Coatue Management LLC trimmed its holdings in Tractor Supply (NASDAQ:TSCO) by 81.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,590 shares of the specialty retailer’s stock after selling 7,123 shares during the quarter. Coatue Management LLC’s holdings in Tractor Supply were worth $210,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in TSCO. Dupont Capital Management Corp raised its holdings in shares of Tractor Supply by 133.0% in the first quarter. Dupont Capital Management Corp now owns 5,921 shares of the specialty retailer’s stock valued at $501,000 after buying an additional 3,380 shares during the last quarter. Public Employees Retirement Association of Colorado raised its holdings in shares of Tractor Supply by 0.6% in the first quarter. Public Employees Retirement Association of Colorado now owns 175,276 shares of the specialty retailer’s stock valued at $14,820,000 after buying an additional 1,078 shares during the last quarter. Forsta AP Fonden bought a new position in shares of Tractor Supply in the first quarter valued at about $237,000. Hohimer Wealth Management LLC raised its holdings in shares of Tractor Supply by 41.9% in the first quarter. Hohimer Wealth Management LLC now owns 4,892 shares of the specialty retailer’s stock valued at $504,000 after buying an additional 1,445 shares during the last quarter. Finally, Aperio Group LLC raised its holdings in shares of Tractor Supply by 1.3% in the first quarter. Aperio Group LLC now owns 119,952 shares of the specialty retailer’s stock valued at $10,142,000 after buying an additional 1,582 shares during the last quarter. 84.91% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Robert D. Mills sold 14,706 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $120.29, for a total transaction of $1,768,984.74. Following the sale, the executive vice president now owns 29,171 shares in the company, valued at approximately $3,508,979.59. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Benjamin F. Parrish, Jr. sold 120,619 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $148.10, for a total value of $17,863,673.90. Following the sale, the executive vice president now owns 67,262 shares in the company, valued at approximately $9,961,502.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 140,325 shares of company stock valued at $20,354,959. Insiders own 1.50% of the company’s stock.
TSCO has been the subject of several recent research reports. Morgan Stanley cut Tractor Supply from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $145.00 to $155.00 in a report on Friday, July 24th. Robert W. Baird boosted their price objective on Tractor Supply from $130.00 to $162.00 and gave the stock an “outperform” rating in a report on Monday, July 20th. Stephens boosted their price objective on Tractor Supply from $135.00 to $155.00 and gave the stock an “overweight” rating in a report on Monday, July 20th. Northcoast Research cut Tractor Supply from a “buy” rating to a “neutral” rating in a report on Tuesday, May 19th. Finally, BidaskClub cut Tractor Supply from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 29th. Nineteen research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Tractor Supply presently has an average rating of “Hold” and an average target price of $132.44.
NASDAQ:TSCO traded down $3.50 during trading hours on Friday, reaching $142.08. 1,363,428 shares of the stock were exchanged, compared to its average volume of 1,225,395. Tractor Supply has a twelve month low of $63.89 and a twelve month high of $155.56. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 0.62. The firm has a 50 day moving average of $147.41 and a 200 day moving average of $115.57. The stock has a market cap of $16.51 billion, a PE ratio of 24.25, a PEG ratio of 1.96 and a beta of 1.01.
Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, July 23rd. The specialty retailer reported $2.90 earnings per share for the quarter, topping analysts’ consensus estimates of $2.62 by $0.28. Tractor Supply had a return on equity of 45.25% and a net margin of 7.40%. The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter in the prior year, the firm posted $1.80 EPS. The business’s revenue was up 34.9% on a year-over-year basis. Equities research analysts anticipate that Tractor Supply will post 6.29 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $1.60 dividend on an annualized basis and a yield of 1.13%. This is an increase from Tractor Supply’s previous quarterly dividend of $0.35. Tractor Supply’s dividend payout ratio is 34.19%.
Tractor Supply Profile
Tractor Supply Company operates rural lifestyle retail stores in the United States. The company offers a selection of merchandise, including equine, livestock, pet, and small animal products necessary for their health, care, growth, and containment; hardware, truck, towing, and tool products; seasonal products, such as heating products, lawn and garden items, power equipment, gifts, and toys; work/recreational clothing and footwear; and maintenance products for agricultural and rural use.
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