Wealthfront Advisers LLC Acquires 5,375 Shares of Tractor Supply Company (NASDAQ:TSCO)

Wealthfront Advisers LLC raised its position in Tractor Supply Company (NASDAQ:TSCO) by 6.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 86,109 shares of the specialty retailer’s stock after acquiring an additional 5,375 shares during the period. Wealthfront Advisers LLC’s holdings in Tractor Supply were worth $4,745,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Hager Investment Management Services LLC increased its stake in Tractor Supply by 14.9% in the 1st quarter. Hager Investment Management Services LLC now owns 3,205 shares of the specialty retailer’s stock worth $177,000 after acquiring an additional 415 shares during the last quarter. TimesSquare Capital Management LLC lifted its holdings in Tractor Supply by 4.2% in the 1st quarter. TimesSquare Capital Management LLC now owns 1,223,375 shares of the specialty retailer’s stock worth $67,408,000 after buying an additional 49,495 shares during the period. Signaturefd LLC lifted its stake in shares of Tractor Supply by 3.7% in the 1st quarter. Signaturefd LLC now owns 12,983 shares of the specialty retailer’s stock valued at $715,000 after purchasing an additional 464 shares during the period. Mitchell Mcleod Pugh & Williams Inc. purchased a new position in shares of Tractor Supply in the 1st quarter valued at approximately $204,000. Finally, Bleakley Financial Group LLC increased its position in Tractor Supply by 3.5% during the 1st quarter. Bleakley Financial Group LLC now owns 19,707 shares of the specialty retailer’s stock valued at $1,086,000 after buying an additional 661 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TSCO shares. Wells Fargo & Company boosted their price target on Tractor Supply from $60.00 to $63.00 and gave the company an “overweight” rating in a report on Tuesday. Citigroup cut their target price on Tractor Supply from $59.00 to $51.00 and set a “neutral” rating on the stock in a research note on Friday, April 25th. Telsey Advisory Group set a $60.00 price objective on Tractor Supply in a report on Friday, April 25th. Stephens assumed coverage on shares of Tractor Supply in a research note on Wednesday, April 9th. They set an “equal weight” rating and a $56.00 target price for the company. Finally, UBS Group set a $54.00 target price on shares of Tractor Supply in a report on Friday, April 25th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.95.

Tractor Supply Stock Performance

Shares of Tractor Supply stock opened at $56.83 on Friday. Tractor Supply Company has a twelve month low of $46.85 and a twelve month high of $61.53. The stock has a market cap of $30.13 billion, a price-to-earnings ratio of 28.22, a P/E/G ratio of 3.02 and a beta of 0.75. The company has a quick ratio of 0.17, a current ratio of 1.41 and a debt-to-equity ratio of 0.94. The company’s fifty day moving average is $52.50 and its 200 day moving average is $53.16.

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

Tractor Supply Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.62%. The ex-dividend date was Wednesday, May 28th. Tractor Supply’s dividend payout ratio (DPR) is presently 45.77%.

Insider Transactions at Tractor Supply

In other news, SVP Matthew L. Rubin sold 2,810 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $51.76, for a total transaction of $145,445.60. Following the transaction, the senior vice president directly owned 29,722 shares of the company’s stock, valued at approximately $1,538,410.72. This trade represents a 8.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jonathan S. Estep sold 35,825 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $56.00, for a total value of $2,006,200.00. Following the completion of the sale, the executive vice president owned 74,605 shares of the company’s stock, valued at $4,177,880. The trade was a 32.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 104,445 shares of company stock valued at $5,669,742 over the last 90 days. 0.65% of the stock is owned by company insiders.

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.