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SteelPeak Wealth LLC Has $1.37 Million Stock Holdings in Tractor Supply Company (NASDAQ:TSCO)

Tractor Supply logo with Retail/Wholesale background

SteelPeak Wealth LLC lifted its holdings in shares of Tractor Supply Company (NASDAQ:TSCO - Free Report) by 115.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,787 shares of the specialty retailer's stock after purchasing an additional 13,287 shares during the period. SteelPeak Wealth LLC's holdings in Tractor Supply were worth $1,366,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FORA Capital LLC boosted its holdings in Tractor Supply by 434.1% in the fourth quarter. FORA Capital LLC now owns 35,526 shares of the specialty retailer's stock worth $1,885,000 after acquiring an additional 28,875 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Tractor Supply by 7.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 70,944 shares of the specialty retailer's stock worth $3,911,000 after acquiring an additional 5,184 shares in the last quarter. Sowell Financial Services LLC boosted its holdings in Tractor Supply by 49.3% in the first quarter. Sowell Financial Services LLC now owns 20,029 shares of the specialty retailer's stock worth $1,104,000 after acquiring an additional 6,612 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Tractor Supply by 9.2% in the first quarter. Sequoia Financial Advisors LLC now owns 112,233 shares of the specialty retailer's stock worth $6,184,000 after acquiring an additional 9,483 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its holdings in Tractor Supply by 385.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,089,542 shares of the specialty retailer's stock worth $59,260,000 after acquiring an additional 865,273 shares in the last quarter. Institutional investors own 98.72% of the company's stock.

Insider Activity

In other news, SVP Matthew L. Rubin sold 2,810 shares of Tractor Supply stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $51.76, for a total transaction of $145,445.60. Following the completion of the transaction, the senior vice president directly owned 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 document filed with the Securities & Exchange Commission, 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 shares were sold at an average price of $53.00, for a total transaction of $3,001,390.00. Following the transaction, the executive vice president owned 74,605 shares of the company's stock, valued at $3,954,065. The trade was a 43.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 102,445 shares of company stock worth $5,554,242. Insiders own 0.65% of the company's stock.

Analysts Set New Price Targets

TSCO has been the topic of several recent analyst reports. Citigroup dropped their target price on shares of Tractor Supply from $59.00 to $51.00 and set a "neutral" rating on the stock in a research report on Friday, April 25th. Stephens initiated coverage on shares of Tractor Supply in a research report on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 target price on the stock. Telsey Advisory Group set a $60.00 target price on shares of Tractor Supply in a research report on Friday, April 25th. Robert W. Baird dropped their target price on shares of Tractor Supply from $63.00 to $56.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Finally, Wall Street Zen lowered shares of Tractor Supply from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Tractor Supply has an average rating of "Moderate Buy" and an average price target of $58.02.

Read Our Latest Stock Analysis on Tractor Supply

Tractor Supply Stock Performance

Tractor Supply stock opened at $56.79 on Friday. The company has a market capitalization of $30.11 billion, a PE ratio of 28.20, a P/E/G ratio of 3.09 and a beta of 0.75. The firm has a fifty day simple moving average of $52.05 and a two-hundred day simple moving average of $53.09. The company has a quick ratio of 0.17, a current ratio of 1.41 and a debt-to-equity ratio of 0.94. Tractor Supply Company has a twelve month low of $46.85 and a twelve month high of $61.53.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $3.47 billion for 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 business's 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 earnings per share. Research analysts expect that Tractor Supply Company will post 2.17 EPS for the current year.

Tractor Supply Cuts Dividend

The firm also recently announced 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 1.62%. Tractor Supply's payout ratio is 45.77%.

About Tractor Supply

(Free Report)

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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Institutional Ownership by Quarter for Tractor Supply (NASDAQ:TSCO)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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