Tractor Supply (TSCO) Position Cut by Avalon Advisors LLC

Avalon Advisors LLC trimmed its stake in Tractor Supply (NASDAQ:TSCO) by 74.9% in the first quarter, HoldingsChannel.com reports. The firm owned 48,595 shares of the specialty retailer’s stock after selling 144,707 shares during the quarter. Avalon Advisors LLC’s holdings in Tractor Supply were worth $4,751,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in TSCO. State of Tennessee Treasury Department lifted its position in Tractor Supply by 35.1% during the fourth quarter. State of Tennessee Treasury Department now owns 181,833 shares of the specialty retailer’s stock valued at $15,172,000 after buying an additional 47,239 shares in the last quarter. Psagot Investment House Ltd. acquired a new position in Tractor Supply during the fourth quarter valued at approximately $35,000. First Hawaiian Bank lifted its position in Tractor Supply by 42.8% during the first quarter. First Hawaiian Bank now owns 9,187 shares of the specialty retailer’s stock valued at $898,000 after buying an additional 2,753 shares in the last quarter. Foothills Asset Management Ltd. acquired a new position in Tractor Supply during the first quarter valued at approximately $2,234,000. Finally, Millennium Management LLC lifted its position in Tractor Supply by 66.8% during the fourth quarter. Millennium Management LLC now owns 505,942 shares of the specialty retailer’s stock valued at $42,216,000 after buying an additional 202,673 shares in the last quarter. Hedge funds and other institutional investors own 82.26% of the company’s stock.

A number of research analysts have weighed in on TSCO shares. Credit Suisse Group reaffirmed a “hold” rating and set a $85.00 price target on shares of Tractor Supply in a research report on Tuesday, January 29th. BidaskClub cut shares of Tractor Supply from a “buy” rating to a “hold” rating in a research report on Saturday, January 5th. Wells Fargo & Co boosted their target price on shares of Tractor Supply from $102.00 to $108.00 and gave the stock an “outperform” rating in a research report on Thursday, February 14th. Bank of America reissued a “neutral” rating and set a $90.00 target price (down from $95.00) on shares of Tractor Supply in a research report on Wednesday, January 9th. Finally, Loop Capital boosted their target price on shares of Tractor Supply to $106.00 and gave the stock a “hold” rating in a research report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $96.44.

NASDAQ TSCO opened at $104.06 on Thursday. Tractor Supply has a 52 week low of $60.03 and a 52 week high of $106.08. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.22 and a current ratio of 1.91. The firm has a market cap of $12.60 billion, a PE ratio of 24.14, a PEG ratio of 1.96 and a beta of 1.10.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings results on Thursday, January 31st. The specialty retailer reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.02. The firm had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.10 billion. Tractor Supply had a net margin of 6.73% and a return on equity of 36.86%. As a group, equities research analysts anticipate that Tractor Supply will post 4.71 earnings per share for the current year.

In related news, COO Steve K. Barbarick sold 47,011 shares of the company’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $97.83, for a total value of $4,599,086.13. Following the sale, the chief operating officer now directly owns 108,905 shares of the company’s stock, valued at $10,654,176.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edna Morris sold 4,174 shares of the company’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $96.07, for a total transaction of $400,996.18. Following the completion of the sale, the director now directly owns 1,916 shares in the company, valued at $184,070.12. The disclosure for this sale can be found here. Insiders sold 346,369 shares of company stock worth $34,881,726 over the last ninety days. 1.50% of the stock is currently owned by corporate insiders.

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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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