New York State Common Retirement Fund Sells 84,922 Shares of Tractor Supply Company (NASDAQ:TSCO)

New York State Common Retirement Fund trimmed its stake in Tractor Supply Company (NASDAQ:TSCO - Free Report) by 21.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 307,193 shares of the specialty retailer's stock after selling 84,922 shares during the quarter. New York State Common Retirement Fund owned approximately 0.06% of Tractor Supply worth $16,926,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Wedmont Private Capital lifted its stake in Tractor Supply by 2.5% in the first quarter. Wedmont Private Capital now owns 8,714 shares of the specialty retailer's stock valued at $450,000 after buying an additional 212 shares during the last quarter. Creative Financial Designs Inc. ADV raised its stake in shares of Tractor Supply by 30.1% during the first quarter. Creative Financial Designs Inc. ADV now owns 920 shares of the specialty retailer's stock valued at $51,000 after purchasing an additional 213 shares in the last quarter. Procyon Advisors LLC raised its stake in shares of Tractor Supply by 1.7% during the first quarter. Procyon Advisors LLC now owns 14,371 shares of the specialty retailer's stock valued at $792,000 after purchasing an additional 238 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Tractor Supply by 5.5% during the first quarter. International Assets Investment Management LLC now owns 4,678 shares of the specialty retailer's stock valued at $258,000 after purchasing an additional 242 shares in the last quarter. Finally, Ballentine Partners LLC raised its stake in shares of Tractor Supply by 1.1% during the first quarter. Ballentine Partners LLC now owns 22,767 shares of the specialty retailer's stock valued at $1,254,000 after purchasing an additional 247 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, SVP Matthew L. Rubin sold 2,810 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was 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 directly owned 29,722 shares in the company, valued at approximately $1,538,410.72. The trade was a 8.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Denise L. Jackson sold 2,000 shares of the business's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $57.75, for a total value of $115,500.00. Following the completion of the sale, the director owned 32,288 shares of the company's stock, valued at approximately $1,864,632. This trade represents a 5.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,445 shares of company stock worth $5,669,742. 0.65% of the stock is currently owned by insiders.

Tractor Supply Stock Up 1.4%

Shares of NASDAQ TSCO traded up $0.79 during trading hours on Thursday, hitting $56.83. The stock had a trading volume of 3,863,939 shares, compared to its average volume of 5,165,174. The company has a market capitalization of $30.13 billion, a P/E ratio of 28.22, a P/E/G ratio of 3.02 and a beta of 0.75. The firm's 50-day moving average price is $52.39 and its two-hundred day moving average price is $53.13. Tractor Supply Company has a 52 week low of $46.85 and a 52 week 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.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its quarterly 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 firm had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.55 billion. Tractor Supply had a net margin of 7.24% and a return on equity of 47.56%. The company's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.83 EPS. Analysts anticipate that Tractor Supply Company will post 2.17 EPS for the current fiscal year.

Tractor Supply Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors 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 annualized dividend and a yield of 1.62%. Tractor Supply's dividend payout ratio (DPR) is currently 45.77%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Wells Fargo & Company lifted their target price on Tractor Supply from $60.00 to $63.00 and gave the stock an "overweight" rating in a report on Tuesday. Wall Street Zen lowered Tractor Supply from a "hold" rating to a "sell" rating in a report on Friday, June 6th. Robert W. Baird lowered their target price on Tractor Supply from $63.00 to $56.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. JPMorgan Chase & Co. lowered their target price on Tractor Supply from $59.00 to $56.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Finally, Mizuho lowered their target price on Tractor Supply from $62.00 to $58.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Tractor Supply presently has a consensus rating of "Moderate Buy" and an average price target of $57.95.

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.