Tractor Supply Company (NASDAQ:TSCO) Shares Sold by MinichMacGregor Wealth Management LLC

MinichMacGregor Wealth Management LLC cut its stake in shares of Tractor Supply Company (NASDAQ:TSCO - Free Report) by 38.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 98,338 shares of the specialty retailer's stock after selling 60,711 shares during the period. MinichMacGregor Wealth Management LLC's holdings in Tractor Supply were worth $5,418,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. FORA Capital LLC raised its stake in shares of Tractor Supply by 434.1% during the fourth quarter. FORA Capital LLC now owns 35,526 shares of the specialty retailer's stock worth $1,885,000 after purchasing an additional 28,875 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in Tractor Supply by 385.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,089,542 shares of the specialty retailer's stock valued at $59,260,000 after buying an additional 865,273 shares during the last quarter. BOK Financial Private Wealth Inc. increased its stake in Tractor Supply by 330.2% in the 4th quarter. BOK Financial Private Wealth Inc. now owns 21,355 shares of the specialty retailer's stock valued at $1,133,000 after buying an additional 16,391 shares during the period. Sowell Financial Services LLC raised its position in Tractor Supply by 49.3% during the 1st quarter. Sowell Financial Services LLC now owns 20,029 shares of the specialty retailer's stock worth $1,104,000 after buying an additional 6,612 shares during the last quarter. Finally, Gen Wealth Partners Inc raised its position in Tractor Supply by 513.8% during the 4th quarter. Gen Wealth Partners Inc now owns 14,320 shares of the specialty retailer's stock worth $760,000 after buying an additional 11,987 shares during the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

Tractor Supply Price Performance

Tractor Supply stock opened at $52.52 on Friday. The firm has a market capitalization of $27.85 billion, a PE ratio of 26.08, a P/E/G ratio of 2.83 and a beta of 0.74. Tractor Supply Company has a 52 week low of $46.85 and a 52 week high of $61.53. The firm's 50-day simple moving average is $50.71 and its 200 day simple moving average is $53.16. 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 (NASDAQ:TSCO - Get Free Report) last announced its earnings results on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share (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 business had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.55 billion. During the same quarter in the previous year, the firm posted $1.83 EPS. The business's revenue was up 2.1% on a year-over-year basis. On average, equities research analysts predict that Tractor Supply Company will post 2.17 EPS for the current fiscal year.

Tractor Supply Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th were given a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.92 annualized dividend and a dividend yield of 1.75%. Tractor Supply's dividend payout ratio is currently 45.77%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TSCO. Guggenheim lowered their target price on shares of Tractor Supply from $60.00 to $55.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Raymond James Financial reduced their price objective on shares of Tractor Supply from $61.00 to $57.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. UBS Group set a $54.00 target price on Tractor Supply in a research report on Friday, April 25th. Stephens began coverage on Tractor Supply in a research note on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 target price for the company. Finally, Robert W. Baird reduced their price target on Tractor Supply from $63.00 to $56.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Tractor Supply currently has an average rating of "Moderate Buy" and an average price target of $58.02.

Insider Activity

In other news, SVP Matthew L. Rubin sold 2,810 shares of the business'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 completion of the transaction, the senior vice president now owns 29,722 shares of the company's stock, valued at $1,538,410.72. The trade was a 8.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.65% of the company's stock.

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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