Alpine Woods Capital Investors LLC Lowers Position in Tractor Supply Company (NASDAQ:TSCO)

Alpine Woods Capital Investors LLC lowered its position in Tractor Supply Company (NASDAQ:TSCO - Free Report) by 33.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 32,132 shares of the specialty retailer's stock after selling 16,068 shares during the quarter. Alpine Woods Capital Investors LLC's holdings in Tractor Supply were worth $1,770,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TSCO. Rehmann Capital Advisory Group purchased a new position in shares of Tractor Supply in the first quarter worth about $265,000. Linden Thomas Advisory Services LLC lifted its stake in shares of Tractor Supply by 2.1% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 59,552 shares of the specialty retailer's stock valued at $3,281,000 after buying an additional 1,216 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in Tractor Supply by 14.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 27,303 shares of the specialty retailer's stock worth $1,424,000 after buying an additional 3,441 shares during the period. Stratos Wealth Partners LTD. boosted its holdings in Tractor Supply by 8.1% in the 1st quarter. Stratos Wealth Partners LTD. now owns 93,290 shares of the specialty retailer's stock worth $5,140,000 after buying an additional 7,019 shares during the period. Finally, Fullcircle Wealth LLC grew its stake in Tractor Supply by 17.9% in the 1st quarter. Fullcircle Wealth LLC now owns 4,184 shares of the specialty retailer's stock valued at $231,000 after buying an additional 635 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TSCO. UBS Group set a $54.00 target price on Tractor Supply in a research report on Friday, April 25th. Mizuho dropped their price objective on Tractor Supply from $62.00 to $58.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Telsey Advisory Group set a $60.00 target price on Tractor Supply in a research note on Friday, April 25th. Guggenheim decreased their price target on Tractor Supply from $60.00 to $55.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Finally, Wall Street Zen downgraded shares of Tractor Supply from a "hold" rating to a "sell" rating in a report on Friday, June 6th. Two equities 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 stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $58.02.

Insider Activity

In related news, SVP Matthew L. Rubin sold 2,810 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $51.76, for a total transaction of $145,445.60. Following the completion of the sale, the senior vice president directly owned 29,722 shares in the company, valued at $1,538,410.72. This 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 56,630 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $53.00, for a total value of $3,001,390.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 102,445 shares of company stock valued at $5,554,242. 0.65% of the stock is currently owned by insiders.

Tractor Supply Price Performance

Shares of TSCO traded down $0.65 during midday trading on Friday, reaching $56.79. The stock had a trading volume of 5,881,088 shares, compared to its average volume of 5,163,963. The company has a market capitalization of $30.11 billion, a price-to-earnings ratio of 28.20, a price-to-earnings-growth ratio of 3.09 and a beta of 0.75. The company has a current ratio of 1.41, a quick ratio of 0.17 and a debt-to-equity ratio of 0.94. Tractor Supply Company has a 12-month low of $46.85 and a 12-month high of $61.53. The company's 50-day moving average is $52.05 and its 200 day moving average is $53.09.

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 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 firm's revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.83 earnings per share. On average, equities analysts predict 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. Shareholders of record on Wednesday, May 28th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.92 annualized dividend and a yield of 1.62%. Tractor Supply's payout ratio is 45.77%.

Tractor Supply Company Profile

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.