Oppenheimer & Co. Inc. Sells 6,149 Shares of Tractor Supply Company (NASDAQ:TSCO)

Oppenheimer & Co. Inc. cut its position in Tractor Supply Company (NASDAQ:TSCO - Free Report) by 6.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 85,430 shares of the specialty retailer's stock after selling 6,149 shares during the period. Oppenheimer & Co. Inc.'s holdings in Tractor Supply were worth $4,707,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in Tractor Supply by 392.5% during the fourth quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer's stock valued at $3,397,643,000 after acquiring an additional 51,031,178 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Tractor Supply by 401.8% in the 4th quarter. Wellington Management Group LLP now owns 23,789,249 shares of the specialty retailer's stock worth $1,262,258,000 after buying an additional 19,048,385 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of Tractor Supply by 403.3% in the 4th quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer's stock worth $1,180,932,000 after buying an additional 17,834,643 shares in the last quarter. Capital World Investors grew its stake in shares of Tractor Supply by 403.7% in the 4th quarter. Capital World Investors now owns 19,433,135 shares of the specialty retailer's stock worth $1,031,122,000 after buying an additional 15,575,311 shares in the last quarter. Finally, Capital International Investors grew its stake in shares of Tractor Supply by 334.7% in the 4th quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer's stock worth $818,421,000 after buying an additional 11,880,010 shares in the last quarter. Hedge funds and other institutional investors own 98.72% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on TSCO. Mizuho dropped their price target on Tractor Supply from $62.00 to $58.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Guggenheim dropped their target price on Tractor Supply from $60.00 to $55.00 and set a "buy" rating for the company in a report on Friday, April 25th. Stephens began coverage on shares of Tractor Supply in a research note on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 price objective for the company. Wall Street Zen lowered shares of Tractor Supply from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Tractor Supply from $59.00 to $56.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $58.02.

Tractor Supply Stock Down 0.3%

Shares of NASDAQ TSCO opened at $53.51 on Wednesday. Tractor Supply Company has a 52-week low of $46.85 and a 52-week high of $61.53. The firm has a market capitalization of $28.37 billion, a price-to-earnings ratio of 26.57, a PEG ratio of 2.89 and a beta of 0.74. The stock has a 50 day moving average price of $50.79 and a 200 day moving average price of $53.12. 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 quarterly earnings data on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share 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 business 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 earnings per share. The firm's revenue was up 2.1% compared to the same quarter last year. Sell-side analysts expect that Tractor Supply Company will post 2.17 earnings per share for the current year.

Tractor Supply Cuts Dividend

The business also recently disclosed 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 dividend yield of 1.72%. The ex-dividend date of this dividend was Wednesday, May 28th. Tractor Supply's dividend payout ratio (DPR) is currently 45.77%.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 2,810 shares of the stock in a transaction dated 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 now directly owns 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.65% of the company's stock.

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.

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