Tractor Supply (NASDAQ:TSCO) Shares Sold by Bright Rock Capital Management LLC

Bright Rock Capital Management LLC lowered its stake in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 17.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 80,000 shares of the specialty retailer's stock after selling 17,500 shares during the quarter. Bright Rock Capital Management LLC's holdings in Tractor Supply were worth $4,408,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. FORA Capital LLC increased its stake in Tractor Supply by 434.1% in the fourth quarter. FORA Capital LLC now owns 35,526 shares of the specialty retailer's stock valued at $1,885,000 after purchasing an additional 28,875 shares during the period. CIBC Private Wealth Group LLC increased its position 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 acquiring an additional 865,273 shares during the period. BOK Financial Private Wealth Inc. raised its stake in Tractor Supply by 330.2% during the 4th quarter. BOK Financial Private Wealth Inc. now owns 21,355 shares of the specialty retailer's stock valued at $1,133,000 after acquiring an additional 16,391 shares during the last quarter. Gen Wealth Partners Inc lifted its position in Tractor Supply by 513.8% during the 4th quarter. Gen Wealth Partners Inc now owns 14,320 shares of the specialty retailer's stock worth $760,000 after acquiring an additional 11,987 shares during the period. Finally, Blueshift Asset Management LLC lifted its holdings in shares of Tractor Supply by 571.8% during the fourth quarter. Blueshift Asset Management LLC now owns 66,815 shares of the specialty retailer's stock worth $3,545,000 after purchasing an additional 56,870 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, SVP Matthew L. Rubin sold 2,810 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $51.76, for a total transaction of $145,445.60. Following the transaction, the senior vice president now owns 29,722 shares in the company, valued at $1,538,410.72. The trade was a 8.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.65% of the stock is owned by corporate insiders.

Tractor Supply Trading Down 0.4%

Shares of NASDAQ TSCO traded down $0.20 during midday trading on Friday, hitting $51.54. The stock had a trading volume of 3,687,821 shares, compared to its average volume of 5,201,626. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. Tractor Supply has a 1-year low of $46.85 and a 1-year high of $61.53. The company has a market capitalization of $27.33 billion, a price-to-earnings ratio of 25.26, a PEG ratio of 2.95 and a beta of 0.74. The company has a fifty day moving average price of $50.53 and a 200 day moving average price of $53.39.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.37 by ($0.03). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. The business had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.55 billion. During the same period last year, the firm earned $1.83 earnings per share. The company's quarterly revenue was up 2.1% on a year-over-year basis. On average, analysts predict that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply declared that its Board of Directors has approved a stock repurchase program on Thursday, February 13th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the specialty retailer to buy up to 3.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its shares are undervalued.

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 given a dividend of $0.23 per share. The ex-dividend date was Wednesday, May 28th. This represents a $0.92 dividend on an annualized basis and a yield of 1.79%. Tractor Supply's dividend payout ratio (DPR) is 45.77%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on TSCO shares. Stephens assumed coverage on shares of Tractor Supply in a research report on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 target price on the stock. Mizuho dropped their price target on Tractor Supply from $62.00 to $58.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Robert W. Baird lowered their price target on shares of Tractor Supply from $63.00 to $56.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Wall Street Zen downgraded Tractor Supply from a "hold" rating to a "sell" rating in a report on Friday, June 6th. Finally, Citigroup decreased their price objective on Tractor Supply from $59.00 to $51.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently 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.