Penobscot Investment Management Company Inc. Sells 1,830 Shares of Tractor Supply (NASDAQ:TSCO)

Penobscot Investment Management Company Inc. trimmed its position in Tractor Supply (NASDAQ:TSCO) by 19.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 7,368 shares of the specialty retailer’s stock after selling 1,830 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Tractor Supply were worth $1,584,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. WCM Investment Management LLC bought a new stake in shares of Tractor Supply during the fourth quarter worth $782,000. LPL Financial LLC grew its stake in shares of Tractor Supply by 4.6% during the third quarter. LPL Financial LLC now owns 113,873 shares of the specialty retailer’s stock worth $23,122,000 after buying an additional 5,014 shares during the last quarter. Impax Asset Management Group plc grew its stake in shares of Tractor Supply by 2,120.1% during the fourth quarter. Impax Asset Management Group plc now owns 121,817 shares of the specialty retailer’s stock worth $26,194,000 after buying an additional 116,330 shares during the last quarter. Simon Quick Advisors LLC grew its stake in shares of Tractor Supply by 21.1% during the third quarter. Simon Quick Advisors LLC now owns 1,551 shares of the specialty retailer’s stock worth $315,000 after buying an additional 270 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of Tractor Supply by 32,987.5% during the fourth quarter. International Assets Investment Management LLC now owns 270,325 shares of the specialty retailer’s stock worth $58,128,000 after buying an additional 269,508 shares during the last quarter. 98.72% of the stock is owned by institutional investors.

Tractor Supply Price Performance

Shares of NASDAQ TSCO opened at $273.08 on Wednesday. The firm’s 50-day moving average price is $253.27 and its 200-day moving average price is $227.47. Tractor Supply has a 1-year low of $185.00 and a 1-year high of $279.38. The firm has a market capitalization of $29.47 billion, a P/E ratio of 26.59, a P/E/G ratio of 3.51 and a beta of 0.84. The company has a current ratio of 1.40, a quick ratio of 0.19 and a debt-to-equity ratio 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, beating the consensus estimate of $1.70 by $0.13. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The firm had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same quarter in the prior year, the business earned $1.65 earnings per share. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. Equities research analysts anticipate that Tractor Supply will post 10.3 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were issued a dividend of $1.10 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $4.40 annualized dividend and a dividend yield of 1.61%. This is a positive change from Tractor Supply’s previous quarterly dividend of $1.03. Tractor Supply’s dividend payout ratio is currently 42.84%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TSCO shares. Guggenheim lifted their price target on shares of Tractor Supply from $210.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Stephens lowered shares of Tractor Supply from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $226.00 to $240.00 in a report on Tuesday, January 23rd. Mizuho reiterated a “neutral” rating and set a $250.00 price target (up previously from $245.00) on shares of Tractor Supply in a report on Friday, April 26th. Raymond James lifted their price target on shares of Tractor Supply from $250.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Finally, Barclays lifted their price target on shares of Tractor Supply from $234.00 to $240.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Tractor Supply presently has a consensus rating of “Hold” and an average target price of $250.00.

Insider Activity

In other news, CEO Harry A. Lawton III sold 20,500 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $232.93, for a total transaction of $4,775,065.00. Following the transaction, the chief executive officer now owns 95,192 shares in the company, valued at $22,173,072.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Harry A. Lawton III sold 20,500 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $232.93, for a total transaction of $4,775,065.00. Following the completion of the sale, the chief executive officer now directly owns 95,192 shares of the company’s stock, valued at $22,173,072.56. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Kurt D. Barton sold 401 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $232.06, for a total transaction of $93,056.06. Following the sale, the chief financial officer now directly owns 25,013 shares of the company’s stock, valued at $5,804,516.78. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,090 shares of company stock worth $21,201,877. Company insiders own 0.58% of the company’s stock.

Tractor Supply Company Profile

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.