Brown Miller Wealth Management LLC Cuts Stock Position in Tractor Supply (NASDAQ:TSCO)

Brown Miller Wealth Management LLC lowered its position in Tractor Supply (NASDAQ:TSCO) by 63.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,985 shares of the specialty retailer’s stock after selling 5,099 shares during the period. Brown Miller Wealth Management LLC’s holdings in Tractor Supply were worth $642,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Tractor Supply by 17.6% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 327 shares of the specialty retailer’s stock worth $72,000 after purchasing an additional 49 shares during the last quarter. Heartland Bank & Trust Co increased its holdings in Tractor Supply by 1.7% during the 3rd quarter. Heartland Bank & Trust Co now owns 3,038 shares of the specialty retailer’s stock valued at $617,000 after purchasing an additional 52 shares during the period. Allen Capital Group LLC raised its position in Tractor Supply by 0.6% during the 3rd quarter. Allen Capital Group LLC now owns 8,869 shares of the specialty retailer’s stock valued at $1,805,000 after purchasing an additional 53 shares during the last quarter. Scotia Capital Inc. grew its position in shares of Tractor Supply by 2.5% in the 3rd quarter. Scotia Capital Inc. now owns 2,177 shares of the specialty retailer’s stock worth $442,000 after buying an additional 54 shares during the last quarter. Finally, Taylor Frigon Capital Management LLC increased its stake in shares of Tractor Supply by 0.8% during the third quarter. Taylor Frigon Capital Management LLC now owns 6,762 shares of the specialty retailer’s stock valued at $1,373,000 after buying an additional 55 shares during the period. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Price Performance

TSCO traded up $1.28 on Thursday, hitting $261.72. 646,949 shares of the company’s stock traded hands, compared to its average volume of 1,192,081. Tractor Supply has a one year low of $185.00 and a one year high of $268.02. The company has a current ratio of 1.50, a quick ratio of 0.28 and a debt-to-equity ratio of 0.82. The firm has a market cap of $28.24 billion, a price-to-earnings ratio of 25.94, a P/E/G ratio of 3.88 and a beta of 0.84. The company’s 50 day simple moving average is $243.18 and its 200-day simple moving average is $219.89.

Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Thursday, February 1st. The specialty retailer reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.06. The firm had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.67 billion. Tractor Supply had a net margin of 7.61% and a return on equity of 53.60%. Tractor Supply’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.43 earnings per share. As a group, research analysts anticipate that Tractor Supply will post 10.19 EPS for the current year.

Tractor Supply Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were issued a $1.10 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This is a positive change from Tractor Supply’s previous quarterly dividend of $1.03. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.68%. Tractor Supply’s dividend payout ratio (DPR) is 43.61%.

Analysts Set New Price Targets

A number of research analysts have issued reports on TSCO shares. Wedbush boosted their price objective on shares of Tractor Supply from $200.00 to $235.00 and gave the company a “neutral” rating in a research report on Friday, February 2nd. Evercore ISI raised their price objective on shares of Tractor Supply from $270.00 to $280.00 and gave the stock an “outperform” rating in a report on Tuesday. Morgan Stanley reiterated an “underweight” rating and set a $195.00 target price on shares of Tractor Supply in a report on Tuesday, January 16th. Mizuho started coverage on Tractor Supply in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $245.00 price target on the stock. Finally, Truist Financial lifted their price objective on Tractor Supply from $230.00 to $256.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Tractor Supply presently has a consensus rating of “Hold” and a consensus price target of $238.91.

Insider Activity at Tractor Supply

In related news, EVP Robert D. Mills sold 48,334 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $232.23, for a total value of $11,224,604.82. Following the completion of the transaction, the executive vice president now owns 22,167 shares of the company’s stock, valued at approximately $5,147,842.41. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Robert D. Mills sold 48,334 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $232.23, for a total value of $11,224,604.82. Following the sale, the executive vice president now directly owns 22,167 shares of the company’s stock, valued at approximately $5,147,842.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kurt D. Barton sold 4,335 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $257.00, for a total value of $1,114,095.00. Following the transaction, the chief financial officer now owns 20,678 shares of the company’s stock, valued at approximately $5,314,246. The disclosure for this sale can be found here. Insiders have sold a total of 90,090 shares of company stock valued at $21,201,877 over the last 90 days. 0.24% of the stock is owned by corporate insiders.

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.