West Michigan Advisors LLC Sells 466 Shares of Tractor Supply (NASDAQ:TSCO)

West Michigan Advisors LLC trimmed its holdings in Tractor Supply (NASDAQ:TSCO) by 23.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,528 shares of the specialty retailer’s stock after selling 466 shares during the quarter. West Michigan Advisors LLC’s holdings in Tractor Supply were worth $445,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Brookstone Capital Management boosted its holdings in Tractor Supply by 20.1% in the first quarter. Brookstone Capital Management now owns 1,776 shares of the specialty retailer’s stock worth $465,000 after acquiring an additional 297 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in Tractor Supply during the 1st quarter valued at about $26,000. Wealthcare Advisory Partners LLC bought a new position in shares of Tractor Supply in the first quarter worth approximately $332,000. Hennessy Advisors Inc. purchased a new stake in shares of Tractor Supply during the first quarter valued at approximately $3,245,000. Finally, Fifth Third Wealth Advisors LLC bought a new stake in shares of Tractor Supply during the first quarter valued at approximately $257,000. 98.72% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Kurt D. Barton sold 23,532 shares of the business’s stock in a transaction dated 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 in the company, valued at $2,862,682.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Tractor Supply news, SVP Matthew L. Rubin sold 540 shares of Tractor Supply stock in a transaction on Monday, August 12th. The shares were sold at an average price of $262.35, for a total value of $141,669.00. Following the sale, the senior vice president now directly owns 5,170 shares in the company, valued at approximately $1,356,349.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kurt D. Barton sold 23,532 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $295.64, for a total transaction 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 $2,862,682.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by company insiders.

Tractor Supply Stock Down 6.1 %

TSCO stock opened at $274.29 on Friday. The business’s 50-day moving average price is $282.05 and its 200-day moving average price is $272.89. The stock has a market cap of $29.59 billion, a P/E ratio of 26.45, a PEG ratio of 3.66 and a beta of 0.80. The company has a quick ratio of 0.25, a current ratio of 1.43 and a debt-to-equity ratio of 0.76. 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 quarterly earnings results on Thursday, October 24th. The specialty retailer reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.01. The business had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.49 billion. Tractor Supply had a net margin of 7.65% and a return on equity of 51.84%. On average, equities research analysts forecast that Tractor Supply will post 10.23 EPS for the current year.

Tractor Supply Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.60%. The ex-dividend date was Monday, August 26th. Tractor Supply’s dividend payout ratio is currently 42.43%.

Wall Street Analyst Weigh In

Several brokerages have commented on TSCO. Piper Sandler increased their target price on Tractor Supply from $300.00 to $332.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Citigroup cut Tractor Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. Wedbush reissued a “neutral” rating and issued a $270.00 target price on shares of Tractor Supply in a research report on Friday, July 26th. Evercore ISI downgraded shares of Tractor Supply from an “outperform” rating to an “in-line” rating and set a $300.00 price target on the stock. in a report on Thursday, October 3rd. Finally, Wells Fargo & Company increased their price objective on shares of Tractor Supply from $295.00 to $325.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Tractor Supply currently has a consensus rating of “Moderate Buy” and a consensus target price of $272.50.

About Tractor Supply

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.