Lorne Steinberg Wealth Management Inc. Sells 355 Shares of Tractor Supply (NASDAQ:TSCO)

Lorne Steinberg Wealth Management Inc. decreased its holdings in Tractor Supply (NASDAQ:TSCO) by 1.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,155 shares of the specialty retailer’s stock after selling 355 shares during the quarter. Lorne Steinberg Wealth Management Inc.’s holdings in Tractor Supply were worth $3,904,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. OFI Invest Asset Management bought a new position in Tractor Supply in the third quarter valued at about $25,000. Pinnacle Bancorp Inc. bought a new stake in Tractor Supply during the 4th quarter worth $28,000. VisionPoint Advisory Group LLC grew its position in Tractor Supply by 105.6% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 148 shares of the specialty retailer’s stock worth $30,000 after acquiring an additional 76 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Tractor Supply in the 3rd quarter worth about $33,000. Finally, Cetera Trust Company N.A bought a new position in Tractor Supply in the fourth quarter valued at about $38,000. Institutional investors and hedge funds own 98.72% of the company’s stock.

Tractor Supply Stock Performance

NASDAQ:TSCO traded up $1.18 on Wednesday, reaching $257.14. 495,313 shares of the company’s stock were exchanged, compared to its average volume of 1,141,601. The firm has a market cap of $27.75 billion, a price-to-earnings ratio of 25.37, a P/E/G ratio of 3.81 and a beta of 0.84. Tractor Supply has a 52 week low of $185.00 and a 52 week high of $268.02. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.50 and a quick ratio of 0.28. The stock has a fifty day simple moving average of $250.69 and a 200-day simple moving average of $225.60.

Tractor Supply (NASDAQ:TSCO) last posted 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. Tractor Supply had a net margin of 7.61% and a return on equity of 53.60%. The business had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same quarter in the prior year, the firm posted $2.43 EPS. Tractor Supply’s revenue was down 8.6% on a year-over-year basis. As a group, sell-side analysts predict that Tractor Supply will post 10.2 earnings per share for the current year.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were issued a $1.10 dividend. The ex-dividend date was Friday, February 23rd. This represents a $4.40 annualized dividend and a dividend yield of 1.71%. This is a boost from Tractor Supply’s previous quarterly dividend of $1.03. Tractor Supply’s dividend payout ratio (DPR) is presently 43.61%.

Insider Transactions at Tractor Supply

In other news, CEO Harry A. Lawton III sold 20,500 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $232.93, for a total value of $4,775,065.00. Following the transaction, the chief executive officer now owns 95,192 shares of the company’s stock, valued at approximately $22,173,072.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 stock was sold at an average price of $232.93, for a total value of $4,775,065.00. Following the completion of the transaction, the chief executive officer now directly owns 95,192 shares in the company, valued at approximately $22,173,072.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jonathan S. Estep sold 7,120 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $232.26, for a total value of $1,653,691.20. Following the transaction, the executive vice president now directly owns 13,605 shares in the company, valued at $3,159,897.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 90,090 shares of company stock valued at $21,201,877. 0.58% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

TSCO has been the subject of several analyst reports. Barclays raised their price target on shares of Tractor Supply from $192.00 to $234.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th. UBS Group lifted their price objective on Tractor Supply from $220.00 to $240.00 and gave the stock a “neutral” rating in a research note on Friday, February 2nd. Telsey Advisory Group increased their target price on shares of Tractor Supply from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. Wedbush restated a “neutral” rating and issued a $235.00 price target on shares of Tractor Supply in a research report on Tuesday. Finally, Evercore ISI decreased their price objective on shares of Tractor Supply from $280.00 to $275.00 and set an “outperform” rating for the company in a research report on Tuesday, April 16th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $241.65.

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.