James Investment Research Inc. Cuts Stock Position in Tractor Supply Company (NASDAQ:TSCO)

James Investment Research Inc. trimmed its holdings in shares of Tractor Supply Company (NASDAQ:TSCO) by 2.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,496 shares of the specialty retailer’s stock after selling 541 shares during the quarter. James Investment Research Inc.’s holdings in Tractor Supply were worth $1,460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TSCO. Vanguard Group Inc. raised its holdings in Tractor Supply by 392.5% in the 4th quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer’s stock worth $3,397,643,000 after purchasing an additional 51,031,178 shares during the period. Wellington Management Group LLP raised its stake in shares of Tractor Supply by 401.8% during the 4th quarter. Wellington Management Group LLP now owns 23,789,249 shares of the specialty retailer’s stock worth $1,262,258,000 after buying an additional 19,048,385 shares during the period. Alliancebernstein L.P. raised its stake in shares of Tractor Supply by 403.3% during the 4th quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer’s stock worth $1,180,932,000 after buying an additional 17,834,643 shares during the period. Capital World Investors raised its holdings in shares of Tractor Supply by 403.7% during the fourth quarter. Capital World Investors now owns 19,433,135 shares of the specialty retailer’s stock valued at $1,031,122,000 after acquiring an additional 15,575,311 shares during the last quarter. Finally, Capital International Investors raised its holdings in shares of Tractor Supply by 334.7% during the fourth quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer’s stock valued at $818,421,000 after acquiring an additional 11,880,010 shares during the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Tractor Supply Trading Down 2.9%

TSCO opened at $56.34 on Wednesday. Tractor Supply Company has a 52 week low of $46.85 and a 52 week high of $61.53. The business has a fifty day simple moving average of $52.29 and a 200-day simple moving average of $53.11. The firm has a market cap of $29.87 billion, a P/E ratio of 27.97, a P/E/G ratio of 3.13 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.

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

Tractor Supply Cuts Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend was Wednesday, May 28th. Tractor Supply’s payout ratio is currently 45.77%.

Insider Activity

In other news, 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 sale, the executive vice president directly owned 74,605 shares in the company, valued at approximately $4,177,880. This trade represents a 32.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Denise L. Jackson sold 2,000 shares of the stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $57.75, for a total value of $115,500.00. Following the completion of the sale, the director owned 32,288 shares in the company, valued at approximately $1,864,632. The trade was a 5.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 104,445 shares of company stock worth $5,669,742. Corporate insiders own 0.65% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Robert W. Baird reduced their target price on Tractor Supply from $63.00 to $56.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Telsey Advisory Group set a $60.00 target price on Tractor Supply in a report on Friday, April 25th. JPMorgan Chase & Co. reduced their target price on Tractor Supply from $59.00 to $56.00 and set a “neutral” rating for the company in a report on Monday, April 28th. Wells Fargo & Company increased their target price on Tractor Supply from $60.00 to $63.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Stephens assumed coverage on Tractor Supply in a research report on Wednesday, April 9th. They issued an “equal weight” rating and a $56.00 price target for the company. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.97.

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.