Wealth Enhancement Advisory Services LLC Acquires 68,487 Shares of Tractor Supply Company (NASDAQ:TSCO)

Wealth Enhancement Advisory Services LLC raised its position in shares of Tractor Supply Company (NASDAQ:TSCO - Free Report) by 27.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 319,132 shares of the specialty retailer's stock after purchasing an additional 68,487 shares during the period. Wealth Enhancement Advisory Services LLC owned about 0.06% of Tractor Supply worth $17,584,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of TSCO. Vanguard Group Inc. increased its holdings in shares of Tractor Supply by 392.5% in the 4th quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer's stock valued at $3,397,643,000 after acquiring an additional 51,031,178 shares during the period. Wellington Management Group LLP lifted its position in Tractor Supply by 401.8% during the 4th quarter. Wellington Management Group LLP now owns 23,789,249 shares of the specialty retailer's stock worth $1,262,258,000 after acquiring an additional 19,048,385 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Tractor Supply by 403.3% in the fourth quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer's stock worth $1,180,932,000 after buying an additional 17,834,643 shares during the last quarter. Capital World Investors boosted its stake in shares of Tractor Supply by 403.7% in the fourth quarter. Capital World Investors now owns 19,433,135 shares of the specialty retailer's stock worth $1,031,122,000 after buying an additional 15,575,311 shares during the last quarter. Finally, Capital International Investors boosted its position in Tractor Supply by 334.7% during the fourth quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer's stock worth $818,421,000 after purchasing an additional 11,880,010 shares in the last quarter. 98.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TSCO has been the topic of a number of recent analyst reports. Telsey Advisory Group set a $60.00 price target on Tractor Supply in a research report on Friday, April 25th. Robert W. Baird reduced their target price on Tractor Supply from $63.00 to $56.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Mizuho reduced their target price on Tractor Supply from $62.00 to $58.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Citigroup dropped their price objective on Tractor Supply from $59.00 to $51.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Finally, UBS Group set a $54.00 target price on Tractor Supply in a research note on Friday, April 25th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $58.02.

Insider Activity at Tractor Supply

In related news, SVP Matthew L. Rubin sold 2,810 shares of Tractor Supply stock in a transaction dated Wednesday, May 14th. The stock was 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 directly owns 29,722 shares in the company, valued at approximately $1,538,410.72. This trade represents a 8.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.65% of the stock is owned by insiders.

Tractor Supply Stock Performance

TSCO opened at $52.52 on Monday. The stock's 50 day simple moving average is $50.71 and its 200 day simple moving average is $53.13. The stock has a market cap of $27.85 billion, a P/E ratio of 26.08, a P/E/G ratio of 2.83 and a beta of 0.74. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.41 and a quick ratio of 0.17. Tractor Supply Company has a 1-year low of $46.85 and a 1-year 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 earnings per share 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 analysts' expectations of $3.55 billion. During the same period in the prior year, the company earned $1.83 EPS. The company's revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities analysts anticipate that Tractor Supply Company will post 2.17 EPS for the current fiscal year.

Tractor Supply Cuts Dividend

The business 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. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.92 annualized dividend and a yield of 1.75%. Tractor Supply's dividend payout ratio is currently 45.77%.

Tractor Supply 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.

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