Redmond Asset Management LLC decreased its holdings in Tractor Supply (NASDAQ:TSCO) by 7.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,968 shares of the specialty retailer’s stock after selling 2,315 shares during the quarter. Tractor Supply comprises about 1.4% of Redmond Asset Management LLC’s portfolio, making the stock its 12th biggest position. Redmond Asset Management LLC’s holdings in Tractor Supply were worth $3,369,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Icon Wealth Partners LLC acquired a new stake in shares of Tractor Supply in the 1st quarter worth $27,000. Lindbrook Capital LLC raised its stake in Tractor Supply by 79.7% in the 1st quarter. Lindbrook Capital LLC now owns 451 shares of the specialty retailer’s stock worth $44,000 after acquiring an additional 200 shares during the last quarter. Pinnacle Financial Partners Inc. purchased a new position in Tractor Supply in the 1st quarter worth $49,000. Quadrant Capital Group LLC raised its stake in Tractor Supply by 241.8% in the 1st quarter. Quadrant Capital Group LLC now owns 523 shares of the specialty retailer’s stock worth $50,000 after acquiring an additional 370 shares during the last quarter. Finally, Flagship Harbor Advisors LLC raised its stake in Tractor Supply by 255.9% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 484 shares of the specialty retailer’s stock worth $52,000 after acquiring an additional 348 shares during the last quarter. 81.77% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ TSCO traded up $0.11 during trading on Thursday, reaching $99.84. 22,700 shares of the company traded hands, compared to its average volume of 1,275,584. The company has a fifty day moving average price of $109.36. The firm has a market cap of $12.23 billion, a PE ratio of 23.23, a P/E/G ratio of 1.92 and a beta of 1.10. Tractor Supply has a 12-month low of $78.67 and a 12-month high of $114.25. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.16 and a current ratio of 1.52.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 26th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $1.40 annualized dividend and a dividend yield of 1.40%. Tractor Supply’s dividend payout ratio is presently 32.48%.
In related news, SVP John P. Ordus sold 10,968 shares of Tractor Supply 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 document filed with the SEC, which is available through the SEC website. Also, COO Steve K. Barbarick sold 36,108 shares of Tractor Supply 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. In the last 90 days, insiders sold 64,933 shares of company stock valued at $6,865,486. 1.50% of the stock is owned by company insiders.
A number of brokerages recently issued reports on TSCO. Barclays raised their target price on Tractor Supply from $100.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, May 16th. Wells Fargo & Co restated a “buy” rating and issued a $125.00 target price on shares of Tractor Supply in a research note on Thursday, July 25th. Wedbush restated an “outperform” rating and issued a $115.00 target price on shares of Tractor Supply in a research note on Thursday, May 16th. BidaskClub upgraded Tractor Supply from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th. Finally, Morgan Stanley set a $112.00 target price on Tractor Supply and gave the stock a “hold” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $107.65.
About Tractor Supply
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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