Deltec Asset Management LLC Sells 500 Shares of Tractor Supply (NASDAQ:TSCO)

Deltec Asset Management LLC lowered its position in Tractor Supply (NASDAQ:TSCO) by 12.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,400 shares of the specialty retailer’s stock after selling 500 shares during the quarter. Deltec Asset Management LLC’s holdings in Tractor Supply were worth $890,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Red Door Wealth Management LLC bought a new position in Tractor Supply during the first quarter worth about $206,000. Atticus Wealth Management LLC boosted its stake in shares of Tractor Supply by 351.0% during the 1st quarter. Atticus Wealth Management LLC now owns 451 shares of the specialty retailer’s stock worth $118,000 after acquiring an additional 351 shares during the period. Brown Miller Wealth Management LLC increased its holdings in shares of Tractor Supply by 157.8% during the 1st quarter. Brown Miller Wealth Management LLC now owns 7,695 shares of the specialty retailer’s stock worth $2,014,000 after acquiring an additional 4,710 shares during the last quarter. Home Federal Bank of Tennessee bought a new stake in Tractor Supply in the 1st quarter valued at $214,000. Finally, Romano Brothers AND Company acquired a new stake in Tractor Supply during the 1st quarter valued at $213,000. Institutional investors own 98.72% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Wedbush reiterated a “neutral” rating and issued a $235.00 price objective on shares of Tractor Supply in a report on Tuesday, April 23rd. Piper Sandler increased their price target on shares of Tractor Supply from $265.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, April 29th. Truist Financial boosted their price objective on Tractor Supply from $277.00 to $289.00 and gave the stock a “buy” rating in a report on Friday, April 26th. TD Cowen increased their target price on Tractor Supply from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, Barclays lifted their price target on Tractor Supply from $234.00 to $240.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $254.17.

Tractor Supply Price Performance

Shares of TSCO stock traded up $2.45 during trading hours on Friday, reaching $270.00. The company’s stock had a trading volume of 1,701,059 shares, compared to its average volume of 1,242,692. Tractor Supply has a fifty-two week low of $185.00 and a fifty-two week high of $290.38. The firm’s 50 day simple moving average is $274.91 and its 200-day simple moving average is $250.42. The company has a quick ratio of 0.19, a current ratio of 1.40 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $29.11 billion, a price-to-earnings ratio of 26.29, a PEG ratio of 3.51 and a beta of 0.83.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings data on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.13. The business had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.40 billion. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. Tractor Supply’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.65 EPS. Sell-side analysts forecast that Tractor Supply will post 10.34 earnings per share for the current year.

Tractor Supply Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Tuesday, May 28th were paid a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend was Friday, May 24th. Tractor Supply’s payout ratio is 42.84%.

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.