Novem Group Raises Position in Tractor Supply Company (NASDAQ:TSCO)

Novem Group grew its position in shares of Tractor Supply Company (NASDAQ:TSCO) by 8.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 9,250 shares of the specialty retailer’s stock after acquiring an additional 722 shares during the period. Novem Group’s holdings in Tractor Supply were worth $510,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TSCO. FORA Capital LLC grew its stake in Tractor Supply by 434.1% in 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. Sowell Financial Services LLC boosted its holdings in shares of Tractor Supply by 49.3% during the 1st quarter. Sowell Financial Services LLC now owns 20,029 shares of the specialty retailer’s stock valued at $1,104,000 after buying an additional 6,612 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Tractor Supply by 9.2% in the 1st quarter. Sequoia Financial Advisors LLC now owns 112,233 shares of the specialty retailer’s stock worth $6,184,000 after buying an additional 9,483 shares during the period. CIBC Private Wealth Group LLC increased 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 in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Tractor Supply by 27.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 319,132 shares of the specialty retailer’s stock worth $17,584,000 after acquiring an additional 68,487 shares in the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 2,810 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $51.76, for a total value of $145,445.60. Following the transaction, the senior vice president owned 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jonathan S. Estep sold 56,630 shares of the firm’s stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $53.00, for a total value of $3,001,390.00. Following the completion of the transaction, the executive vice president directly owned 74,605 shares in the company, valued at $3,954,065. The trade was a 43.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TSCO shares. Raymond James Financial cut their price objective 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. UBS Group set a $54.00 price target on Tractor Supply in a research note on Friday, April 25th. Robert W. Baird reduced their price objective on Tractor Supply from $63.00 to $56.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Telsey Advisory Group set a $60.00 price objective on Tractor Supply in a research note on Friday, April 25th. Finally, Stephens initiated coverage on Tractor Supply in a research note on Wednesday, April 9th. They issued an “equal weight” rating and a $56.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $58.02.

Tractor Supply Price Performance

TSCO opened at $54.80 on Friday. The company’s 50-day simple moving average is $51.27 and its two-hundred day simple moving average is $52.98. 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 market capitalization of $29.05 billion, a P/E ratio of 27.21, a P/E/G ratio of 2.97 and a beta of 0.75. Tractor Supply Company has a 52-week low of $46.85 and a 52-week high of $61.53.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share 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 company had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter last year, the company earned $1.83 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, analysts predict that Tractor Supply Company will post 2.17 EPS for the current 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. The ex-dividend date was Wednesday, May 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.68%. Tractor Supply’s dividend payout ratio (DPR) 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.