Axxcess Wealth Management LLC Cuts Holdings in Tractor Supply Company (NASDAQ:TSCO)

Axxcess Wealth Management LLC cut its stake in shares of Tractor Supply Company (NASDAQ:TSCO - Free Report) by 17.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,656 shares of the specialty retailer's stock after selling 6,384 shares during the period. Axxcess Wealth Management LLC's holdings in Tractor Supply were worth $1,689,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. FORA Capital LLC boosted its stake in Tractor Supply by 434.1% in 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 period. Allspring Global Investments Holdings LLC boosted its position in shares of Tractor Supply by 7.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 70,944 shares of the specialty retailer's stock worth $3,911,000 after acquiring an additional 5,184 shares during the last quarter. Sowell Financial Services LLC grew its stake in Tractor Supply by 49.3% during the first quarter. Sowell Financial Services LLC now owns 20,029 shares of the specialty retailer's stock valued at $1,104,000 after acquiring an additional 6,612 shares in the last quarter. Sequoia Financial Advisors LLC increased 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 valued at $6,184,000 after acquiring an additional 9,483 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake 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 worth $59,260,000 after purchasing an additional 865,273 shares in the last quarter. Institutional investors own 98.72% of the company's stock.

Insider Buying and Selling at Tractor Supply

In other news, EVP Jonathan S. Estep sold 35,825 shares of the business's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $56.00, for a total transaction of $2,006,200.00. Following the sale, the executive vice president owned 74,605 shares in the company, valued at approximately $4,177,880. The trade was a 32.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Denise L. Jackson sold 1,000 shares of Tractor Supply stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $57.00, for a total transaction of $57,000.00. Following the sale, the director owned 34,288 shares of the company's stock, valued at $1,954,416. The trade was a 2.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 102,445 shares of company stock worth $5,554,242 over the last three months. Corporate insiders own 0.65% of the company's stock.

Tractor Supply Stock Down 1.1%

Shares of NASDAQ TSCO traded down $0.65 during midday trading on Friday, reaching $56.79. 5,881,088 shares of the company's stock traded hands, compared to its average volume of 5,163,963. The company has a market cap of $30.11 billion, a price-to-earnings ratio of 28.20, a P/E/G ratio of 3.09 and a beta of 0.75. The stock's 50 day simple moving average is $51.93 and its 200-day simple moving average is $53.08. The company has a quick ratio of 0.17, a current ratio of 1.41 and a debt-to-equity ratio of 0.94. Tractor Supply Company has a one year low of $46.85 and a one year high of $61.53.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its earnings results on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $3.55 billion. During the same period last year, the business posted $1.83 EPS. The firm's revenue was up 2.1% compared to the same quarter last year. On average, analysts predict that Tractor Supply Company will post 2.17 EPS for the current fiscal year.

Tractor Supply Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.92 dividend on an annualized basis and a yield of 1.62%. Tractor Supply's payout ratio is 45.77%.

Wall Street Analyst Weigh In

TSCO has been the topic of several research reports. JPMorgan Chase & Co. reduced their target price on Tractor Supply from $59.00 to $56.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Wall Street Zen downgraded Tractor Supply from a "hold" rating to a "sell" rating in a research report on Friday, June 6th. Robert W. Baird reduced their price target on shares of Tractor Supply from $63.00 to $56.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Stephens assumed coverage on shares of Tractor Supply in a report on Wednesday, April 9th. They issued an "equal weight" rating and a $56.00 target price on the stock. Finally, UBS Group set a $54.00 price target on shares of Tractor Supply in a report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target 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.