Norden Group LLC Has $757,000 Stock Holdings in Tractor Supply Company (NASDAQ:TSCO)

Key Points

• Norden Group LLC sold 10,281 shares of Tractor Supply Company, reducing its stake by 42.8% to 13,746 shares, valued at approximately $757,000.
• Tractor Supply reported $4.44 billion in revenue for the last quarter, beating estimates, and posted a net margin of 7.18% with a return on equity of 46.83%.
• The company’s stock has received multiple rating upgrades, with an average target price of $61.80 and a consensus rating of "Moderate Buy" from analysts.

Norden Group LLC reduced its holdings in Tractor Supply Company (NASDAQ:TSCO - Free Report) by 42.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 13,746 shares of the specialty retailer's stock after selling 10,281 shares during the quarter. Norden Group LLC's holdings in Tractor Supply were worth $757,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Coppell Advisory Solutions LLC grew its stake in shares of Tractor Supply by 944.4% in the 4th quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer's stock worth $25,000 after purchasing an additional 425 shares during the last quarter. GW&K Investment Management LLC boosted its holdings in shares of Tractor Supply by 89.3% during the first quarter. GW&K Investment Management LLC now owns 479 shares of the specialty retailer's stock worth $26,000 after purchasing an additional 226 shares during the period. Dunhill Financial LLC boosted its holdings in shares of Tractor Supply by 325.8% during the fourth quarter. Dunhill Financial LLC now owns 511 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 391 shares during the period. Pacific Center for Financial Services boosted its holdings in shares of Tractor Supply by 400.0% during the fourth quarter. Pacific Center for Financial Services now owns 550 shares of the specialty retailer's stock worth $29,000 after purchasing an additional 440 shares during the period. Finally, LRI Investments LLC boosted its holdings in shares of Tractor Supply by 400.0% during the fourth quarter. LRI Investments LLC now owns 615 shares of the specialty retailer's stock worth $33,000 after purchasing an additional 492 shares during the period. 98.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on TSCO shares. Citigroup decreased their price target 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. Telsey Advisory Group set a $70.00 price objective on shares of Tractor Supply in a research note on Friday, July 25th. Wall Street Zen raised shares of Tractor Supply from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Mizuho reduced their price objective on shares of Tractor Supply from $62.00 to $58.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Finally, UBS Group lifted their price target on shares of Tractor Supply from $54.00 to $61.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Tractor Supply presently has a consensus rating of "Moderate Buy" and a consensus target price of $61.80.

Insider Buying and Selling at Tractor Supply

In related news, EVP Jonathan S. Estep sold 35,825 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $56.00, for a total transaction of $2,006,200.00. Following the completion of the sale, the executive vice president directly owned 74,605 shares of the company's stock, valued at approximately $4,177,880. This represents a 32.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Noni L. Ellison sold 5,200 shares of the firm's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $63.96, for a total transaction of $332,592.00. Following the transaction, the senior vice president directly owned 28,639 shares of the company's stock, valued at $1,831,750.44. This represents a 15.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 207,490 shares of company stock worth $12,216,998 in the last quarter. Company insiders own 0.65% of the company's stock.

Tractor Supply Trading Up 0.2%

Shares of TSCO stock traded up $0.14 on Friday, reaching $57.09. The company had a trading volume of 2,812,457 shares, compared to its average volume of 5,681,575. The company has a current ratio of 1.28, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The stock has a market cap of $30.27 billion, a PE ratio of 27.96, a PEG ratio of 2.97 and a beta of 0.75. The company has a 50-day moving average of $53.82 and a 200-day moving average of $53.49. Tractor Supply Company has a 12 month low of $46.85 and a 12 month high of $63.99.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The specialty retailer reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.01. Tractor Supply had a return on equity of 46.83% and a net margin of 7.18%. The company had revenue of $4.44 billion during the quarter, compared to analysts' expectations of $4.40 billion. During the same period in the prior year, the business posted $3.93 EPS. Tractor Supply's revenue was up 4.5% on a year-over-year basis. On average, equities analysts forecast that Tractor Supply Company will post 2.17 earnings per share for the current 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 dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Wednesday, May 28th. Tractor Supply's dividend payout ratio is presently 45.10%.

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.