Tritonpoint Wealth LLC Acquires 732 Shares of Tractor Supply (NASDAQ:TSCO)

Tritonpoint Wealth LLC increased its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 7.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 11,236 shares of the specialty retailer’s stock after acquiring an additional 732 shares during the period. Tritonpoint Wealth LLC’s holdings in Tractor Supply were worth $619,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Wedmont Private Capital raised its stake in shares of Tractor Supply by 2.5% in the first quarter. Wedmont Private Capital now owns 8,714 shares of the specialty retailer’s stock valued at $450,000 after acquiring an additional 212 shares in the last quarter. Procyon Advisors LLC raised its stake in shares of Tractor Supply by 1.7% in the first quarter. Procyon Advisors LLC now owns 14,371 shares of the specialty retailer’s stock valued at $792,000 after acquiring an additional 238 shares in the last quarter. Advisory Alpha LLC raised its stake in shares of Tractor Supply by 6.2% in the first quarter. Advisory Alpha LLC now owns 4,826 shares of the specialty retailer’s stock valued at $266,000 after acquiring an additional 283 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of Tractor Supply by 21.8% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,829 shares of the specialty retailer’s stock valued at $101,000 after acquiring an additional 327 shares in the last quarter. Finally, Bennett Selby Investments LP increased its holdings in Tractor Supply by 2.3% in the first quarter. Bennett Selby Investments LP now owns 14,741 shares of the specialty retailer’s stock valued at $812,000 after buying an additional 336 shares during the last quarter. 98.72% of the stock is owned by institutional investors.

Tractor Supply Stock Performance

NASDAQ TSCO opened at $51.54 on Friday. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. Tractor Supply has a 52-week low of $46.85 and a 52-week high of $61.53. The business’s 50-day moving average price is $50.60 and its 200 day moving average price is $53.34. The firm has a market cap of $27.33 billion, a P/E ratio of 25.26, a P/E/G ratio of 2.95 and a beta of 0.74.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. The company had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.55 billion. During the same period in the prior year, the business earned $1.83 EPS. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts expect that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were given a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.92 dividend on an annualized basis and a yield of 1.79%. Tractor Supply’s payout ratio is currently 45.77%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Raymond James dropped their target price on Tractor Supply from $61.00 to $57.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Stephens assumed coverage on Tractor Supply in a report on Wednesday, April 9th. They issued an “equal weight” rating and a $56.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on Tractor Supply from $59.00 to $56.00 and set a “neutral” rating on the stock in a report on Monday, April 28th. Robert W. Baird dropped their target price on Tractor Supply from $63.00 to $56.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Finally, Telsey Advisory Group set a $60.00 target price on Tractor Supply in a report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Tractor Supply presently has an average rating of “Moderate Buy” and an average target price of $58.02.

Insider Activity at Tractor Supply

In related news, SVP Matthew L. Rubin sold 2,810 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $51.76, for a total value of $145,445.60. Following the completion of the sale, the senior vice president now owns 29,722 shares in the company, valued at $1,538,410.72. This trade represents a 8.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.65% of the stock is owned by insiders.

Tractor Supply 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.