Suncoast Equity Management Sells 715 Shares of Tractor Supply (NASDAQ:TSCO)

Suncoast Equity Management lowered its stake in shares of Tractor Supply (NASDAQ:TSCO) by 7.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 9,404 shares of the specialty retailer’s stock after selling 715 shares during the quarter. Tractor Supply comprises approximately 0.3% of Suncoast Equity Management’s investment portfolio, making the stock its 27th largest position. Suncoast Equity Management’s holdings in Tractor Supply were worth $2,736,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Future Financial Wealth Managment LLC bought a new position in Tractor Supply during the 1st quarter worth approximately $26,000. LRI Investments LLC acquired a new position in shares of Tractor Supply in the 1st quarter valued at $28,000. J.Safra Asset Management Corp increased its position in shares of Tractor Supply by 700.0% in the 1st quarter. J.Safra Asset Management Corp now owns 112 shares of the specialty retailer’s stock valued at $29,000 after buying an additional 98 shares in the last quarter. Whittier Trust Co. increased its position in shares of Tractor Supply by 60.9% in the 2nd quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock valued at $30,000 after buying an additional 42 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new stake in Tractor Supply during the 2nd quarter worth $33,000. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Tractor Supply Stock Performance

NASDAQ:TSCO traded down $4.98 during mid-day trading on Monday, hitting $292.64. The stock had a trading volume of 162,335 shares, compared to its average volume of 1,043,064. The company’s 50 day simple moving average is $279.96 and its 200 day simple moving average is $272.03. The stock has a market cap of $31.57 billion, a price-to-earnings ratio of 28.70, a PEG ratio of 3.74 and a beta of 0.80. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.25 and a current ratio of 1.43. Tractor Supply has a twelve month low of $185.00 and a twelve month high of $307.64.

Tractor Supply (NASDAQ:TSCO) last issued its 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 the consensus estimate of $4.28 billion. During the same period in the previous year, the company posted $3.83 EPS. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, equities research analysts forecast that Tractor Supply will post 10.23 earnings per share for the current year.

Tractor Supply Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were issued a $1.10 dividend. The ex-dividend date was Monday, August 26th. This represents a $4.40 annualized dividend and a yield of 1.50%. Tractor Supply’s dividend payout ratio is currently 42.43%.

Insiders Place Their Bets

In other news, SVP Matthew L. Rubin sold 540 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $262.35, for a total transaction of $141,669.00. Following the sale, the senior vice president now directly owns 5,170 shares of the company’s stock, valued at approximately $1,356,349.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, SVP Matthew L. Rubin sold 540 shares of Tractor Supply stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $262.35, for a total transaction of $141,669.00. Following the sale, the senior vice president now directly owns 5,170 shares of the company’s stock, valued at approximately $1,356,349.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kurt D. Barton sold 23,532 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total value of $6,957,000.48. Following the transaction, the chief financial officer now directly owns 9,683 shares of the company’s stock, valued at approximately $2,862,682.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. boosted their target price on Tractor Supply from $260.00 to $290.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Melius Research initiated coverage on Tractor Supply in a research note on Monday, September 23rd. They set a “buy” rating and a $315.00 target price for the company. Robert W. Baird set a $320.00 target price on shares of Tractor Supply in a report on Thursday. Wedbush reiterated a “neutral” rating and issued a $270.00 price target on shares of Tractor Supply in a report on Friday, July 26th. Finally, Loop Capital raised their price objective on shares of Tractor Supply from $250.00 to $260.00 and gave the stock a “hold” rating in a report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $272.50.

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.