Sagespring Wealth Partners LLC Boosts Stock Position in Tractor Supply (NASDAQ:TSCO)

Sagespring Wealth Partners LLC raised its stake in Tractor Supply (NASDAQ:TSCO) by 1.7% during the 1st quarter, HoldingsChannel reports. The firm owned 33,525 shares of the specialty retailer’s stock after acquiring an additional 563 shares during the period. Sagespring Wealth Partners LLC’s holdings in Tractor Supply were worth $1,847,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FORA Capital LLC lifted its holdings in shares of Tractor Supply by 434.1% during the fourth quarter. FORA Capital LLC now owns 35,526 shares of the specialty retailer’s stock worth $1,885,000 after purchasing an additional 28,875 shares during the period. CIBC Private Wealth Group LLC lifted its stake in shares of Tractor Supply by 385.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,089,542 shares of the specialty retailer’s stock worth $59,260,000 after acquiring an additional 865,273 shares during the period. BOK Financial Private Wealth Inc. boosted its holdings in shares of Tractor Supply by 330.2% in the fourth quarter. BOK Financial Private Wealth Inc. now owns 21,355 shares of the specialty retailer’s stock valued at $1,133,000 after acquiring an additional 16,391 shares in the last quarter. Gen Wealth Partners Inc increased its stake in shares of Tractor Supply by 513.8% during the fourth quarter. Gen Wealth Partners Inc now owns 14,320 shares of the specialty retailer’s stock worth $760,000 after acquiring an additional 11,987 shares during the period. Finally, Blueshift Asset Management LLC increased its stake in shares of Tractor Supply by 571.8% during the fourth quarter. Blueshift Asset Management LLC now owns 66,815 shares of the specialty retailer’s stock worth $3,545,000 after acquiring an additional 56,870 shares during the period. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Tractor Supply Trading Up 0.3%

Shares of TSCO opened at $51.69 on Tuesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. Tractor Supply has a 1-year low of $46.85 and a 1-year high of $61.53. The stock has a market cap of $27.41 billion, a price-to-earnings ratio of 25.34, a price-to-earnings-growth ratio of 2.95 and a beta of 0.74. The firm has a 50 day simple moving average of $50.67 and a 200-day simple moving average of $53.28.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. The company had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.55 billion. During the same period in the previous year, the business posted $1.83 EPS. The business’s quarterly revenue was up 2.1% on a year-over-year basis. Equities analysts forecast that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were issued a $0.23 dividend. The ex-dividend date was Wednesday, May 28th. This represents a $0.92 dividend on an annualized basis and a yield of 1.78%. Tractor Supply’s dividend payout ratio (DPR) is 45.77%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TSCO. Guggenheim reduced their price objective on shares of Tractor Supply from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Friday, April 25th. UBS Group set a $54.00 price target on Tractor Supply in a report on Friday, April 25th. Stephens assumed coverage on Tractor Supply in a report on Wednesday, April 9th. They set an “equal weight” rating and a $56.00 price objective on the stock. Mizuho cut their price objective on Tractor Supply from $62.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Finally, Telsey Advisory Group set a $60.00 target price on shares of Tractor Supply in a research report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $58.02.

Insiders Place Their Bets

In related news, SVP Matthew L. Rubin sold 2,810 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $51.76, for a total transaction of $145,445.60. Following the transaction, the senior vice president now owns 29,722 shares of the company’s stock, valued at approximately $1,538,410.72. This represents a 8.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.65% of the stock is owned by corporate insiders.

About Tractor Supply

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.