Perigon Wealth Management LLC Purchases 2,910 Shares of Tractor Supply Company (NASDAQ:TSCO)

Perigon Wealth Management LLC raised its position in shares of Tractor Supply Company (NASDAQ:TSCO) by 8.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,458 shares of the specialty retailer’s stock after acquiring an additional 2,910 shares during the period. Perigon Wealth Management LLC’s holdings in Tractor Supply were worth $2,009,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Wedmont Private Capital grew its holdings 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 worth $450,000 after purchasing an additional 212 shares during the last quarter. Procyon Advisors LLC grew its holdings 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 worth $792,000 after purchasing an additional 238 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Tractor Supply by 5.5% in the first quarter. International Assets Investment Management LLC now owns 4,678 shares of the specialty retailer’s stock worth $258,000 after purchasing an additional 242 shares during the last quarter. Family Legacy Inc. grew its holdings in shares of Tractor Supply by 1.7% in the first quarter. Family Legacy Inc. now owns 17,157 shares of the specialty retailer’s stock worth $945,000 after purchasing an additional 281 shares during the last quarter. Finally, Advisory Alpha LLC grew its holdings 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 worth $266,000 after purchasing an additional 283 shares during the last quarter. Institutional investors own 98.72% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on TSCO. Guggenheim cut their price target on shares of Tractor Supply from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, April 25th. UBS Group set a $54.00 price target on shares of Tractor Supply in a report on Friday, April 25th. JPMorgan Chase & Co. cut their price target on shares of Tractor Supply from $59.00 to $56.00 and set a “neutral” rating on the stock in a report on Monday, April 28th. Raymond James Financial dropped their target price on shares of Tractor Supply from $61.00 to $57.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Finally, Telsey Advisory Group set a $60.00 target price on shares of Tractor Supply in a report on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $58.02.

Insider Activity at Tractor Supply

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

Tractor Supply Stock Performance

TSCO stock opened at $51.71 on Friday. The firm has a market cap of $27.42 billion, a price-to-earnings ratio of 25.68, a PEG ratio of 2.79 and a beta of 0.74. The firm has a 50-day simple moving average of $50.92 and a two-hundred day simple moving average of $53.04. Tractor Supply Company has a one year low of $46.85 and a one year high of $61.53. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.17 and a current ratio of 1.41.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, April 24th. The specialty retailer reported $0.34 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.03). The firm had revenue of $3.47 billion for 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 business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.83 earnings per share. On average, equities analysts forecast that Tractor Supply Company will post 2.17 EPS 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 given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend was Wednesday, May 28th. Tractor Supply’s payout ratio is currently 45.77%.

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.