Provident Trust Co. Sells 20,607 Shares of Tractor Supply Company (NASDAQ:TSCO)

Provident Trust Co. cut its position in shares of Tractor Supply Company (NASDAQ:TSCO - Free Report) by 0.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,360,298 shares of the specialty retailer's stock after selling 20,607 shares during the quarter. Tractor Supply accounts for about 3.5% of Provident Trust Co.'s investment portfolio, making the stock its 14th largest holding. Provident Trust Co. owned about 0.63% of Tractor Supply worth $185,152,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Coppell Advisory Solutions LLC lifted its stake in Tractor Supply by 944.4% in the fourth quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer's stock valued at $25,000 after buying an additional 425 shares during the last quarter. Whittier Trust Co. increased 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 valued at $27,000 after purchasing an additional 400 shares during the period. Dunhill Financial LLC raised its stake 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 valued at $27,000 after purchasing an additional 391 shares in the last quarter. Pacific Center for Financial Services raised its stake 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 valued at $29,000 after purchasing an additional 440 shares in the last quarter. Finally, LRI Investments LLC raised its stake 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 valued at $33,000 after purchasing an additional 492 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors.

Tractor Supply Trading Down 0.5%

TSCO traded down $0.30 during trading on Wednesday, reaching $56.04. The company had a trading volume of 6,088,794 shares, compared to its average volume of 5,169,041. The firm's 50-day simple moving average is $52.39 and its 200 day simple moving average is $53.13. The company has a market cap of $29.71 billion, a price-to-earnings ratio of 27.83, a PEG ratio of 3.03 and a beta of 0.75. Tractor Supply Company has a 12-month low of $46.85 and a 12-month 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 released its earnings results on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). Tractor Supply had a net margin of 7.24% and a return on equity of 47.56%. The business had revenue of $3.47 billion for the quarter, compared to analysts' expectations of $3.55 billion. During the same period last year, the firm earned $1.83 EPS. The company's revenue was up 2.1% compared to the same quarter last year. 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 declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th were issued a dividend of $0.23 per share. The ex-dividend date was Wednesday, May 28th. This represents a $0.92 annualized dividend and a dividend yield of 1.64%. Tractor Supply's dividend payout ratio is 45.77%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Tractor Supply from $60.00 to $63.00 and gave the company an "overweight" rating in a research note on Tuesday. UBS Group set a $54.00 price objective on shares of Tractor Supply in a research note on Friday, April 25th. Wall Street Zen cut shares of Tractor Supply from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. JPMorgan Chase & Co. cut their price objective on shares of Tractor Supply from $59.00 to $56.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. Finally, Telsey Advisory Group set a $60.00 price objective on shares of Tractor Supply in a research note on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Tractor Supply presently has an average rating of "Moderate Buy" and an average target price of $57.95.

Insider Activity

In other Tractor Supply news, Director Denise L. Jackson sold 2,000 shares of Tractor Supply 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 transaction, the director directly owned 32,288 shares of the company's stock, valued at $1,864,632. The trade was a 5.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jonathan S. Estep sold 35,825 shares of Tractor Supply stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $56.00, for a total value of $2,006,200.00. Following the completion of the transaction, the executive vice president directly owned 74,605 shares in the company, valued at approximately $4,177,880. This represents a 32.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 104,445 shares of company stock worth $5,669,742 in the last three months. 0.65% of the stock is owned by insiders.

About Tractor Supply

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.