Global Retirement Partners LLC Lowers Holdings in Tractor Supply (NASDAQ:TSCO)

Global Retirement Partners LLC lowered its holdings in Tractor Supply (NASDAQ:TSCO) by 14.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,883 shares of the specialty retailer’s stock after selling 843 shares during the quarter. Global Retirement Partners LLC’s holdings in Tractor Supply were worth $1,421,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Wedmont Private Capital raised its holdings in Tractor Supply by 3.6% in the 1st quarter. Wedmont Private Capital now owns 1,309 shares of the specialty retailer’s stock valued at $331,000 after buying an additional 45 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Tractor Supply by 527.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 26,501 shares of the specialty retailer’s stock worth $7,155,000 after acquiring an additional 22,279 shares during the last quarter. Congress Asset Management Co. MA boosted its position in shares of Tractor Supply by 7.2% during the 1st quarter. Congress Asset Management Co. MA now owns 163,875 shares of the specialty retailer’s stock worth $42,889,000 after purchasing an additional 10,980 shares during the period. Ballentine Partners LLC increased its holdings in Tractor Supply by 2.1% in the 2nd quarter. Ballentine Partners LLC now owns 4,504 shares of the specialty retailer’s stock valued at $1,216,000 after purchasing an additional 93 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its position in Tractor Supply by 3.4% in the first quarter. Janney Montgomery Scott LLC now owns 143,749 shares of the specialty retailer’s stock valued at $37,622,000 after purchasing an additional 4,788 shares during the period. Institutional investors and hedge funds own 98.72% of the company’s stock.

Tractor Supply Price Performance

Shares of TSCO opened at $297.62 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.43 and a quick ratio of 0.25. Tractor Supply has a 1-year low of $185.00 and a 1-year high of $307.64. The stock has a market cap of $32.09 billion, a PE ratio of 28.98, a price-to-earnings-growth ratio of 3.81 and a beta of 0.80. The firm has a fifty day moving average price of $279.96 and a 200 day moving average price of $271.93.

Tractor Supply (NASDAQ:TSCO) last posted its earnings results on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share for the quarter, meeting the consensus estimate of $3.93. The business had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.28 billion. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the business earned $3.83 EPS. As a group, sell-side analysts anticipate that Tractor Supply will post 10.23 EPS for the current year.

Tractor Supply Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were issued a $1.10 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.48%. Tractor Supply’s payout ratio is 42.84%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Loop Capital raised their price target on Tractor Supply from $250.00 to $260.00 and gave the stock a “hold” rating in a research report on Friday, September 6th. Benchmark reaffirmed a “buy” rating and issued a $280.00 target price on shares of Tractor Supply in a research report on Monday, September 30th. Wedbush reissued a “neutral” rating and set a $270.00 price target on shares of Tractor Supply in a research report on Friday, July 26th. Melius Research initiated coverage on shares of Tractor Supply in a report on Monday, September 23rd. They issued a “buy” rating and a $315.00 price objective for the company. Finally, Citigroup upgraded shares of Tractor Supply from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $272.50.

Insider Activity at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 540 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $262.35, for a total transaction of $141,669.00. Following the transaction, the senior vice president now directly owns 5,170 shares of the company’s stock, valued at approximately $1,356,349.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Kurt D. Barton sold 23,532 shares of Tractor Supply stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $295.64, for a total value of $6,957,000.48. Following the transaction, the chief financial officer now directly owns 9,683 shares in the company, valued at $2,862,682.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Matthew L. Rubin sold 540 shares of Tractor Supply stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $262.35, for a total transaction of $141,669.00. Following the completion of the sale, the senior vice president now directly owns 5,170 shares in the company, valued at approximately $1,356,349.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.

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.