TRUE Private Wealth Advisors Cuts Position in Tractor Supply (NASDAQ:TSCO)

TRUE Private Wealth Advisors lowered its stake in shares of Tractor Supply (NASDAQ:TSCO) by 34.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,566 shares of the specialty retailer’s stock after selling 826 shares during the quarter. TRUE Private Wealth Advisors’ holdings in Tractor Supply were worth $291,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of TSCO. Grandview Asset Management LLC purchased a new position in Tractor Supply in the first quarter valued at $27,000. Wagner Wealth Management LLC purchased a new position in Tractor Supply in the first quarter valued at $27,000. Baillie Gifford & Co. purchased a new position in Tractor Supply in the second quarter valued at $28,000. WASHINGTON TRUST Co increased its holdings in Tractor Supply by 161.3% in the second quarter. WASHINGTON TRUST Co now owns 162 shares of the specialty retailer’s stock valued at $31,000 after buying an additional 100 shares during the last quarter. Finally, Whittier Trust Co. increased its holdings in Tractor Supply by 126.6% in the second quarter. Whittier Trust Co. now owns 179 shares of the specialty retailer’s stock valued at $33,000 after buying an additional 100 shares during the last quarter. 86.68% of the stock is currently owned by institutional investors and hedge funds.

In related news, EVP John P. Ordus sold 19,429 shares of the firm’s stock in a transaction that occurred on Friday, September 10th. The shares were sold at an average price of $205.00, for a total transaction of $3,982,945.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CMO Jonathan S. Estep sold 3,786 shares of the firm’s stock in a transaction that occurred on Friday, August 20th. The stock was sold at an average price of $198.00, for a total transaction of $749,628.00. Following the sale, the chief marketing officer now owns 9,455 shares in the company, valued at approximately $1,872,090. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.

Several equities analysts recently commented on TSCO shares. Northcoast Research raised Tractor Supply from a “neutral” rating to a “buy” rating and set a $220.00 target price on the stock in a report on Thursday, July 1st. Morgan Stanley increased their target price on Tractor Supply from $190.00 to $195.00 and gave the company an “equal weight” rating in a report on Tuesday, July 20th. Telsey Advisory Group upped their price objective on shares of Tractor Supply from $205.00 to $213.00 and gave the company an “outperform” rating in a research note on Friday, July 16th. Piper Sandler upped their price objective on shares of Tractor Supply from $210.00 to $218.00 and gave the company an “overweight” rating in a research note on Thursday, July 15th. Finally, Zacks Investment Research downgraded shares of Tractor Supply from a “buy” rating to a “hold” rating and set a $214.00 price objective for the company. in a research note on Tuesday. Eleven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $193.73.

Tractor Supply stock traded down $0.40 during mid-day trading on Wednesday, reaching $204.86. The company had a trading volume of 6,467 shares, compared to its average volume of 1,070,307. Tractor Supply has a 1 year low of $127.78 and a 1 year high of $207.54. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.71 and a quick ratio of 0.76. The company has a market capitalization of $23.42 billion, a P/E ratio of 27.33, a P/E/G ratio of 2.66 and a beta of 1.03. The stock’s 50-day simple moving average is $190.95 and its 200-day simple moving average is $183.55.

Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Sunday, July 18th. The specialty retailer reported $3.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.94 by $0.25. Tractor Supply had a net margin of 7.39% and a return on equity of 49.01%. The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.48 billion. During the same period last year, the company posted $2.90 earnings per share. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, equities analysts forecast that Tractor Supply will post 7.96 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 8th. Shareholders of record on Monday, August 23rd were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 20th. This represents a $2.08 dividend on an annualized basis and a yield of 1.02%. Tractor Supply’s dividend payout ratio (DPR) is presently 30.28%.

About Tractor Supply

Tractor Supply Co engages in the retail sale of farm and ranch products. It operates retail farm & ranch stores and focuses on supplying the lifestyle needs of recreational farmers and ranchers, as well as tradesmen and small businesses. The firm operates the retail stores under the names: Tractor Supply Company, Del’s Feed & Farm Supply, and Petsense.

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Institutional Ownership by Quarter for Tractor Supply (NASDAQ:TSCO)

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