Covea Finance Lowers Position in Tractor Supply Company (NASDAQ:TSCO)

Covea Finance cut its position in Tractor Supply Company (NASDAQ:TSCO - Free Report) by 66.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,000 shares of the specialty retailer's stock after selling 247,450 shares during the quarter. Covea Finance's holdings in Tractor Supply were worth $6,998,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Coppell Advisory Solutions LLC grew its holdings in shares of Tractor Supply by 944.4% during 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. Smithfield Trust Co lifted its position in Tractor Supply by 286.2% during 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. First Command Advisory Services Inc. grew its stake in Tractor Supply by 400.0% in the 4th quarter. First Command Advisory Services Inc. now owns 500 shares of the specialty retailer's stock worth $27,000 after buying an additional 400 shares in the last quarter. Whittier Trust Co. grew its stake in Tractor Supply by 400.0% in 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 increased its holdings in shares of Tractor Supply by 325.8% in 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 last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tractor Supply

In related news, SVP Matthew L. Rubin sold 2,810 shares of Tractor Supply stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $51.76, for a total value of $145,445.60. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.65% of the stock is owned by company insiders.

Tractor Supply Trading Up 0.9%

Shares of NASDAQ TSCO traded up $0.49 during mid-day trading on Friday, hitting $52.52. The stock had a trading volume of 5,732,377 shares, compared to its average volume of 5,171,463. The business has a 50 day moving average price of $50.71 and a two-hundred day moving average price of $53.13. Tractor Supply Company has a 1 year low of $46.85 and a 1 year high of $61.53. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.17 and a current ratio of 1.41. The firm has a market cap of $27.85 billion, a P/E ratio of 26.08, a price-to-earnings-growth ratio of 2.83 and a beta of 0.74.

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 (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $3.55 billion. During the same period last year, the business earned $1.83 EPS. Tractor Supply's revenue was up 2.1% on a year-over-year basis. On average, equities analysts anticipate that Tractor Supply Company will post 2.17 EPS for the current fiscal year.

Tractor Supply Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were paid a $0.23 dividend. The ex-dividend date was Wednesday, May 28th. This represents a $0.92 annualized dividend and a dividend yield of 1.75%. Tractor Supply's payout ratio is presently 45.77%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Citigroup dropped their price objective on shares of Tractor Supply from $59.00 to $51.00 and set a "neutral" rating for the company 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 on the stock in a research report on Friday, April 25th. Telsey Advisory Group set a $60.00 price objective on Tractor Supply in a report on Friday, April 25th. JPMorgan Chase & Co. reduced their price objective on Tractor Supply from $59.00 to $56.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Finally, Wall Street Zen downgraded Tractor Supply from a "hold" rating to a "sell" rating in a research report on Friday, June 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $58.02.

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.