Tractor Supply (NASDAQ:TSCO) Shares Sold by Lorne Steinberg Wealth Management Inc.

Lorne Steinberg Wealth Management Inc. lowered its position in Tractor Supply (NASDAQ:TSCO) by 1.9% in the fourth quarter, Holdings Channel reports. The fund owned 18,155 shares of the specialty retailer’s stock after selling 355 shares during the period. Lorne Steinberg Wealth Management Inc.’s holdings in Tractor Supply were worth $3,904,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Community Bank & Trust Waco Texas purchased a new position in Tractor Supply in the fourth quarter valued at approximately $333,000. Marks Group Wealth Management Inc grew its position in shares of Tractor Supply by 1.2% during the fourth quarter. Marks Group Wealth Management Inc now owns 30,771 shares of the specialty retailer’s stock worth $6,617,000 after acquiring an additional 351 shares during the last quarter. New York State Common Retirement Fund increased its stake in Tractor Supply by 14.7% in the fourth quarter. New York State Common Retirement Fund now owns 117,978 shares of the specialty retailer’s stock valued at $25,369,000 after purchasing an additional 15,084 shares during the period. Significant Wealth Partners LLC acquired a new stake in shares of Tractor Supply during the fourth quarter worth about $695,000. Finally, Duality Advisers LP raised its stake in Tractor Supply by 282.2% during the 4th quarter. Duality Advisers LP now owns 20,654 shares of the specialty retailer’s stock valued at $4,441,000 after acquiring an additional 15,250 shares during the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Analyst Upgrades and Downgrades

TSCO has been the topic of a number of analyst reports. Morgan Stanley reiterated an “underweight” rating and issued a $195.00 price objective on shares of Tractor Supply in a research report on Tuesday, January 16th. Raymond James downgraded shares of Tractor Supply from a “strong-buy” rating to an “outperform” rating and lifted their target price for the company from $230.00 to $250.00 in a report on Friday, February 2nd. Wells Fargo & Company raised their price objective on shares of Tractor Supply from $250.00 to $285.00 and gave the company an “overweight” rating in a research report on Monday, March 25th. Guggenheim lifted their price objective on Tractor Supply from $210.00 to $255.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, Mizuho assumed coverage on Tractor Supply in a research note on Tuesday, March 19th. They set a “neutral” rating and a $245.00 target price for the company. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $241.65.

Insider Transactions at Tractor Supply

In related news, EVP Robert D. Mills sold 48,334 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $232.23, for a total value of $11,224,604.82. Following the completion of the sale, the executive vice president now directly owns 22,167 shares in the company, valued at approximately $5,147,842.41. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Robert D. Mills sold 48,334 shares of Tractor Supply stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $232.23, for a total transaction of $11,224,604.82. Following the sale, the executive vice president now owns 22,167 shares in the company, valued at $5,147,842.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Colin Yankee sold 8,675 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $250.00, for a total transaction of $2,168,750.00. Following the completion of the transaction, the executive vice president now owns 9,673 shares of the company’s stock, valued at $2,418,250. The disclosure for this sale can be found here. Insiders sold 90,090 shares of company stock valued at $21,201,877 over the last 90 days. Corporate insiders own 0.58% of the company’s stock.

Tractor Supply Trading Up 0.5 %

Shares of TSCO stock traded up $1.18 on Wednesday, reaching $257.14. 495,313 shares of the stock were exchanged, compared to its average volume of 1,141,601. The company has a quick ratio of 0.28, a current ratio of 1.50 and a debt-to-equity ratio of 0.82. The stock has a market cap of $27.75 billion, a P/E ratio of 25.37, a price-to-earnings-growth ratio of 3.81 and a beta of 0.84. The firm has a 50 day moving average of $250.69 and a two-hundred day moving average of $225.60. Tractor Supply has a 1-year low of $185.00 and a 1-year high of $268.02.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, February 1st. The specialty retailer reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.06. The company had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.67 billion. Tractor Supply had a return on equity of 53.60% and a net margin of 7.61%. The company’s quarterly revenue was down 8.6% compared to the same quarter last year. During the same period last year, the business posted $2.43 EPS. On average, research analysts anticipate that Tractor Supply will post 10.2 EPS for the current year.

Tractor Supply Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were paid a dividend of $1.10 per share. This is an increase from Tractor Supply’s previous quarterly dividend of $1.03. This represents a $4.40 annualized dividend and a yield of 1.71%. The ex-dividend date was Friday, February 23rd. Tractor Supply’s payout ratio is currently 43.61%.

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.