Tractor Supply Company (NASDAQ:TSCO) Shares Sold by Alecta Tjanstepension Omsesidigt

Alecta Tjanstepension Omsesidigt reduced its position in shares of Tractor Supply Company (NASDAQ:TSCO - Free Report) by 9.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,407,000 shares of the specialty retailer's stock after selling 343,000 shares during the period. Alecta Tjanstepension Omsesidigt owned 0.64% of Tractor Supply worth $187,623,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Wedmont Private Capital lifted its position in Tractor Supply by 2.5% during the first quarter. Wedmont Private Capital now owns 8,714 shares of the specialty retailer's stock valued at $450,000 after purchasing an additional 212 shares during the last quarter. Creative Financial Designs Inc. ADV grew its position in shares of Tractor Supply by 30.1% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 920 shares of the specialty retailer's stock worth $51,000 after buying an additional 213 shares during the period. Independent Wealth Network Inc. lifted its stake in shares of Tractor Supply by 5.2% in the first quarter. Independent Wealth Network Inc. now owns 4,335 shares of the specialty retailer's stock worth $239,000 after buying an additional 215 shares in the last quarter. GW&K Investment Management LLC raised its holdings in shares of Tractor Supply by 89.3% during the first quarter. GW&K Investment Management LLC now owns 479 shares of the specialty retailer's stock valued at $26,000 after purchasing an additional 226 shares during the last quarter. Finally, Procyon Advisors LLC increased its position in Tractor Supply by 1.7% during the first quarter. Procyon Advisors LLC now owns 14,371 shares of the specialty retailer's stock valued at $792,000 after acquiring an additional 238 shares during the last quarter. Hedge funds and other institutional investors own 98.72% of the company's stock.

Insider Transactions at Tractor Supply

In related news, SVP Matthew L. Rubin sold 2,810 shares of Tractor Supply stock in a transaction 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 transaction, the senior vice president owned 29,722 shares in the company, valued at $1,538,410.72. This trade represents a 8.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jonathan S. Estep sold 35,825 shares of Tractor Supply stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $56.00, for a total transaction of $2,006,200.00. Following the sale, the executive vice president owned 74,605 shares in the company, valued at approximately $4,177,880. This trade represents a 32.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 104,445 shares of company stock valued at $5,669,742 over the last three months. 0.65% of the stock is owned by corporate insiders.

Tractor Supply Price Performance

Shares of NASDAQ TSCO traded up $0.77 during midday trading on Tuesday, hitting $58.18. The company had a trading volume of 1,014,973 shares, compared to its average volume of 5,142,907. The company has a quick ratio of 0.17, a current ratio of 1.41 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $30.85 billion, a price-to-earnings ratio of 28.84, a price-to-earnings-growth ratio of 3.05 and a beta of 0.75. The business has a 50-day simple moving average of $52.61 and a two-hundred day simple moving average of $53.19. 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 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). Tractor Supply had a return on equity of 47.56% and a net margin of 7.24%. The firm had revenue of $3.47 billion for the quarter, compared to analysts' expectations of $3.55 billion. During the same quarter last year, the firm earned $1.83 earnings per share. The business's quarterly 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 business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders 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 annualized dividend and a dividend yield of 1.58%. Tractor Supply's dividend payout ratio is currently 45.77%.

Analyst Ratings Changes

TSCO has been the subject of several recent research reports. Wall Street Zen lowered shares of Tractor Supply from a "hold" rating to a "sell" rating in a report on Friday, June 6th. Wells Fargo & Company boosted their target price on shares of Tractor Supply from $60.00 to $63.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Citigroup cut their price target on shares of Tractor Supply from $59.00 to $51.00 and set a "neutral" rating for the company in a report on Friday, April 25th. Mizuho dropped their price objective on shares of Tractor Supply from $62.00 to $58.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Finally, Guggenheim decreased their target price on shares of Tractor Supply from $60.00 to $55.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $58.65.

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.

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