Dearborn Partners LLC Sells 140,130 Shares of Tractor Supply Company (NASDAQ:TSCO)

Key Points

• Dearborn Partners LLC reduced its stake in Tractor Supply Company by 17.7%, now holding 649,542 shares valued at approximately $35.79 million.
• Despite a decrease in some institutional holdings, several investors such as Coppell Advisory Solutions LLC increased their stakes significantly, with a 944.4% increase reported in the fourth quarter.
• Tractor Supply reported $0.81 earnings per share for the last quarter, surpassing analysts' expectations, with revenue growing 4.5% year-over-year to $4.44 billion.

Dearborn Partners LLC reduced its stake in Tractor Supply Company (NASDAQ:TSCO - Free Report) by 17.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 649,542 shares of the specialty retailer's stock after selling 140,130 shares during the quarter. Tractor Supply comprises approximately 1.7% of Dearborn Partners LLC's portfolio, making the stock its 16th biggest holding. Dearborn Partners LLC owned approximately 0.12% of Tractor Supply worth $35,790,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Coppell Advisory Solutions LLC increased its stake in shares of Tractor Supply by 944.4% in the fourth quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer's stock worth $25,000 after buying an additional 425 shares during the period. GW&K Investment Management LLC grew its holdings in Tractor Supply by 89.3% in the 1st quarter. GW&K Investment Management LLC now owns 479 shares of the specialty retailer's stock worth $26,000 after acquiring an additional 226 shares during the last quarter. Dunhill Financial LLC increased its position in shares of Tractor Supply by 325.8% in the fourth quarter. Dunhill Financial LLC now owns 511 shares of the specialty retailer's stock valued at $27,000 after acquiring an additional 391 shares during the period. Pacific Center for Financial Services increased its position in shares of Tractor Supply by 400.0% in the fourth quarter. Pacific Center for Financial Services now owns 550 shares of the specialty retailer's stock valued at $29,000 after acquiring an additional 440 shares during the period. 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 acquiring an additional 492 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors.

Tractor Supply Price Performance

TSCO traded down $0.36 on Friday, hitting $56.59. 837,307 shares of the company's stock traded hands, compared to its average volume of 5,665,376. The company's 50 day simple moving average is $53.82 and its 200-day simple moving average is $53.49. The company has a current ratio of 1.28, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. Tractor Supply Company has a one year low of $46.85 and a one year high of $63.99. The firm has a market cap of $30.00 billion, a price-to-earnings ratio of 27.74, a P/E/G ratio of 2.97 and a beta of 0.75.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The specialty retailer reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.01. The firm had revenue of $4.44 billion for the quarter, compared to analysts' expectations of $4.40 billion. Tractor Supply had a net margin of 7.18% and a return on equity of 46.83%. The company's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter last year, the business posted $3.93 earnings per share. As a group, research analysts anticipate that Tractor Supply Company will post 2.17 EPS for the current year.

Tractor Supply Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.6%. The ex-dividend date was Wednesday, May 28th. Tractor Supply's dividend payout ratio (DPR) is currently 45.10%.

Insider Buying and Selling at Tractor Supply

In related news, SVP Noni L. Ellison sold 5,200 shares of the company's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $63.96, for a total transaction of $332,592.00. Following the sale, the senior vice president owned 28,639 shares of the company's stock, valued at $1,831,750.44. This represents a 15.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Colin Yankee sold 6,680 shares of Tractor Supply stock in a transaction on Monday, July 28th. The stock was sold at an average price of $58.40, for a total transaction of $390,112.00. Following the completion of the transaction, the executive vice president directly owned 40,142 shares of the company's stock, valued at $2,344,292.80. The trade was a 14.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 207,490 shares of company stock worth $12,216,998 over the last three months. 0.65% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

TSCO has been the topic of a number of research analyst reports. Mizuho reduced their price target on Tractor Supply from $62.00 to $58.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Bank of America upgraded Tractor Supply from an "underperform" rating to a "buy" rating and set a $70.00 price objective on the stock in a research report on Thursday, July 24th. Wall Street Zen upgraded Tractor Supply from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Stephens started coverage on shares of Tractor Supply in a report on Wednesday, April 9th. They issued an "equal weight" rating and a $56.00 price target on the stock. Finally, Guggenheim reduced their price objective 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. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Tractor Supply presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.80.

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.