Rehmann Capital Advisory Group Acquires Shares of 4,804 Tractor Supply Company (NASDAQ:TSCO)

Rehmann Capital Advisory Group purchased a new position in shares of Tractor Supply Company (NASDAQ:TSCO - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 4,804 shares of the specialty retailer's stock, valued at approximately $265,000.

Other large investors also recently modified their holdings of the company. FORA Capital LLC increased its stake 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 worth $1,885,000 after purchasing an additional 28,875 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Tractor Supply by 7.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 70,944 shares of the specialty retailer's stock worth $3,911,000 after buying an additional 5,184 shares during the period. Sowell Financial Services LLC boosted its holdings in Tractor Supply by 49.3% in the 1st quarter. Sowell Financial Services LLC now owns 20,029 shares of the specialty retailer's stock worth $1,104,000 after buying an additional 6,612 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in Tractor Supply by 9.2% in the 1st quarter. Sequoia Financial Advisors LLC now owns 112,233 shares of the specialty retailer's stock worth $6,184,000 after buying an additional 9,483 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its holdings in Tractor Supply by 385.8% in 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 period. Hedge funds and other institutional investors own 98.72% of the company's stock.

Insider Buying and Selling

In other Tractor Supply news, EVP Jonathan S. Estep sold 56,630 shares of the business's stock in a transaction dated 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 transaction, the executive vice president owned 74,605 shares in the company, valued at approximately $3,954,065. The trade was a 43.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Matthew L. Rubin sold 2,810 shares of the business's stock in a transaction dated 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 owned 29,722 shares in the company, valued at $1,538,410.72. The trade was a 8.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 102,445 shares of company stock worth $5,554,242 in the last 90 days. 0.65% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on TSCO shares. Stephens started coverage on shares of Tractor Supply in a report on Wednesday, April 9th. They issued an "equal weight" rating and a $56.00 price target for the company. UBS Group set a $54.00 price target on shares of Tractor Supply in a report on Friday, April 25th. Wall Street Zen downgraded shares of Tractor Supply from a "hold" rating to a "sell" rating in a report on Friday, June 6th. Raymond James Financial cut their price target on shares of Tractor Supply from $61.00 to $57.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. cut their price target 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. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Tractor Supply presently has an average rating of "Moderate Buy" and a consensus price target of $58.02.

Tractor Supply Trading Down 1.1%

NASDAQ:TSCO traded down $0.65 during trading hours on Friday, reaching $56.79. The company's stock had a trading volume of 5,881,088 shares, compared to its average volume of 5,163,963. The firm has a market capitalization of $30.11 billion, a price-to-earnings ratio of 28.20, a PEG ratio of 3.09 and a beta of 0.75. The firm has a 50-day simple moving average of $52.05 and a 200-day simple moving average of $53.09. Tractor Supply Company has a 1 year low of $46.85 and a 1 year high of $61.53. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.17 and a current ratio of 1.41.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its earnings results on Thursday, April 24th. The specialty retailer reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.03). The business had revenue of $3.47 billion during the quarter, compared to analysts' expectations of $3.55 billion. Tractor Supply had a return on equity of 47.56% and a net margin of 7.24%. Tractor Supply's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.83 EPS. Research analysts expect that Tractor Supply Company will post 2.17 EPS 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 given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend was Wednesday, May 28th. Tractor Supply's payout ratio is presently 45.77%.

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.