Redmond Asset Management LLC Cuts Stock Holdings in Tractor Supply (NASDAQ:TSCO)

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Redmond Asset Management LLC lowered its stake in shares of Tractor Supply (NASDAQ:TSCO) by 7.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,968 shares of the specialty retailer’s stock after selling 2,315 shares during the quarter. Tractor Supply accounts for about 1.4% of Redmond Asset Management LLC’s portfolio, making the stock its 12th largest position. Redmond Asset Management LLC’s holdings in Tractor Supply were worth $3,369,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of TSCO. BlackRock Inc. grew its stake in shares of Tractor Supply by 2.8% during the first quarter. BlackRock Inc. now owns 9,346,711 shares of the specialty retailer’s stock worth $913,734,000 after purchasing an additional 253,455 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Tractor Supply by 11.3% during the fourth quarter. Geode Capital Management LLC now owns 1,931,675 shares of the specialty retailer’s stock worth $160,949,000 after purchasing an additional 195,817 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Tractor Supply by 15.1% during the first quarter. Wells Fargo & Company MN now owns 1,641,704 shares of the specialty retailer’s stock worth $160,493,000 after purchasing an additional 215,042 shares in the last quarter. Champlain Investment Partners LLC grew its stake in shares of Tractor Supply by 3.8% during the first quarter. Champlain Investment Partners LLC now owns 1,625,875 shares of the specialty retailer’s stock worth $158,946,000 after purchasing an additional 59,500 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. grew its stake in shares of Tractor Supply by 1.2% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 1,585,135 shares of the specialty retailer’s stock worth $154,961,000 after purchasing an additional 19,325 shares in the last quarter. 81.77% of the stock is currently owned by institutional investors and hedge funds.

In other news, SVP John P. Ordus sold 10,968 shares of the stock in a transaction dated Wednesday, June 19th. The shares were sold at an average price of $104.09, for a total transaction of $1,141,659.12. Following the completion of the sale, the senior vice president now owns 21,000 shares in the company, valued at $2,185,890. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Steve K. Barbarick sold 36,108 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $104.10, for a total transaction of $3,758,842.80. Following the sale, the chief operating officer now owns 60,258 shares of the company’s stock, valued at approximately $6,272,857.80. The disclosure for this sale can be found here. Insiders have sold 64,933 shares of company stock valued at $6,865,486 in the last quarter. Insiders own 1.50% of the company’s stock.

A number of equities analysts recently commented on the stock. ValuEngine downgraded shares of Tractor Supply from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Royal Bank of Canada set a $123.00 target price on shares of Tractor Supply and gave the stock a “buy” rating in a research note on Friday, July 26th. Piper Jaffray Companies boosted their target price on shares of Tractor Supply from $114.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Morgan Stanley set a $112.00 target price on shares of Tractor Supply and gave the stock a “hold” rating in a research note on Friday, July 26th. Finally, Barclays boosted their target price on shares of Tractor Supply from $100.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $107.65.

NASDAQ TSCO traded up $0.11 during trading hours on Thursday, hitting $99.84. The company had a trading volume of 22,700 shares, compared to its average volume of 1,275,584. The company has a current ratio of 1.52, a quick ratio of 0.16 and a debt-to-equity ratio of 1.57. Tractor Supply has a 1-year low of $78.67 and a 1-year high of $114.25. The stock has a market cap of $12.23 billion, a P/E ratio of 23.23, a PEG ratio of 1.92 and a beta of 1.10. The firm has a 50 day moving average of $109.36.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, July 25th. The specialty retailer reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($0.01). Tractor Supply had a net margin of 6.71% and a return on equity of 36.12%. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the company earned $1.69 EPS. The business’s revenue was up 6.3% on a year-over-year basis. On average, sell-side analysts predict that Tractor Supply will post 4.74 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $1.40 annualized dividend and a dividend yield of 1.40%. Tractor Supply’s dividend payout ratio (DPR) is 32.48%.

Tractor Supply Profile

Tractor Supply Company operates rural lifestyle retail stores in the United States. The company offers a selection of merchandise, including equine, livestock, pet, and small animal products necessary for their health, care, growth, and containment; hardware, truck, towing, and tool products; seasonal products, such as heating products, lawn and garden items, power equipment, gifts, and toys; work/recreational clothing and footwear; and maintenance products for agricultural and rural use.

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Institutional Ownership by Quarter for Tractor Supply (NASDAQ:TSCO)

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