Harbour Investments Inc. Decreases Stake in Tractor Supply (NASDAQ:TSCO)

Harbour Investments Inc. cut its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 41.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 916 shares of the specialty retailer’s stock after selling 641 shares during the period. Harbour Investments Inc.’s holdings in Tractor Supply were worth $247,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TSCO. Wedmont Private Capital raised its stake in Tractor Supply by 3.6% during the 1st quarter. Wedmont Private Capital now owns 1,309 shares of the specialty retailer’s stock valued at $331,000 after buying an additional 45 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in Tractor Supply by 998.2% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 109,403 shares of the specialty retailer’s stock valued at $23,525,000 after acquiring an additional 99,441 shares during the period. Scotia Capital Inc. boosted its position in Tractor Supply by 792.9% in the fourth quarter. Scotia Capital Inc. now owns 19,438 shares of the specialty retailer’s stock worth $4,180,000 after purchasing an additional 17,261 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Tractor Supply by 527.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 26,501 shares of the specialty retailer’s stock valued at $7,155,000 after purchasing an additional 22,279 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Tractor Supply by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 12,804,873 shares of the specialty retailer’s stock valued at $2,753,432,000 after purchasing an additional 48,439 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Tractor Supply from $285.00 to $295.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. Wedbush reissued a “neutral” rating and set a $270.00 price objective on shares of Tractor Supply in a research report on Friday, July 26th. Evercore ISI decreased their target price on Tractor Supply from $290.00 to $280.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. JPMorgan Chase & Co. boosted their price target on Tractor Supply from $241.00 to $263.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $305.00 price objective on shares of Tractor Supply in a research note on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $256.58.

Insider Buying and Selling

In other Tractor Supply news, SVP Matthew L. Rubin sold 540 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $262.35, for a total transaction of $141,669.00. Following the transaction, the senior vice president now owns 5,170 shares in the company, valued at $1,356,349.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.24% of the stock is owned by corporate insiders.

Tractor Supply Stock Performance

Shares of NASDAQ:TSCO opened at $267.55 on Friday. The firm has a fifty day simple moving average of $265.25 and a two-hundred day simple moving average of $263.33. Tractor Supply has a 52 week low of $185.00 and a 52 week high of $290.38. The company has a quick ratio of 0.25, a current ratio of 1.43 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $28.86 billion, a P/E ratio of 26.05, a PEG ratio of 3.43 and a beta of 0.81.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, July 25th. The specialty retailer reported $3.93 EPS for the quarter, hitting the consensus estimate of $3.93. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. The company had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.28 billion. During the same quarter last year, the business posted $3.83 earnings per share. The firm’s revenue was up 1.6% on a year-over-year basis. On average, analysts expect that Tractor Supply will post 10.23 earnings per share for the current fiscal year.

Tractor Supply Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 26th will be issued a dividend of $1.10 per share. The ex-dividend date is Monday, August 26th. This represents a $4.40 annualized dividend and a yield of 1.64%. Tractor Supply’s payout ratio is presently 42.84%.

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.