Burney Co. cut its position in shares of Tractor Supply (NASDAQ:TSCO) by 20.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,286 shares of the specialty retailer’s stock after selling 2,688 shares during the period. Burney Co.’s holdings in Tractor Supply were worth $1,006,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of TSCO. Icon Wealth Partners LLC acquired a new position in shares of Tractor Supply in the first quarter valued at approximately $27,000. Bruderman Asset Management LLC acquired a new position in shares of Tractor Supply in the fourth quarter valued at approximately $25,000. Rational Advisors LLC grew its holdings in shares of Tractor Supply by 570.9% in the fourth quarter. Rational Advisors LLC now owns 369 shares of the specialty retailer’s stock valued at $31,000 after purchasing an additional 314 shares in the last quarter. Liberty Wealth Management LLC acquired a new position in shares of Tractor Supply in the fourth quarter valued at approximately $31,000. Finally, Laurel Wealth Advisors LLC acquired a new position in shares of Tractor Supply in the fourth quarter valued at approximately $33,000. 81.97% of the stock is currently owned by institutional investors.
A number of research analysts recently weighed in on TSCO shares. Morgan Stanley lifted their price objective on shares of Tractor Supply from $96.00 to $104.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Wells Fargo & Co boosted their price target on shares of Tractor Supply from $102.00 to $108.00 and gave the stock an “outperform” rating in a report on Thursday, February 14th. Loop Capital boosted their price objective on shares of Tractor Supply to $106.00 and gave the stock a “hold” rating in a research report on Monday, April 15th. Gordon Haskett upgraded shares of Tractor Supply from an “accumulate” rating to a “buy” rating in a research report on Thursday, March 21st. Finally, BidaskClub upgraded shares of Tractor Supply from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company’s stock. Tractor Supply has a consensus rating of “Hold” and a consensus price target of $98.42.
TSCO stock opened at $107.28 on Thursday. Tractor Supply has a 12 month low of $73.46 and a 12 month high of $109.67. The firm has a market capitalization of $13.10 billion, a P/E ratio of 24.89, a price-to-earnings-growth ratio of 2.01 and a beta of 1.07. The company has a quick ratio of 0.15, a current ratio of 1.58 and a debt-to-equity ratio of 0.43.
Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $0.63 EPS for the quarter, beating the consensus estimate of $0.56 by $0.07. Tractor Supply had a net margin of 6.68% and a return on equity of 36.16%. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter in the prior year, the firm earned $0.57 EPS. Tractor Supply’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, equities research analysts forecast that Tractor Supply will post 4.77 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Tuesday, May 28th were given a $0.35 dividend. This is an increase from Tractor Supply’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Friday, May 24th. This represents a $1.40 annualized dividend and a yield of 1.30%. Tractor Supply’s dividend payout ratio is 32.48%.
In related news, CEO Gregory A. Sandfort sold 25,896 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $95.00, for a total value of $2,460,120.00. Following the completion of the sale, the chief executive officer now owns 117,554 shares in the company, valued at approximately $11,167,630. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Steve K. Barbarick sold 58,597 shares of the company’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $99.70, for a total transaction of $5,842,120.90. Following the completion of the sale, the chief operating officer now owns 94,301 shares of the company’s stock, valued at approximately $9,401,809.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 328,051 shares of company stock valued at $33,304,084. 1.50% of the stock is owned by insiders.
Tractor Supply Profile
Tractor Supply Company operates rural lifestyle retail stores in the United States. The company offers a selection of merchandise, including equine, livestock, pet, and small animal products necessary for their health, care, growth, and containment; hardware, truck, towing, and tool products; seasonal products, such as heating products, lawn and garden items, power equipment, gifts, and toys; work/recreational clothing and footwear; and maintenance products for agricultural and rural use.
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