Wealth Enhancement Advisory Services LLC Cuts Stock Holdings in Tractor Supply Company $TSCO

Wealth Enhancement Advisory Services LLC lowered its position in Tractor Supply Company (NASDAQ:TSCO) by 59.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,983 shares of the specialty retailer’s stock after selling 149,855 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Tractor Supply were worth $5,585,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Bison Wealth LLC lifted its position in shares of Tractor Supply by 356.1% during the 4th quarter. Bison Wealth LLC now owns 6,426 shares of the specialty retailer’s stock worth $341,000 after buying an additional 5,017 shares in the last quarter. Woodline Partners LP grew its holdings in shares of Tractor Supply by 40.7% in the first quarter. Woodline Partners LP now owns 45,132 shares of the specialty retailer’s stock valued at $2,487,000 after acquiring an additional 13,051 shares in the last quarter. Intech Investment Management LLC increased its position in shares of Tractor Supply by 26.9% during the first quarter. Intech Investment Management LLC now owns 26,162 shares of the specialty retailer’s stock valued at $1,442,000 after acquiring an additional 5,542 shares during the last quarter. Patton Fund Management Inc. bought a new stake in Tractor Supply during the second quarter worth $233,000. Finally, Independent Wealth Network Inc. lifted its holdings in Tractor Supply by 5.1% during the second quarter. Independent Wealth Network Inc. now owns 4,556 shares of the specialty retailer’s stock worth $240,000 after acquiring an additional 221 shares during the period. 98.72% of the stock is owned by institutional investors.

Tractor Supply Price Performance

Shares of NASDAQ:TSCO opened at $54.69 on Monday. The firm has a market capitalization of $28.90 billion, a PE ratio of 26.29, a P/E/G ratio of 2.56 and a beta of 0.74. The company has a quick ratio of 0.14, a current ratio of 1.30 and a debt-to-equity ratio of 0.69. The company has a 50-day moving average price of $52.24 and a two-hundred day moving average price of $55.79. Tractor Supply Company has a twelve month low of $46.85 and a twelve month high of $63.99.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings results on Thursday, October 23rd. The specialty retailer reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.01. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.72 billion. Tractor Supply had a net margin of 7.18% and a return on equity of 46.18%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.45 earnings per share. Equities analysts forecast that Tractor Supply Company will post 2.17 EPS for the current year.

Tractor Supply Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 9th. Shareholders of record on Monday, November 24th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Monday, November 24th. This represents a $0.92 dividend on an annualized basis and a yield of 1.7%. Tractor Supply’s payout ratio is presently 44.23%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TSCO. Truist Financial set a $55.00 price objective on Tractor Supply and gave the company a “hold” rating in a research note on Friday, January 16th. TD Cowen cut their price target on shares of Tractor Supply from $62.00 to $55.00 and set a “hold” rating on the stock in a report on Tuesday, January 20th. UBS Group set a $57.00 price objective on shares of Tractor Supply and gave the stock a “neutral” rating in a report on Friday, January 16th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $70.00 price objective on shares of Tractor Supply in a research report on Friday. Finally, Evercore ISI upgraded shares of Tractor Supply from a “hold” rating to an “outperform” rating and boosted their target price for the company from $60.00 to $65.00 in a research note on Wednesday, November 5th. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, Tractor Supply has an average rating of “Moderate Buy” and a consensus price target of $62.81.

Tractor Supply Profile

Tractor Supply Company (NASDAQ: TSCO) is a specialty retailer focused on products for the home, farm, ranch and outdoors. The company operates a network of physical retail locations complemented by an e-commerce platform, offering a one-stop source of supplies and equipment for customers with rural and suburban lifestyles. Its merchandise assortment targets a range of needs, from animal and livestock care to maintenance, outdoor power equipment, and seasonal products.

Product categories include animal feed and supplies, pet products, fencing and fencing supplies, equine equipment, lawn and garden tools, work clothing and footwear, and small agricultural and outdoor power equipment.