Flputnam Investment Management Co. Reduces Stock Position in Tractor Supply (NASDAQ:TSCO)

Flputnam Investment Management Co. cut its holdings in Tractor Supply (NASDAQ:TSCO) by 28.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,375 shares of the specialty retailer’s stock after selling 9,113 shares during the period. Flputnam Investment Management Co.’s holdings in Tractor Supply were worth $4,811,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. OFI Invest Asset Management acquired a new position in shares of Tractor Supply in the 3rd quarter valued at $25,000. Compass Wealth Management LLC acquired a new stake in shares of Tractor Supply in the fourth quarter valued at about $25,000. Pacific Center for Financial Services purchased a new stake in shares of Tractor Supply in the first quarter valued at about $26,000. Pinnacle Bancorp Inc. purchased a new stake in shares of Tractor Supply in the fourth quarter valued at about $28,000. Finally, ST Germain D J Co. Inc. purchased a new stake in shares of Tractor Supply in the second quarter valued at about $29,000. 98.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TSCO shares. Telsey Advisory Group raised their price objective on shares of Tractor Supply from $245.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Mizuho initiated coverage on shares of Tractor Supply in a report on Tuesday, March 19th. They issued a “neutral” rating and a $245.00 target price on the stock. Wells Fargo & Company increased their price objective on shares of Tractor Supply from $250.00 to $285.00 and gave the stock an “overweight” rating in a report on Monday, March 25th. Morgan Stanley reaffirmed an “underweight” rating and issued a $195.00 price objective on shares of Tractor Supply in a research report on Tuesday, January 16th. Finally, Stephens cut Tractor Supply from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $226.00 to $240.00 in a research note on Tuesday, January 23rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Tractor Supply currently has an average rating of “Hold” and a consensus target price of $239.83.

Tractor Supply Trading Up 1.3 %

TSCO stock traded up $3.25 during midday trading on Tuesday, reaching $245.22. The stock had a trading volume of 101,168 shares, compared to its average volume of 1,141,041. The firm has a market cap of $26.47 billion, a price-to-earnings ratio of 23.98, a PEG ratio of 3.68 and a beta of 0.84. Tractor Supply has a twelve month low of $185.00 and a twelve month high of $268.02. The business has a fifty day simple moving average of $248.73 and a two-hundred day simple moving average of $223.66. The company has a quick ratio of 0.28, a current ratio of 1.50 and a debt-to-equity ratio of 0.82.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, February 1st. The specialty retailer reported $2.28 EPS for the quarter, beating the consensus estimate of $2.22 by $0.06. Tractor Supply had a return on equity of 53.60% and a net margin of 7.61%. The firm had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.67 billion. During the same quarter in the previous year, the company posted $2.43 earnings per share. The company’s quarterly revenue was down 8.6% on a year-over-year basis. As a group, research analysts expect that Tractor Supply will post 10.19 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.79%. This is an increase from Tractor Supply’s previous quarterly dividend of $1.03. The ex-dividend date was Friday, February 23rd. Tractor Supply’s dividend payout ratio (DPR) is currently 43.61%.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, CEO Harry A. Lawton III sold 20,500 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $232.93, for a total transaction of $4,775,065.00. Following the sale, the chief executive officer now directly owns 95,192 shares of the company’s stock, valued at $22,173,072.56. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Harry A. Lawton III sold 20,500 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $232.93, for a total value of $4,775,065.00. Following the completion of the sale, the chief executive officer now owns 95,192 shares in the company, valued at $22,173,072.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kurt D. Barton sold 401 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $232.06, for a total transaction of $93,056.06. Following the completion of the sale, the chief financial officer now owns 25,013 shares of the company’s stock, valued at approximately $5,804,516.78. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,090 shares of company stock worth $21,201,877. Insiders own 0.58% of the company’s stock.

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.