Assenagon Asset Management S.A. Sells 32,434 Shares of Tractor Supply (NASDAQ:TSCO)

Assenagon Asset Management S.A. decreased its position in Tractor Supply (NASDAQ:TSCO - Free Report) by 88.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,222 shares of the specialty retailer's stock after selling 32,434 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Tractor Supply were worth $1,105,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of TSCO. Global Retirement Partners LLC raised its position in Tractor Supply by 129.4% during the 1st quarter. Global Retirement Partners LLC now owns 5,303 shares of the specialty retailer's stock valued at $1,388,000 after purchasing an additional 2,991 shares during the last quarter. Covenant Asset Management LLC raised its holdings in shares of Tractor Supply by 20.0% during the first quarter. Covenant Asset Management LLC now owns 2,669 shares of the specialty retailer's stock valued at $699,000 after acquiring an additional 445 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in Tractor Supply by 2.9% in the first quarter. Venturi Wealth Management LLC now owns 6,838 shares of the specialty retailer's stock worth $1,790,000 after acquiring an additional 193 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in Tractor Supply by 17.6% in the first quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,530 shares of the specialty retailer's stock valued at $641,000 after acquiring an additional 378 shares in the last quarter. Finally, Accurate Wealth Management LLC bought a new stake in Tractor Supply in the first quarter valued at $2,605,000. 98.72% of the stock is owned by institutional investors.

Tractor Supply Stock Performance

Tractor Supply stock traded up $1.64 during midday trading on Tuesday, reaching $285.68. 1,791,158 shares of the company traded hands, compared to its average volume of 1,151,344. Tractor Supply has a 12 month low of $185.00 and a 12 month high of $287.89. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.40 and a quick ratio of 0.19. The business has a 50 day moving average of $261.76 and a two-hundred day moving average of $236.09. The firm has a market capitalization of $30.80 billion, a price-to-earnings ratio of 27.82, a price-to-earnings-growth ratio of 3.59 and a beta of 0.82.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.13. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. The firm had revenue of $3.39 billion for the quarter, compared to analysts' expectations of $3.40 billion. During the same period in the prior year, the firm earned $1.65 EPS. The company's revenue was up 2.8% compared to the same quarter last year. As a group, research analysts predict that Tractor Supply will post 10.33 earnings per share for the current year.

Tractor Supply Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 28th will be paid a dividend of $1.10 per share. The ex-dividend date of this dividend is Friday, May 24th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.54%. Tractor Supply's dividend payout ratio is currently 42.84%.

Insider Activity

In related news, CFO Kurt D. Barton sold 4,335 shares of the business's stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $257.00, for a total transaction of $1,114,095.00. Following the completion of the sale, the chief financial officer now directly owns 20,678 shares in the company, valued at $5,314,246. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Colin Yankee sold 8,675 shares of the firm's stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $250.00, for a total value of $2,168,750.00. Following the transaction, the executive vice president now owns 9,673 shares of the company's stock, valued at $2,418,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kurt D. Barton sold 4,335 shares of the business's stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $257.00, for a total value of $1,114,095.00. Following the transaction, the chief financial officer now owns 20,678 shares of the company's stock, valued at $5,314,246. The disclosure for this sale can be found here. Insiders own 0.24% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on TSCO. Morgan Stanley raised their target price on shares of Tractor Supply from $195.00 to $235.00 and gave the stock an "underweight" rating in a research report on Friday, April 26th. TD Cowen lifted their price objective on Tractor Supply from $250.00 to $270.00 and gave the company a "buy" rating in a research report on Friday, April 26th. Wells Fargo & Company increased their target price on Tractor Supply from $250.00 to $285.00 and gave the stock an "overweight" rating in a research report on Monday, March 25th. Mizuho restated a "neutral" rating and set a $250.00 price target (up from $245.00) on shares of Tractor Supply in a research report on Friday, April 26th. Finally, Raymond James upped their price target on Tractor Supply from $250.00 to $285.00 and gave the stock an "outperform" rating in a research note on Friday, April 26th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $253.96.

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.

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