Clearstead Advisors LLC Sells 22,970 Shares of Tractor Supply Company $TSCO

Clearstead Advisors LLC lowered its position in Tractor Supply Company (NASDAQ:TSCO) by 35.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 42,368 shares of the specialty retailer’s stock after selling 22,970 shares during the period. Clearstead Advisors LLC’s holdings in Tractor Supply were worth $2,409,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Delos Wealth Advisors LLC bought a new position in shares of Tractor Supply in the 2nd quarter worth $26,000. Financial Gravity Companies Inc. acquired a new position in Tractor Supply during the second quarter worth $38,000. Clayton Financial Group LLC acquired a new position in Tractor Supply during the third quarter worth $44,000. First Horizon Corp bought a new position in shares of Tractor Supply in the third quarter valued at $44,000. Finally, Evelyn Partners Asset Management Ltd acquired a new position in shares of Tractor Supply during the second quarter valued at about $46,000. Institutional investors and hedge funds own 98.72% of the company’s stock.

Tractor Supply Stock Performance

Shares of Tractor Supply stock opened at $53.29 on Wednesday. The business’s fifty day simple moving average is $52.45 and its 200 day simple moving average is $55.11. The company has a current ratio of 1.34, a quick ratio of 0.16 and a debt-to-equity ratio of 0.70. Tractor Supply Company has a 12 month low of $46.85 and a 12 month high of $63.99. The firm has a market capitalization of $28.05 billion, a P/E ratio of 25.74, a price-to-earnings-growth ratio of 2.70 and a beta of 0.74.

Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Thursday, January 29th. The specialty retailer reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.03). The business had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $4.03 billion. Tractor Supply had a net margin of 7.06% and a return on equity of 44.36%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.44 earnings per share. As a group, analysts anticipate that Tractor Supply Company will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th will be paid a $0.24 dividend. The ex-dividend date is Tuesday, February 24th. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 1.8%. Tractor Supply’s dividend payout ratio is presently 46.38%.

Analysts Set New Price Targets

TSCO has been the topic of a number of analyst reports. Stephens set a $53.00 target price on shares of Tractor Supply and gave the stock an “equal weight” rating in a report on Thursday, January 22nd. UBS Group set a $55.00 price objective on Tractor Supply in a research note on Friday, January 30th. DA Davidson reissued a “buy” rating and issued a $60.00 price objective on shares of Tractor Supply in a research note on Friday, January 30th. Argus cut their target price on Tractor Supply from $67.00 to $64.00 and set a “buy” rating on the stock in a research report on Monday, February 2nd. Finally, Wolfe Research reiterated an “outperform” rating and set a $57.00 price target on shares of Tractor Supply in a report on Friday, January 30th. Fifteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $59.78.

Insider Activity

In other Tractor Supply news, EVP Jonathan S. Estep sold 59,745 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $54.03, for a total transaction of $3,228,022.35. Following the completion of the transaction, the executive vice president directly owned 80,931 shares of the company’s stock, valued at approximately $4,372,701.93. This represents a 42.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Harry A. Lawton III sold 84,670 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $53.16, for a total value of $4,501,057.20. Following the completion of the sale, the chief executive officer directly owned 606,842 shares of the company’s stock, valued at $32,259,720.72. This represents a 12.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 222,348 shares of company stock worth $11,959,621. 0.65% of the stock is owned by insiders.

About Tractor Supply

Tractor Supply Company (NASDAQ: TSCO) is a specialty retailer focused on products for the home, farm, ranch and outdoors. The company operates a network of physical retail locations complemented by an e-commerce platform, offering a one-stop source of supplies and equipment for customers with rural and suburban lifestyles. Its merchandise assortment targets a range of needs, from animal and livestock care to maintenance, outdoor power equipment, and seasonal products.

Product categories include animal feed and supplies, pet products, fencing and fencing supplies, equine equipment, lawn and garden tools, work clothing and footwear, and small agricultural and outdoor power equipment.