Tractor Supply (NASDAQ:TSCO) Shares Sold by Fort Pitt Capital Group LLC

Fort Pitt Capital Group LLC lowered its position in Tractor Supply (NASDAQ:TSCO) by 32.5% during the third quarter, Holdings Channel.com reports. The fund owned 47,581 shares of the specialty retailer’s stock after selling 22,944 shares during the quarter. Fort Pitt Capital Group LLC’s holdings in Tractor Supply were worth $13,843,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Argonautica Private Wealth Management Inc. boosted its holdings in Tractor Supply by 1.2% in the third quarter. Argonautica Private Wealth Management Inc. now owns 9,328 shares of the specialty retailer’s stock valued at $2,714,000 after acquiring an additional 112 shares during the last quarter. Silvant Capital Management LLC boosted its holdings in Tractor Supply by 20.9% in the third quarter. Silvant Capital Management LLC now owns 14,781 shares of the specialty retailer’s stock valued at $4,300,000 after acquiring an additional 2,556 shares during the last quarter. Stephens Inc. AR boosted its holdings in Tractor Supply by 7.4% in the third quarter. Stephens Inc. AR now owns 33,750 shares of the specialty retailer’s stock valued at $9,819,000 after acquiring an additional 2,323 shares during the last quarter. Lincluden Management Ltd. boosted its holdings in Tractor Supply by 1.3% in the third quarter. Lincluden Management Ltd. now owns 12,526 shares of the specialty retailer’s stock valued at $3,644,000 after acquiring an additional 164 shares during the last quarter. Finally, Stephens Investment Management Group LLC boosted its holdings in Tractor Supply by 1.5% in the third quarter. Stephens Investment Management Group LLC now owns 155,988 shares of the specialty retailer’s stock valued at $45,382,000 after acquiring an additional 2,376 shares during the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Tractor Supply Stock Up 0.4 %

Shares of Tractor Supply stock opened at $266.57 on Friday. The company has a quick ratio of 0.17, a current ratio of 1.48 and a debt-to-equity ratio of 0.81. The firm has a market cap of $28.75 billion, a P/E ratio of 25.93, a P/E/G ratio of 3.33 and a beta of 0.82. Tractor Supply has a fifty-two week low of $191.38 and a fifty-two week high of $307.64. The business has a 50-day moving average price of $282.42 and a 200 day moving average price of $273.71.

Tractor Supply Dividend Announcement

The company also recently disclosed 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 1.65%. The ex-dividend date was Monday, August 26th. Tractor Supply’s dividend payout ratio is currently 42.80%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Wells Fargo & Company raised their price objective on Tractor Supply from $295.00 to $325.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. JPMorgan Chase & Co. raised their price objective on Tractor Supply from $260.00 to $290.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Melius Research assumed coverage on Tractor Supply in a research report on Monday, September 23rd. They issued a “buy” rating and a $315.00 price objective on the stock. Robert W. Baird set a $320.00 price objective on Tractor Supply in a research report on Thursday, October 17th. Finally, Evercore ISI lowered Tractor Supply from an “outperform” rating to an “in-line” rating and set a $300.00 price objective on the stock. in a research report on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tractor Supply currently has a consensus rating of “Hold” and a consensus price target of $282.82.

Insider Activity at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 540 shares of Tractor Supply stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $262.35, for a total value of $141,669.00. Following the completion of the transaction, the senior vice president now directly owns 5,170 shares in the company, valued at $1,356,349.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Tractor Supply news, SVP Matthew L. Rubin sold 540 shares of Tractor Supply stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $262.35, for a total value of $141,669.00. Following the completion of the transaction, the senior vice president now directly owns 5,170 shares in the company, valued at $1,356,349.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kurt D. Barton sold 23,532 shares of Tractor Supply stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $295.64, for a total value of $6,957,000.48. Following the completion of the transaction, the chief financial officer now owns 9,683 shares of the company’s stock, valued at approximately $2,862,682.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is owned by corporate 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.