Prime Capital Investment Advisors LLC Cuts Position in Tractor Supply (NASDAQ:TSCO)

Prime Capital Investment Advisors LLC reduced its holdings in Tractor Supply (NASDAQ:TSCO) by 0.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,328 shares of the specialty retailer’s stock after selling 49 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Tractor Supply were worth $4,750,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in TSCO. Envestnet Portfolio Solutions Inc. increased its stake in Tractor Supply by 3.2% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 5,980 shares of the specialty retailer’s stock worth $1,565,000 after buying an additional 188 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Tractor Supply by 8.8% in the 1st quarter. Russell Investments Group Ltd. now owns 47,517 shares of the specialty retailer’s stock valued at $12,428,000 after purchasing an additional 3,850 shares during the last quarter. Bleakley Financial Group LLC lifted its holdings in Tractor Supply by 2.8% in the 1st quarter. Bleakley Financial Group LLC now owns 3,958 shares of the specialty retailer’s stock valued at $1,036,000 after purchasing an additional 106 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Tractor Supply by 12.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 139,012 shares of the specialty retailer’s stock worth $36,382,000 after purchasing an additional 15,127 shares during the last quarter. Finally, Angeles Wealth Management LLC grew its holdings in shares of Tractor Supply by 16.4% during the first quarter. Angeles Wealth Management LLC now owns 1,320 shares of the specialty retailer’s stock worth $345,000 after buying an additional 186 shares in the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Tractor Supply Stock Performance

Shares of Tractor Supply stock opened at $279.19 on Wednesday. The stock has a market capitalization of $29.83 billion, a price-to-earnings ratio of 27.16, a price-to-earnings-growth ratio of 3.53 and a beta of 0.82. Tractor Supply has a 12 month low of $193.73 and a 12 month high of $307.64. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.48 and a quick ratio of 0.17. The business has a 50-day moving average of $283.98 and a 200 day moving average of $275.28.

Tractor Supply Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Monday, November 25th. Tractor Supply’s payout ratio is currently 42.80%.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, CFO Kurt D. Barton sold 23,532 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total transaction of $6,957,000.48. Following the sale, the chief financial officer now owns 9,683 shares in the company, valued at $2,862,682.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.58% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TSCO shares. UBS Group raised their price target on shares of Tractor Supply from $272.00 to $280.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Citigroup cut Tractor Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. Gordon Haskett lowered Tractor Supply from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, October 24th. Truist Financial reduced their price objective on Tractor Supply from $325.00 to $317.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Finally, Barclays raised their target price on Tractor Supply from $240.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $282.82.

Tractor Supply 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.