Envestnet Portfolio Solutions Inc. lowered its stake in Tractor Supply Company (NASDAQ:TSCO - Free Report) by 20.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,699 shares of the specialty retailer's stock after selling 5,666 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Tractor Supply were worth $1,251,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Tractor Supply by 392.5% in the fourth quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer's stock worth $3,397,643,000 after buying an additional 51,031,178 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Tractor Supply by 401.8% during the fourth quarter. Wellington Management Group LLP now owns 23,789,249 shares of the specialty retailer's stock worth $1,262,258,000 after purchasing an additional 19,048,385 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Tractor Supply by 403.3% during the fourth quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer's stock worth $1,180,932,000 after purchasing an additional 17,834,643 shares during the last quarter. Capital World Investors raised its holdings in shares of Tractor Supply by 403.7% during the fourth quarter. Capital World Investors now owns 19,433,135 shares of the specialty retailer's stock worth $1,031,122,000 after purchasing an additional 15,575,311 shares during the last quarter. Finally, Capital International Investors raised its holdings in shares of Tractor Supply by 334.7% during the fourth quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer's stock worth $818,421,000 after purchasing an additional 11,880,010 shares during the last quarter. Hedge funds and other institutional investors own 98.72% of the company's stock.
Analyst Ratings Changes
Several brokerages recently issued reports on TSCO. JPMorgan Chase & Co. reduced their target price on shares of Tractor Supply from $59.00 to $56.00 and set a "neutral" rating for the company in a report on Monday, April 28th. Stephens began coverage on shares of Tractor Supply in a report on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 target price for the company. Mizuho reduced their target price on shares of Tractor Supply from $62.00 to $58.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Robert W. Baird reduced their target price 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. Finally, Guggenheim reduced their target price on shares of Tractor Supply from $60.00 to $55.00 and set a "buy" rating for the company 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 assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $58.02.
Check Out Our Latest Report on Tractor Supply
Insider Activity
In other news, SVP Matthew L. Rubin sold 2,810 shares of Tractor Supply 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 sale, the senior vice president now owns 29,722 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.65% of the company's stock.
Tractor Supply Stock Performance
TSCO opened at $53.51 on Wednesday. The firm has a market capitalization of $28.37 billion, a PE ratio of 26.57, a PEG ratio of 2.89 and a beta of 0.74. Tractor Supply Company has a twelve month low of $46.85 and a twelve month high of $61.53. The firm's 50-day moving average price is $50.79 and its 200 day moving average price is $53.12. The company has a current ratio of 1.41, a quick ratio of 0.17 and a debt-to-equity ratio of 0.94.
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 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 firm had revenue of $3.47 billion during the quarter, compared to analysts' expectations of $3.55 billion. During the same period last year, the company earned $1.83 EPS. The business's quarterly revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts expect that Tractor Supply Company will post 2.17 EPS for the current fiscal year.
Tractor Supply Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th were issued a $0.23 dividend. The ex-dividend date was Wednesday, May 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.72%. Tractor Supply's payout ratio is 45.77%.
Tractor Supply Profile
(
Free Report)
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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