Oppenheimer & Co. Inc. Reduces Stock Position in Tractor Supply Company (NASDAQ:TSCO)

Oppenheimer & Co. Inc. lowered its holdings 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 SEC. The firm owned 85,430 shares of the specialty retailer's stock after selling 6,149 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Tractor Supply were worth $4,707,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Oppenheimer Asset Management Inc. lifted its holdings in Tractor Supply by 13.5% in the first quarter. Oppenheimer Asset Management Inc. now owns 19,907 shares of the specialty retailer's stock valued at $1,097,000 after acquiring an additional 2,361 shares during the period. Palumbo Wealth Management LLC lifted its holdings in Tractor Supply by 30.6% in the first quarter. Palumbo Wealth Management LLC now owns 53,539 shares of the specialty retailer's stock valued at $2,950,000 after acquiring an additional 12,550 shares during the period. TrueMark Investments LLC acquired a new stake in Tractor Supply in the first quarter valued at $257,000. Atticus Wealth Management LLC increased its position in shares of Tractor Supply by 21.4% in the first quarter. Atticus Wealth Management LLC now owns 4,863 shares of the specialty retailer's stock valued at $268,000 after buying an additional 858 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Tractor Supply in the first quarter valued at $855,000. Institutional investors and hedge funds own 98.72% of the company's stock.

Tractor Supply Trading Down 0.3%

Shares of Tractor Supply stock traded down $0.13 during trading hours on Friday, reaching $51.71. The stock had a trading volume of 9,807,156 shares, compared to its average volume of 5,135,989. The firm has a 50 day simple moving average of $50.92 and a two-hundred day simple moving average of $53.02. The firm has a market capitalization of $27.42 billion, a price-to-earnings ratio of 25.68, a P/E/G ratio of 2.78 and a beta of 0.74. 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 Company has a 1 year low of $46.85 and a 1 year high of $61.53.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.03). The firm had revenue of $3.47 billion during the quarter, compared to analysts' expectations of $3.55 billion. Tractor Supply had a return on equity of 47.56% and a net margin of 7.24%. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.83 earnings per share. As a group, equities research analysts anticipate that Tractor Supply Company will post 2.17 earnings per share for the current 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 1.78%. Tractor Supply's dividend payout ratio (DPR) is 45.77%.

Insider Activity at Tractor Supply

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 transaction of $145,445.60. Following the transaction, the senior vice president now directly owns 29,722 shares of the company's stock, valued at approximately $1,538,410.72. The trade was a 8.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Jonathan S. Estep sold 56,630 shares of Tractor Supply stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $53.00, for a total value of $3,001,390.00. Following the sale, the executive vice president now owns 74,605 shares in the company, valued at $3,954,065. This represents a 43.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.65% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TSCO. UBS Group set a $54.00 price target on Tractor Supply in a research report on Friday, April 25th. Wall Street Zen cut Tractor Supply from a "hold" rating to a "sell" rating in a research report on Friday, June 6th. Raymond James Financial dropped their price target on Tractor Supply from $61.00 to $57.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Stephens initiated coverage on Tractor Supply in a research note on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 price objective on the stock. Finally, Guggenheim decreased their price objective on Tractor Supply from $60.00 to $55.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Tractor Supply currently has an average rating of "Moderate Buy" and a consensus price target of $58.02.

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.