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Kornitzer Capital Management Inc. KS Has $7.26 Million Stake in Tractor Supply Company (NASDAQ:TSCO)

Tractor Supply logo with Retail/Wholesale background

Kornitzer Capital Management Inc. KS lessened its stake in shares of Tractor Supply Company (NASDAQ:TSCO - Free Report) by 9.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 131,707 shares of the specialty retailer's stock after selling 14,068 shares during the period. Kornitzer Capital Management Inc. KS's holdings in Tractor Supply were worth $7,257,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Coppell Advisory Solutions LLC increased its position 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. Whittier Trust Co. grew its holdings in shares of Tractor Supply by 400.0% during the fourth 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. Dunhill Financial LLC lifted its stake in shares of Tractor Supply by 325.8% in the fourth quarter. Dunhill Financial LLC now owns 511 shares of the specialty retailer's stock worth $27,000 after buying an additional 391 shares in the last quarter. Pacific Center for Financial Services lifted its stake in shares of Tractor Supply by 400.0% in the fourth quarter. Pacific Center for Financial Services now owns 550 shares of the specialty retailer's stock worth $29,000 after buying an additional 440 shares in the last quarter. Finally, LRI Investments LLC grew its stake in Tractor Supply by 400.0% during the 4th quarter. LRI Investments LLC now owns 615 shares of the specialty retailer's stock valued at $33,000 after acquiring an additional 492 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company's stock.

Tractor Supply Price Performance

Tractor Supply stock traded up $0.76 during midday trading on Thursday, reaching $56.80. The company's stock had a trading volume of 2,214,145 shares, compared to its average volume of 5,158,351. Tractor Supply Company has a fifty-two week low of $46.85 and a fifty-two week high of $61.53. The firm has a market capitalization of $30.12 billion, a PE ratio of 28.23, a P/E/G ratio of 3.03 and a beta of 0.75. The stock's 50 day simple moving average is $52.39 and its 200 day simple moving average is $53.13. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.17 and a current ratio of 1.41.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its earnings results on Thursday, April 24th. The specialty retailer reported $0.34 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.03). The business had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.55 billion. Tractor Supply had a net margin of 7.24% and a return on equity of 47.56%. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.83 earnings per share. On average, equities research analysts forecast that Tractor Supply Company will post 2.17 earnings per share 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 $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 1.62%. Tractor Supply's dividend payout ratio (DPR) is presently 45.77%.

Insider Buying and Selling

In other Tractor Supply news, EVP Jonathan S. Estep sold 56,630 shares of Tractor Supply stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $53.00, for a total value of $3,001,390.00. Following the transaction, the executive vice president owned 74,605 shares of the company's stock, valued at approximately $3,954,065. The trade was a 43.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 owned 29,722 shares in the company, valued at approximately $1,538,410.72. This trade represents a 8.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 104,445 shares of company stock worth $5,669,742 over the last ninety days. 0.65% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Stephens started coverage on Tractor Supply in a report on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 price target on the stock. UBS Group set a $54.00 target price on shares of Tractor Supply in a report on Friday, April 25th. Robert W. Baird cut 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. Wells Fargo & Company increased their price objective on Tractor Supply from $60.00 to $63.00 and gave the stock an "overweight" rating in a research report on Tuesday. Finally, Telsey Advisory Group set a $60.00 target price on Tractor Supply in a research note on Friday, April 25th. Two 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.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $57.95.

View Our Latest Research Report on Tractor Supply

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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Institutional Ownership by Quarter for Tractor Supply (NASDAQ:TSCO)

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