ZWJ Investment Counsel Inc. Reduces Stake in Tractor Supply (NASDAQ:TSCO)

ZWJ Investment Counsel Inc. reduced its position in Tractor Supply (NASDAQ:TSCO) by 12.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 703 shares of the specialty retailer’s stock after selling 100 shares during the period. ZWJ Investment Counsel Inc.’s holdings in Tractor Supply were worth $205,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in Tractor Supply by 14.6% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 13,042 shares of the specialty retailer’s stock worth $3,794,000 after buying an additional 1,662 shares in the last quarter. Griffin Asset Management Inc. increased its position in Tractor Supply by 8.5% during the third quarter. Griffin Asset Management Inc. now owns 3,392 shares of the specialty retailer’s stock worth $987,000 after buying an additional 265 shares in the last quarter. Jamison Private Wealth Management Inc. increased its position in Tractor Supply by 16.9% during the third quarter. Jamison Private Wealth Management Inc. now owns 4,796 shares of the specialty retailer’s stock worth $1,395,000 after buying an additional 695 shares in the last quarter. Creative Planning increased its position in Tractor Supply by 2.7% during the third quarter. Creative Planning now owns 32,004 shares of the specialty retailer’s stock worth $9,311,000 after buying an additional 842 shares in the last quarter. Finally, Fiduciary Alliance LLC purchased a new position in Tractor Supply during the third quarter worth $555,000. 98.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on TSCO. JPMorgan Chase & Co. raised their price target on Tractor Supply from $260.00 to $290.00 and gave the stock a “neutral” rating in a research report on Wednesday. UBS Group upgraded Tractor Supply from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Evercore ISI cut Tractor Supply from an “outperform” rating to an “in-line” rating and set a $300.00 price objective on the stock. in a report on Thursday, October 3rd. Wells Fargo & Company raised their price objective on Tractor Supply from $295.00 to $325.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Finally, Benchmark restated a “buy” rating and set a $280.00 price objective on shares of Tractor Supply in a report on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $270.91.

Insider Activity at Tractor Supply

In related news, SVP Matthew L. Rubin sold 540 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now directly owns 5,170 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Matthew L. Rubin sold 540 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, 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 ownership of the stock. The transaction 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 23,532 shares of the company’s 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 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 ownership of the stock. The disclosure for this sale can be found here. 0.58% of the stock is owned by corporate insiders.

Tractor Supply Trading Down 1.5 %

Shares of TSCO opened at $298.32 on Friday. The stock’s 50-day moving average is $279.22 and its two-hundred day moving average is $271.66. The stock has a market cap of $32.18 billion, a PE ratio of 28.77, a P/E/G ratio of 3.81 and a beta of 0.80. Tractor Supply has a 12 month low of $185.00 and a 12 month high of $307.64. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.43 and a quick ratio of 0.25.

Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $3.93. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. The business had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same period in the previous year, the company earned $3.83 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. Equities analysts forecast that Tractor Supply will post 10.23 earnings per share for the current fiscal year.

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 1.47%. The ex-dividend date was Monday, August 26th. Tractor Supply’s dividend payout ratio is currently 42.43%.

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.