TBH Global Asset Management LLC Invests $448,000 in Tractor Supply Company (NASDAQ:TSCO)

TBH Global Asset Management LLC acquired a new stake in Tractor Supply Company (NASDAQ:TSCO - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 8,125 shares of the specialty retailer's stock, valued at approximately $448,000.

Several other institutional investors have also recently added to or reduced their stakes in TSCO. Allspring Global Investments Holdings LLC increased its stake 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 valued at $3,911,000 after purchasing an additional 5,184 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Tractor Supply by 10.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 66,530 shares of the specialty retailer's stock valued at $3,557,000 after purchasing an additional 6,132 shares during the last quarter. Transcend Capital Advisors LLC increased its stake in Tractor Supply by 4.4% in the first quarter. Transcend Capital Advisors LLC now owns 25,280 shares of the specialty retailer's stock valued at $1,393,000 after purchasing an additional 1,075 shares during the last quarter. Holistic Planning LLC acquired a new position in Tractor Supply in the first quarter valued at $207,000. Finally, KPP Advisory Services LLC increased its stake in Tractor Supply by 12.7% in the first quarter. KPP Advisory Services LLC now owns 10,732 shares of the specialty retailer's stock valued at $591,000 after purchasing an additional 1,206 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tractor Supply

In other Tractor Supply news, EVP Jonathan S. Estep sold 56,630 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $53.00, for a total transaction 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Matthew L. Rubin sold 2,810 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $51.76, for a total value of $145,445.60. Following the sale, the senior vice president now owns 29,722 shares in the company, valued at $1,538,410.72. The trade was a 8.64% decrease in their position. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Robert W. Baird dropped their target price on Tractor Supply from $63.00 to $56.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. UBS Group set a $54.00 price target on Tractor Supply in a research note on Friday, April 25th. Wall Street Zen lowered Tractor Supply from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. 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 note on Friday, April 25th. Finally, JPMorgan Chase & Co. dropped their price target on 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 research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $58.02.

Tractor Supply Stock Down 0.3%

TSCO traded down $0.13 on Friday, reaching $51.71. The company's stock had a trading volume of 9,807,156 shares, compared to its average volume of 5,135,989. The stock has a market cap of $27.42 billion, a price-to-earnings ratio of 25.68, a price-to-earnings-growth ratio of 2.78 and a beta of 0.74. Tractor Supply Company has a 1 year low of $46.85 and a 1 year high of $61.53. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.41 and a quick ratio of 0.17. The business's 50 day moving average is $50.92 and its 200 day moving average is $53.02.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $3.47 billion during the quarter, compared to analysts' expectations of $3.55 billion. Tractor Supply had a net margin of 7.24% and a return on equity of 47.56%. The company's revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.83 EPS. As a group, research analysts forecast that Tractor Supply Company will post 2.17 EPS for the current fiscal year.

Tractor Supply Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date was Wednesday, May 28th. Tractor Supply's dividend payout ratio is currently 45.77%.

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.