Transcend Capital Advisors LLC Grows Stock Position in Tractor Supply Company (NASDAQ:TSCO)

Transcend Capital Advisors LLC grew its holdings in shares of Tractor Supply Company (NASDAQ:TSCO) by 4.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 25,280 shares of the specialty retailer’s stock after purchasing an additional 1,075 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Tractor Supply were worth $1,393,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FORA Capital LLC increased its position in shares of Tractor Supply by 434.1% during the 4th quarter. FORA Capital LLC now owns 35,526 shares of the specialty retailer’s stock valued at $1,885,000 after purchasing an additional 28,875 shares during the last quarter. Sowell Financial Services LLC increased its position in shares of Tractor Supply by 49.3% during the 1st quarter. Sowell Financial Services LLC now owns 20,029 shares of the specialty retailer’s stock valued at $1,104,000 after purchasing an additional 6,612 shares during the last quarter. CIBC Private Wealth Group LLC increased its position in shares of Tractor Supply by 385.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,089,542 shares of the specialty retailer’s stock valued at $59,260,000 after purchasing an additional 865,273 shares during the last quarter. BOK Financial Private Wealth Inc. increased its position in shares of Tractor Supply by 330.2% during the 4th quarter. BOK Financial Private Wealth Inc. now owns 21,355 shares of the specialty retailer’s stock valued at $1,133,000 after purchasing an additional 16,391 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Tractor Supply by 27.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 319,132 shares of the specialty retailer’s stock valued at $17,584,000 after purchasing an additional 68,487 shares during the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Insider Activity at Tractor Supply

In related news, EVP Jonathan S. Estep sold 56,630 shares of the firm’s stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $53.00, for a total value of $3,001,390.00. Following the completion of the transaction, the executive vice president now directly owns 74,605 shares of the company’s stock, valued at approximately $3,954,065. This trade represents a 43.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Matthew L. Rubin sold 2,810 shares of the firm’s stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 29,722 shares of the company’s stock, valued at approximately $1,538,410.72. This trade represents a 8.64% 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 Trading Down 0.3%

Shares of TSCO opened at $51.71 on Friday. 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 1 year low of $46.85 and a 1 year high of $61.53. The company has a 50 day simple moving average of $50.92 and a two-hundred day simple moving average of $53.04. The firm has a market cap of $27.42 billion, a P/E ratio of 25.68, a price-to-earnings-growth ratio of 2.79 and a beta of 0.74.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). Tractor Supply had a net margin of 7.24% and a return on equity of 47.56%. The company had revenue of $3.47 billion for 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 company’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities analysts expect that Tractor Supply Company will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date was Wednesday, May 28th. Tractor Supply’s dividend payout ratio (DPR) is presently 45.77%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Mizuho reduced their target price 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. Telsey Advisory Group set a $60.00 target price on shares of Tractor Supply in a report on Friday, April 25th. Wall Street Zen lowered shares of Tractor Supply from a “hold” rating to a “sell” rating in a report on Friday, June 6th. JPMorgan Chase & Co. reduced their target price on shares of Tractor Supply from $59.00 to $56.00 and set a “neutral” rating for the company in a report on Monday, April 28th. Finally, Citigroup reduced their target price 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. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $58.02.

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.