Assenagon Asset Management S.A. Sells 42,106 Shares of Tractor Supply Company (NASDAQ:TSCO)

Assenagon Asset Management S.A. decreased its position in Tractor Supply Company (NASDAQ:TSCO - Free Report) by 58.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,335 shares of the specialty retailer's stock after selling 42,106 shares during the period. Assenagon Asset Management S.A.'s holdings in Tractor Supply were worth $1,616,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Smithfield Trust Co lifted its stake in shares of Tractor Supply by 286.2% in the 4th quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock valued at $25,000 after purchasing an additional 352 shares during the period. Coppell Advisory Solutions LLC increased its holdings in Tractor Supply by 944.4% in the fourth quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer's stock worth $25,000 after purchasing an additional 425 shares in the last quarter. First Command Advisory Services Inc. lifted its stake in Tractor Supply by 400.0% in the fourth quarter. First Command Advisory Services Inc. now owns 500 shares of the specialty retailer's stock valued at $27,000 after buying an additional 400 shares during the period. Whittier Trust Co. boosted its holdings in shares of Tractor Supply by 400.0% during the 4th quarter. Whittier Trust Co. now owns 500 shares of the specialty retailer's stock worth $27,000 after buying an additional 400 shares in the last quarter. Finally, Dunhill Financial LLC grew its position in shares of Tractor Supply by 325.8% during the 4th quarter. Dunhill Financial LLC now owns 511 shares of the specialty retailer's stock worth $27,000 after buying an additional 391 shares during the period. Institutional investors own 98.72% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on TSCO shares. Guggenheim lowered their price objective on shares of Tractor Supply from $60.00 to $55.00 and set a "buy" rating for the company in a research note 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. UBS Group set a $54.00 price objective on shares of Tractor Supply in a research report on Friday, April 25th. JPMorgan Chase & Co. reduced their target price on Tractor Supply from $59.00 to $56.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Finally, Raymond James Financial dropped their price target on Tractor Supply from $61.00 to $57.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $58.02.

Tractor Supply Stock Performance

NASDAQ TSCO opened at $50.98 on Wednesday. The company has a fifty day moving average price of $50.66 and a 200-day moving average price of $53.27. The firm has a market cap of $27.03 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 2.78 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 1 year low of $46.85 and a 1 year high of $61.53.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its quarterly 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 for the quarter, compared to analysts' expectations of $3.55 billion. During the same quarter last year, the firm posted $1.83 earnings per share. The firm's revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities research analysts predict that Tractor Supply Company will post 2.17 EPS for the current fiscal year.

Tractor Supply Cuts Dividend

The business also recently declared 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 1.80%. The ex-dividend date was Wednesday, May 28th. Tractor Supply's dividend payout ratio (DPR) is currently 45.77%.

Insider Activity at Tractor Supply

In related news, SVP Matthew L. Rubin sold 2,810 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $51.76, for a total value of $145,445.60. Following the transaction, the senior vice president now owns 29,722 shares in the company, valued at approximately $1,538,410.72. This represents a 8.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.65% of the stock is owned by company insiders.

Tractor Supply 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.

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