Belpointe Asset Management LLC Lowers Position in Tractor Supply (NASDAQ:TSCO)

Belpointe Asset Management LLC reduced its stake in Tractor Supply (NASDAQ:TSCO) by 14.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,119 shares of the specialty retailer’s stock after selling 194 shares during the quarter. Belpointe Asset Management LLC’s holdings in Tractor Supply were worth $208,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kornitzer Capital Management Inc. KS raised its position in Tractor Supply by 0.3% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 178,119 shares of the specialty retailer’s stock valued at $33,141,000 after buying an additional 563 shares during the last quarter. Mn Services Vermogensbeheer B.V. purchased a new stake in shares of Tractor Supply during the 2nd quarter valued at $13,383,000. Trillium Asset Management LLC increased its position in shares of Tractor Supply by 9.6% during the 1st quarter. Trillium Asset Management LLC now owns 179,801 shares of the specialty retailer’s stock valued at $31,838,000 after purchasing an additional 15,742 shares during the last quarter. Parcion Private Wealth LLC increased its position in shares of Tractor Supply by 22.3% during the 2nd quarter. Parcion Private Wealth LLC now owns 38,674 shares of the specialty retailer’s stock valued at $7,196,000 after purchasing an additional 7,043 shares during the last quarter. Finally, Swiss National Bank increased its position in shares of Tractor Supply by 5.9% during the 2nd quarter. Swiss National Bank now owns 474,250 shares of the specialty retailer’s stock valued at $88,239,000 after purchasing an additional 26,249 shares during the last quarter. 86.68% of the stock is owned by institutional investors and hedge funds.

Shares of TSCO opened at $205.26 on Wednesday. The company has a market cap of $23.47 billion, a PE ratio of 27.33, a price-to-earnings-growth ratio of 2.66 and a beta of 1.03. The company has a current ratio of 1.71, a quick ratio of 0.76 and a debt-to-equity ratio of 0.51. The stock has a 50-day moving average price of $190.95 and a 200-day moving average price of $183.55. Tractor Supply has a 12-month low of $127.78 and a 12-month high of $207.54.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Sunday, July 18th. The specialty retailer reported $3.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.94 by $0.25. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.48 billion. Tractor Supply had a return on equity of 49.01% and a net margin of 7.39%. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter last year, the company posted $2.90 EPS. As a group, analysts predict that Tractor Supply will post 7.96 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 8th. Stockholders of record on Monday, August 23rd were given a dividend of $0.52 per share. The ex-dividend date was Friday, August 20th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.01%. Tractor Supply’s dividend payout ratio (DPR) is presently 30.28%.

Several equities research analysts have recently issued reports on TSCO shares. Morgan Stanley raised their target price on Tractor Supply from $190.00 to $195.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 20th. Credit Suisse Group raised their target price on Tractor Supply from $180.00 to $190.00 and gave the company a “neutral” rating in a research report on Tuesday, July 20th. Telsey Advisory Group raised their target price on Tractor Supply from $205.00 to $213.00 and gave the company an “outperform” rating in a research report on Friday, July 16th. Zacks Investment Research lowered Tractor Supply from a “buy” rating to a “hold” rating and set a $214.00 price objective for the company. in a report on Tuesday. Finally, Northcoast Research raised Tractor Supply from a “neutral” rating to a “buy” rating and set a $220.00 price objective for the company in a report on Thursday, July 1st. Eleven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tractor Supply presently has an average rating of “Buy” and a consensus price target of $193.73.

In related news, CMO Jonathan S. Estep sold 3,786 shares of the firm’s stock in a transaction dated Friday, August 20th. The stock was sold at an average price of $198.00, for a total transaction of $749,628.00. Following the transaction, the chief marketing officer now directly owns 9,455 shares of the company’s stock, valued at approximately $1,872,090. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John P. Ordus sold 19,429 shares of the firm’s stock in a transaction dated Friday, September 10th. The shares were sold at an average price of $205.00, for a total value of $3,982,945.00. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.

Tractor Supply Profile

Tractor Supply Co engages in the retail sale of farm and ranch products. It operates retail farm & ranch stores and focuses on supplying the lifestyle needs of recreational farmers and ranchers, as well as tradesmen and small businesses. The firm operates the retail stores under the names: Tractor Supply Company, Del’s Feed & Farm Supply, and Petsense.

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Institutional Ownership by Quarter for Tractor Supply (NASDAQ:TSCO)

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