Golden State Equity Partners Cuts Stock Position in Tractor Supply Company (NASDAQ:TSCO)

Golden State Equity Partners lessened its holdings in Tractor Supply Company (NASDAQ:TSCO) by 31.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,327 shares of the specialty retailer’s stock after selling 1,952 shares during the period. Golden State Equity Partners’ holdings in Tractor Supply were worth $238,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in Tractor Supply by 392.5% during the 4th quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer’s stock worth $3,397,643,000 after buying an additional 51,031,178 shares during the period. Wellington Management Group LLP increased its stake in Tractor Supply by 401.8% during the 4th quarter. Wellington Management Group LLP now owns 23,789,249 shares of the specialty retailer’s stock worth $1,262,258,000 after buying an additional 19,048,385 shares during the period. Alliancebernstein L.P. increased its stake in Tractor Supply by 403.3% during the 4th quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer’s stock worth $1,180,932,000 after buying an additional 17,834,643 shares during the period. Capital World Investors increased its stake in Tractor Supply by 403.7% during the 4th quarter. Capital World Investors now owns 19,433,135 shares of the specialty retailer’s stock worth $1,031,122,000 after buying an additional 15,575,311 shares during the period. Finally, Capital International Investors grew its holdings in Tractor Supply by 334.7% during the 4th quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer’s stock worth $818,421,000 after acquiring an additional 11,880,010 shares in the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Stock Performance

Tractor Supply stock opened at $51.84 on Friday. The firm’s 50 day simple moving average is $50.89 and its 200-day simple moving average is $53.08. The company has a market cap of $27.49 billion, a P/E ratio of 25.74, a price-to-earnings-growth ratio of 2.84 and a beta of 0.74. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.41 and a quick ratio of 0.17. Tractor Supply Company has a fifty-two week low of $46.85 and a fifty-two week high of $61.53.

Tractor Supply (NASDAQ:TSCO) last released its earnings results on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). Tractor Supply had a return on equity of 47.56% and a net margin of 7.24%. The firm had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.55 billion. During the same period last year, the business earned $1.83 earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. As a group, equities research analysts predict that Tractor Supply Company will post 2.17 EPS for the current year.

Tractor Supply Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date was Wednesday, May 28th. Tractor Supply’s payout ratio is presently 45.77%.

Wall Street Analyst Weigh In

TSCO has been the subject of several recent analyst reports. UBS Group set a $54.00 price objective on shares of Tractor Supply in a report on Friday, April 25th. Guggenheim decreased their price objective on shares of Tractor Supply from $60.00 to $55.00 and set a “buy” rating for the company in a report on Friday, April 25th. Citigroup decreased their price objective on shares of Tractor Supply from $59.00 to $51.00 and set a “neutral” rating for the company in a report on Friday, April 25th. Mizuho decreased their price target on shares of Tractor Supply from $62.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Finally, Wall Street Zen lowered shares of Tractor Supply from a “hold” rating to a “sell” rating in a report on Friday, June 6th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $58.02.

Insider Activity at Tractor Supply

In related news, SVP Matthew L. Rubin sold 2,810 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $51.76, for a total transaction of $145,445.60. Following the transaction, the senior vice president now directly owns 29,722 shares of the company’s stock, valued at approximately $1,538,410.72. The trade was a 8.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Jonathan S. Estep sold 56,630 shares of the business’s stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $53.00, for a total transaction of $3,001,390.00. Following the transaction, the executive vice president now directly owns 74,605 shares in the company, valued at $3,954,065. The trade was a 43.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by insiders.

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.