Tractor Supply Company (NASDAQ:TSCO) Shares Sold by Valmark Advisers Inc.

Valmark Advisers Inc. reduced its position in Tractor Supply Company (NASDAQ:TSCO) by 5.0% in the 1st quarter, Holdings Channel.com reports. The fund owned 8,050 shares of the specialty retailer’s stock after selling 424 shares during the quarter. Valmark Advisers Inc.’s holdings in Tractor Supply were worth $444,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of TSCO. Oppenheimer Asset Management Inc. raised its stake in shares of Tractor Supply by 13.5% during the first quarter. Oppenheimer Asset Management Inc. now owns 19,907 shares of the specialty retailer’s stock worth $1,097,000 after purchasing an additional 2,361 shares during the last quarter. Palumbo Wealth Management LLC raised its stake in shares of Tractor Supply by 30.6% during the first quarter. Palumbo Wealth Management LLC now owns 53,539 shares of the specialty retailer’s stock worth $2,950,000 after purchasing an additional 12,550 shares during the last quarter. TrueMark Investments LLC purchased a new stake in shares of Tractor Supply during the first quarter worth approximately $257,000. Atticus Wealth Management LLC raised its stake in shares of Tractor Supply by 21.4% during the first quarter. Atticus Wealth Management LLC now owns 4,863 shares of the specialty retailer’s stock worth $268,000 after purchasing an additional 858 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Tractor Supply during the first quarter worth approximately $855,000. 98.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on TSCO. Raymond James Financial cut their price target on Tractor Supply from $61.00 to $57.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Mizuho cut their price target on Tractor Supply from $62.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. UBS Group set a $54.00 price target on Tractor Supply in a research note on Friday, April 25th. Stephens initiated coverage on Tractor Supply in a research report on Wednesday, April 9th. They issued an “equal weight” rating and a $56.00 price objective for the company. Finally, JPMorgan Chase & Co. cut their price objective on Tractor Supply from $59.00 to $56.00 and set a “neutral” rating for the company in a research report on Monday, April 28th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $58.02.

Tractor Supply Trading Down 1.3%

Shares of TSCO stock opened at $52.80 on Thursday. Tractor Supply Company has a fifty-two week low of $46.85 and a fifty-two week high of $61.53. The stock has a market cap of $27.99 billion, a P/E ratio of 26.22, a P/E/G ratio of 2.88 and a beta of 0.74. The business has a fifty day simple moving average of $50.86 and a 200-day simple moving average of $53.11. The company has a quick ratio of 0.17, a current ratio of 1.41 and a debt-to-equity ratio of 0.94.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). The firm had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.55 billion. Tractor Supply had a net margin of 7.24% and a return on equity of 47.56%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.83 EPS. On average, analysts forecast that Tractor Supply Company will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date was Wednesday, May 28th. Tractor Supply’s payout ratio is currently 45.77%.

Insider Activity at Tractor Supply

In other Tractor Supply news, EVP Jonathan S. Estep sold 56,630 shares of the firm’s stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $53.00, for a total value of $3,001,390.00. Following the sale, the executive vice president now directly owns 74,605 shares of the company’s stock, valued at approximately $3,954,065. This trade represents a 43.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Matthew L. Rubin sold 2,810 shares of Tractor Supply stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $51.76, for a total value of $145,445.60. Following the completion of the transaction, the senior vice president now directly owns 29,722 shares in the company, valued at $1,538,410.72. This represents a 8.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.65% of the company’s stock.

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.