Brown Advisory Inc. Cuts Stock Holdings in Tractor Supply Company (NASDAQ:TSCO)

Brown Advisory Inc. reduced its position in shares of Tractor Supply Company (NASDAQ:TSCO) by 42.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,180 shares of the specialty retailer’s stock after selling 10,435 shares during the period. Brown Advisory Inc.’s holdings in Tractor Supply were worth $781,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in TSCO. Proficio Capital Partners LLC increased its holdings in Tractor Supply by 956.9% in the fourth quarter. Proficio Capital Partners LLC now owns 9,269 shares of the specialty retailer’s stock valued at $492,000 after buying an additional 8,392 shares in the last quarter. HighTower Advisors LLC increased its holdings in Tractor Supply by 415.7% in the fourth quarter. HighTower Advisors LLC now owns 231,140 shares of the specialty retailer’s stock valued at $12,264,000 after buying an additional 186,321 shares in the last quarter. Avantax Advisory Services Inc. increased its holdings in Tractor Supply by 415.7% in the fourth quarter. Avantax Advisory Services Inc. now owns 40,160 shares of the specialty retailer’s stock valued at $2,131,000 after buying an additional 32,373 shares in the last quarter. Vestcor Inc increased its holdings in Tractor Supply by 399.4% in the fourth quarter. Vestcor Inc now owns 10,803 shares of the specialty retailer’s stock valued at $573,000 after buying an additional 8,640 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in Tractor Supply by 421.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 272,165 shares of the specialty retailer’s stock valued at $14,441,000 after buying an additional 219,983 shares in the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Jonathan S. Estep sold 56,630 shares of Tractor Supply stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $53.00, for a total transaction of $3,001,390.00. Following the sale, the executive vice president owned 74,605 shares of the company’s stock, valued at $3,954,065. The trade was a 43.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Matthew L. Rubin sold 2,810 shares of Tractor Supply stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $51.76, for a total transaction of $145,445.60. Following the sale, the senior vice president directly owned 29,722 shares in the company, valued at $1,538,410.72. This trade represents a 8.64% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 104,445 shares of company stock valued at $5,669,742. Company insiders own 0.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TSCO. Robert W. Baird dropped their target price on shares of Tractor Supply from $63.00 to $56.00 and set an “outperform” rating for the company in a report on Friday, April 25th. UBS Group set a $54.00 price target on shares of Tractor Supply in a research report on Friday, April 25th. Mizuho lowered their price target on shares of Tractor Supply from $62.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. JPMorgan Chase & Co. lowered their price target on shares of Tractor Supply from $59.00 to $56.00 and set a “neutral” rating on the stock in a research report on Monday, April 28th. Finally, Telsey Advisory Group set a $60.00 price target on shares of Tractor Supply in a research report on Friday, April 25th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $58.02.

Tractor Supply Stock Up 2.2%

Shares of TSCO opened at $58.04 on Tuesday. The firm has a market cap of $30.77 billion, a PE ratio of 28.82, a price-to-earnings-growth ratio of 3.06 and a beta of 0.75. The company’s fifty day moving average is $52.05 and its two-hundred day moving average is $53.07. Tractor Supply Company has a fifty-two week low of $46.85 and a fifty-two week high of $61.53. 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 results 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). 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 for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.83 EPS. Analysts forecast that Tractor Supply Company will post 2.17 earnings per share for the current year.

Tractor Supply Cuts Dividend

The firm also recently announced 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 1.59%. The ex-dividend date was Wednesday, May 28th. Tractor Supply’s dividend payout ratio is presently 45.77%.

Tractor Supply Company 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.