PFG Investments LLC Has $1.99 Million Holdings in Tractor Supply Company (NASDAQ:TSCO)

PFG Investments LLC cut its holdings in shares of Tractor Supply Company (NASDAQ:TSCO) by 4.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,029 shares of the specialty retailer’s stock after selling 1,607 shares during the period. PFG Investments LLC’s holdings in Tractor Supply were worth $1,985,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wedmont Private Capital boosted its stake in shares of Tractor Supply by 2.5% in the first quarter. Wedmont Private Capital now owns 8,714 shares of the specialty retailer’s stock valued at $450,000 after buying an additional 212 shares during the period. Procyon Advisors LLC boosted its stake in shares of Tractor Supply by 1.7% in the first quarter. Procyon Advisors LLC now owns 14,371 shares of the specialty retailer’s stock valued at $792,000 after buying an additional 238 shares during the period. Advisory Alpha LLC boosted its stake in shares of Tractor Supply by 6.2% in the first quarter. Advisory Alpha LLC now owns 4,826 shares of the specialty retailer’s stock valued at $266,000 after buying an additional 283 shares during the period. Missouri Trust & Investment Co boosted its stake in shares of Tractor Supply by 28.8% in the first quarter. Missouri Trust & Investment Co now owns 1,365 shares of the specialty retailer’s stock valued at $75,000 after buying an additional 305 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of Tractor Supply by 21.8% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,829 shares of the specialty retailer’s stock valued at $101,000 after buying an additional 327 shares during the period. 98.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on TSCO shares. JPMorgan Chase & Co. cut their price target on Tractor Supply from $59.00 to $56.00 and set a “neutral” rating for the company in a research note on Monday, April 28th. 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. Wall Street Zen cut Tractor Supply from a “hold” rating to a “sell” rating in a research note on Friday, June 6th. Robert W. Baird cut their target price on Tractor Supply from $63.00 to $56.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Finally, Citigroup cut their target price on Tractor Supply from $59.00 to $51.00 and set a “neutral” rating for the company in a research note on Friday, April 25th. Two equities research 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’s stock. Based on data from MarketBeat, Tractor Supply currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.02.

Insider Activity

In related news, SVP Matthew L. Rubin sold 2,810 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $51.76, for a total value of $145,445.60. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.65% of the stock is owned by corporate insiders.

Tractor Supply Stock Up 0.9%

Shares of TSCO opened at $52.52 on Friday. Tractor Supply Company has a 52 week low of $46.85 and a 52 week high of $61.53. The stock has a market capitalization of $27.85 billion, a price-to-earnings ratio of 26.08, a PEG ratio of 2.83 and a beta of 0.74. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.17 and a current ratio of 1.41. The stock has a fifty day moving average of $50.71 and a 200-day moving average of $53.16.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Thursday, April 24th. The specialty retailer reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). Tractor Supply had a net margin of 7.24% and a return on equity of 47.56%. The firm had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter in the previous year, the company posted $1.83 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Tractor Supply Company will post 2.17 earnings per share for the current fiscal 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 $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date was Wednesday, May 28th. Tractor Supply’s payout ratio is 45.77%.

Tractor Supply 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.