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

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

Other institutional investors also recently modified their holdings of the company. Wedmont Private Capital boosted its holdings in shares of Tractor Supply by 2.5% during the 1st quarter. Wedmont Private Capital now owns 8,714 shares of the specialty retailer's stock valued at $450,000 after acquiring an additional 212 shares during the last quarter. Creative Financial Designs Inc. ADV raised its stake in Tractor Supply by 30.1% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 920 shares of the specialty retailer's stock valued at $51,000 after buying an additional 213 shares during the last quarter. Procyon Advisors LLC raised its stake in Tractor Supply by 1.7% during the 1st quarter. Procyon Advisors LLC now owns 14,371 shares of the specialty retailer's stock valued at $792,000 after buying an additional 238 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Tractor Supply by 5.5% in the first quarter. International Assets Investment Management LLC now owns 4,678 shares of the specialty retailer's stock worth $258,000 after acquiring an additional 242 shares during the period. Finally, Checchi Capital Advisers LLC increased its position in Tractor Supply by 2.6% during the first quarter. Checchi Capital Advisers LLC now owns 10,785 shares of the specialty retailer's stock valued at $594,000 after acquiring an additional 270 shares during the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tractor Supply

In other Tractor Supply news, 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 value of $145,445.60. Following the completion of the sale, the senior vice president directly owned 29,722 shares of the company's stock, valued at $1,538,410.72. The trade was a 8.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Denise L. Jackson sold 4,630 shares of the company's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $55.93, for a total transaction of $258,955.90. Following the completion of the transaction, the director owned 35,288 shares in the company, valued at $1,973,657.84. This represents a 11.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 101,445 shares of company stock worth $5,497,242. Insiders own 0.65% of the company's stock.

Wall Street Analysts Forecast Growth

TSCO has been the subject of a number of recent research reports. Wall Street Zen downgraded Tractor Supply from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. Raymond James Financial decreased their price objective 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. Mizuho lowered their price target on shares of Tractor Supply from $62.00 to $58.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Stephens initiated 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 for the company. Finally, UBS Group set a $54.00 price target on Tractor Supply in a report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $58.02.

Tractor Supply Trading Up 0.4%

Shares of TSCO opened at $57.44 on Friday. Tractor Supply Company has a twelve month low of $46.85 and a twelve month high of $61.53. The company has a current ratio of 1.41, a quick ratio of 0.17 and a debt-to-equity ratio of 0.94. The company's fifty day simple moving average is $51.93 and its 200-day simple moving average is $53.08. The company has a market cap of $30.45 billion, a P/E ratio of 28.52, a P/E/G ratio of 3.08 and a beta of 0.75.

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 business 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 earned $1.83 EPS. The firm's quarterly revenue was up 2.1% on a year-over-year basis. As a group, analysts expect that Tractor Supply Company will post 2.17 EPS for the current year.

Tractor Supply Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date was Wednesday, May 28th. Tractor Supply's dividend payout ratio is currently 45.77%.

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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