Brookstone Capital Management Sells 327 Shares of Tractor Supply (NASDAQ:TSCO)

Brookstone Capital Management lowered its holdings in Tractor Supply (NASDAQ:TSCO) by 18.0% in the third quarter, Holdings Channel reports. The firm owned 1,493 shares of the specialty retailer’s stock after selling 327 shares during the quarter. Brookstone Capital Management’s holdings in Tractor Supply were worth $434,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Threadgill Financial LLC grew its holdings in shares of Tractor Supply by 3.2% in the 3rd quarter. Threadgill Financial LLC now owns 2,951 shares of the specialty retailer’s stock valued at $859,000 after acquiring an additional 91 shares in the last quarter. McLean Asset Management Corp acquired a new position in Tractor Supply during the third quarter valued at approximately $202,000. Azzad Asset Management Inc. ADV grew its stake in Tractor Supply by 156.6% in the third quarter. Azzad Asset Management Inc. ADV now owns 3,421 shares of the specialty retailer’s stock valued at $995,000 after purchasing an additional 2,088 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Tractor Supply by 6.2% during the 3rd quarter. GAMMA Investing LLC now owns 2,226 shares of the specialty retailer’s stock worth $648,000 after purchasing an additional 130 shares during the last quarter. Finally, Czech National Bank raised its stake in shares of Tractor Supply by 7.0% during the 3rd quarter. Czech National Bank now owns 21,974 shares of the specialty retailer’s stock worth $6,393,000 after purchasing an additional 1,429 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TSCO has been the subject of several analyst reports. Melius Research initiated coverage on shares of Tractor Supply in a research note on Monday, September 23rd. They issued a “buy” rating and a $315.00 target price for the company. Loop Capital lifted their price objective on shares of Tractor Supply from $250.00 to $260.00 and gave the company a “hold” rating in a research report on Friday, September 6th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $305.00 target price on shares of Tractor Supply in a report on Thursday, July 25th. Benchmark reiterated a “buy” rating and set a $280.00 price target on shares of Tractor Supply in a report on Monday, September 30th. Finally, Truist Financial upped their price objective on Tractor Supply from $289.00 to $293.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $265.41.

Tractor Supply Stock Performance

NASDAQ TSCO opened at $303.37 on Monday. Tractor Supply has a 12-month low of $185.00 and a 12-month high of $305.99. The firm has a 50-day moving average price of $275.68 and a two-hundred day moving average price of $270.68. The company has a market capitalization of $32.72 billion, a P/E ratio of 29.25, a P/E/G ratio of 3.73 and a beta of 0.80. The company has a quick ratio of 0.25, a current ratio of 1.43 and a debt-to-equity ratio of 0.76.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 return on equity of 51.84% and a net margin of 7.65%. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.83 earnings per share. Analysts anticipate that Tractor Supply will post 10.23 earnings per share for the current year.

Tractor Supply Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend was Monday, August 26th. Tractor Supply’s dividend payout ratio (DPR) is presently 42.43%.

Insider Buying and Selling

In other Tractor Supply news, CFO Kurt D. Barton sold 23,532 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $295.64, for a total value of $6,957,000.48. Following the transaction, the chief financial officer now directly owns 9,683 shares of the company’s stock, valued at $2,862,682.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Matthew L. Rubin sold 540 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $262.35, for a total transaction of $141,669.00. Following the completion of the sale, the senior vice president now directly owns 5,170 shares in the company, valued at $1,356,349.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kurt D. Barton sold 23,532 shares of Tractor Supply stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $295.64, for a total value of $6,957,000.48. Following the completion of the transaction, the chief financial officer now owns 9,683 shares in the company, valued at approximately $2,862,682.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by company insiders.

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.