Fernwood Investment Management LLC lessened its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 13.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,000 shares of the specialty retailer’s stock after selling 300 shares during the quarter. Fernwood Investment Management LLC’s holdings in Tractor Supply were worth $218,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Icon Wealth Partners LLC acquired a new stake in Tractor Supply during the 1st quarter worth $27,000. Lindbrook Capital LLC raised its stake in Tractor Supply by 79.7% during the 1st quarter. Lindbrook Capital LLC now owns 451 shares of the specialty retailer’s stock worth $44,000 after buying an additional 200 shares during the period. Pinnacle Financial Partners Inc. acquired a new stake in Tractor Supply during the 1st quarter worth $49,000. Quadrant Capital Group LLC raised its stake in Tractor Supply by 241.8% during the 1st quarter. Quadrant Capital Group LLC now owns 523 shares of the specialty retailer’s stock worth $50,000 after buying an additional 370 shares during the period. Finally, Flagship Harbor Advisors LLC raised its stake in Tractor Supply by 255.9% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 484 shares of the specialty retailer’s stock worth $52,000 after buying an additional 348 shares during the period. 81.77% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently commented on TSCO shares. Northcoast Research downgraded Tractor Supply from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 3rd. BidaskClub raised Tractor Supply from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th. Barclays raised their price objective on Tractor Supply from $100.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, May 16th. Wedbush reaffirmed an “outperform” rating and set a $115.00 price objective on shares of Tractor Supply in a research note on Thursday, May 16th. Finally, Piper Jaffray Companies raised their price objective on Tractor Supply from $114.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $107.65.
Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, July 25th. The specialty retailer reported $1.80 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.81 by ($0.01). Tractor Supply had a net margin of 6.71% and a return on equity of 36.12%. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the business earned $1.69 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, sell-side analysts predict that Tractor Supply will post 4.74 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend is Friday, August 23rd. Tractor Supply’s payout ratio is 32.48%.
In other news, SVP John P. Ordus sold 10,968 shares of the firm’s stock in a transaction dated Wednesday, June 19th. The stock was sold at an average price of $104.09, for a total value of $1,141,659.12. Following the completion of the transaction, the senior vice president now owns 21,000 shares in the company, valued at approximately $2,185,890. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Steve K. Barbarick sold 36,108 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $104.10, for a total value of $3,758,842.80. Following the completion of the transaction, the chief operating officer now owns 60,258 shares of the company’s stock, valued at approximately $6,272,857.80. The disclosure for this sale can be found here. Insiders sold a total of 64,933 shares of company stock valued at $6,865,486 in the last 90 days. 1.50% of the stock is owned by corporate insiders.
Tractor Supply Company 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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