Lorne Steinberg Wealth Management Inc. Sells 265 Shares of Tractor Supply (NASDAQ:TSCO)

Lorne Steinberg Wealth Management Inc. cut its holdings in Tractor Supply (NASDAQ:TSCO) by 1.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,850 shares of the specialty retailer’s stock after selling 265 shares during the period. Lorne Steinberg Wealth Management Inc.’s holdings in Tractor Supply were worth $4,820,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in TSCO. Wellington Management Group LLP increased its holdings in shares of Tractor Supply by 63.2% in the 4th quarter. Wellington Management Group LLP now owns 4,606,455 shares of the specialty retailer’s stock worth $990,526,000 after buying an additional 1,784,304 shares during the last quarter. Norges Bank bought a new stake in shares of Tractor Supply in the 4th quarter worth about $260,560,000. Capital World Investors lifted its position in shares of Tractor Supply by 10.0% in the 4th quarter. Capital World Investors now owns 5,849,188 shares of the specialty retailer’s stock worth $1,257,751,000 after purchasing an additional 531,170 shares during the period. Capital International Investors lifted its position in shares of Tractor Supply by 7.6% in the 4th quarter. Capital International Investors now owns 6,233,852 shares of the specialty retailer’s stock worth $1,340,589,000 after purchasing an additional 439,954 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in Tractor Supply by 12.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,330,621 shares of the specialty retailer’s stock valued at $871,691,000 after acquiring an additional 368,859 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors.

Insider Transactions at Tractor Supply

In other news, SVP Matthew L. Rubin sold 540 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $262.35, for a total value of $141,669.00. Following the transaction, the senior vice president now directly owns 5,170 shares of the company’s stock, valued at $1,356,349.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

TSCO has been the subject of a number of analyst reports. Wells Fargo & Company increased their target price on shares of Tractor Supply from $285.00 to $295.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. Morgan Stanley upped their price target on shares of Tractor Supply from $195.00 to $235.00 and gave the company an “underweight” rating in a research note on Friday, April 26th. Evercore ISI cut their price target on shares of Tractor Supply from $290.00 to $280.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Benchmark restated a “buy” rating and set a $280.00 price target on shares of Tractor Supply in a research note on Friday, July 26th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $305.00 price objective on shares of Tractor Supply in a research note on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Tractor Supply currently has a consensus rating of “Hold” and an average price target of $256.58.

Tractor Supply Price Performance

TSCO traded up $0.48 during midday trading on Friday, hitting $263.48. 1,018,762 shares of the company traded hands, compared to its average volume of 948,833. The company has a current ratio of 1.43, a quick ratio of 0.25 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $28.42 billion, a price-to-earnings ratio of 25.66, a PEG ratio of 3.29 and a beta of 0.81. Tractor Supply has a 52-week low of $185.00 and a 52-week high of $290.38. The business has a 50 day simple moving average of $268.10 and a two-hundred day simple moving average of $260.52.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $3.93. The business had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.28 billion. Tractor Supply had a net margin of 7.65% and a return on equity of 51.84%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same period last year, the firm posted $3.83 earnings per share. On average, equities analysts forecast that Tractor Supply will post 10.23 earnings per share for the current fiscal year.

Tractor Supply Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th will be paid a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend is Monday, August 26th. Tractor Supply’s dividend payout ratio is currently 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.