Bessemer Group Inc. Cuts Stake in Tractor Supply Company (NASDAQ:TSCO)

Bessemer Group Inc. lowered its position in shares of Tractor Supply Company (NASDAQ:TSCO - Free Report) by 47.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,490 shares of the specialty retailer's stock after selling 49,262 shares during the period. Bessemer Group Inc.'s holdings in Tractor Supply were worth $2,947,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Smithfield Trust Co grew its stake in Tractor Supply by 286.2% in the fourth 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 last quarter. Coppell Advisory Solutions LLC lifted its position in Tractor Supply by 944.4% during the fourth quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer's stock valued at $25,000 after acquiring an additional 425 shares during the last quarter. First Command Advisory Services Inc. lifted its position in Tractor Supply by 400.0% during the fourth quarter. First Command Advisory Services Inc. now owns 500 shares of the specialty retailer's stock valued at $27,000 after acquiring an additional 400 shares during the last quarter. Whittier Trust Co. lifted its position in Tractor Supply by 400.0% during the fourth quarter. Whittier Trust Co. now owns 500 shares of the specialty retailer's stock valued at $27,000 after acquiring an additional 400 shares during the last quarter. Finally, Dunhill Financial LLC lifted its position in Tractor Supply by 325.8% during the fourth quarter. Dunhill Financial LLC now owns 511 shares of the specialty retailer's stock valued at $27,000 after acquiring an additional 391 shares during the last quarter. Hedge funds and other institutional investors own 98.72% of the company's stock.

Insider Buying and Selling

In other news, SVP Matthew L. Rubin sold 2,810 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $51.76, for a total transaction of $145,445.60. Following the sale, the senior vice president now directly owns 29,722 shares in the company, valued at approximately $1,538,410.72. This represents a 8.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jonathan S. Estep sold 56,630 shares of the stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $53.00, for a total value of $3,001,390.00. Following the completion of the transaction, the executive vice president now directly owns 74,605 shares of the company's stock, valued at $3,954,065. This trade represents a 43.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.65% of the company's stock.

Wall Street Analysts Forecast Growth

TSCO has been the subject of several recent analyst reports. Guggenheim lowered their price target on Tractor Supply from $60.00 to $55.00 and set a "buy" rating for the company in a report on Friday, April 25th. Raymond James Financial lowered their price target on Tractor Supply from $61.00 to $57.00 and set an "outperform" rating for the company in a report on Friday, April 25th. UBS Group set a $54.00 price target on Tractor Supply in a report on Friday, April 25th. Mizuho lowered their price target on Tractor Supply from $62.00 to $58.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Finally, Stephens initiated coverage on Tractor Supply in a report on Wednesday, April 9th. They issued an "equal weight" rating and a $56.00 price target for the company. Two 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's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $58.02.

Tractor Supply Price Performance

TSCO stock opened at $51.71 on Friday. The stock has a 50-day moving average price of $50.92 and a two-hundred day moving average price of $53.04. Tractor Supply Company has a 12-month low of $46.85 and a 12-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 has a market cap of $27.42 billion, a PE ratio of 25.68, a price-to-earnings-growth ratio of 2.79 and a beta of 0.74.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.03). Tractor Supply had a net margin of 7.24% and a return on equity of 47.56%. The firm had revenue of $3.47 billion for the quarter, compared to analysts' expectations of $3.55 billion. During the same period last year, the firm posted $1.83 EPS. Tractor Supply's revenue was up 2.1% on a year-over-year basis. As a group, research analysts predict that Tractor Supply Company will post 2.17 EPS for the current year.

Tractor Supply Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend was Wednesday, May 28th. Tractor Supply's dividend payout ratio (DPR) is 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.

Want to see what other hedge funds are holding TSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tractor Supply Company (NASDAQ:TSCO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.