’s holdings in Tractor Supply were worth $9,588,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of TSCO. Future Financial Wealth Managment LLC acquired a new stake in shares of Tractor Supply during the 3rd quarter worth $29,000. First Personal Financial Services acquired a new stake in Tractor Supply during the third quarter worth about $29,000. Whittier Trust Co. raised its holdings in shares of Tractor Supply by 60.9% in the 2nd quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock worth $30,000 after purchasing an additional 42 shares during the period. OFI Invest Asset Management purchased a new stake in shares of Tractor Supply during the 2nd quarter worth about $33,000. Finally, DT Investment Partners LLC increased its position in Tractor Supply by 120.0% during the 3rd quarter. DT Investment Partners LLC now owns 132 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 72 shares in the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on TSCO shares. Piper Sandler increased their price objective on shares of Tractor Supply from $300.00 to $332.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Barclays boosted their price objective on Tractor Supply from $240.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Mizuho increased their target price on Tractor Supply from $250.00 to $270.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Melius Research assumed coverage on Tractor Supply in a research report on Monday, September 23rd. They set a “buy” rating and a $315.00 price target on the stock. Finally, DA Davidson lifted their price objective on shares of Tractor Supply from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Two investment 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 company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $282.59.

Insider Activity

In other Tractor Supply news, CFO Kurt D. Barton sold 23,532 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total transaction of $6,957,000.48. Following the completion of the transaction, the chief financial officer now owns 9,683 shares in the company, valued at approximately $2,862,682.12. This represents a 70.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.24% of the stock is owned by company insiders.

Tractor Supply Stock Performance

Tractor Supply stock opened at $281.96 on Friday. Tractor Supply has a 1 year low of $197.00 and a 1 year high of $307.64. The company’s 50-day moving average is $284.43 and its two-hundred day moving average is $275.79. The company has a current ratio of 1.48, a quick ratio of 0.17 and a debt-to-equity ratio of 0.81. The company has a market cap of $30.12 billion, a PE ratio of 27.43, a PEG ratio of 3.54 and a beta of 0.82.

Tractor Supply Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors 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 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%.

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.