Riverstone Advisors LLC Sells 5,044 Shares of Tractor Supply (NASDAQ:TSCO)

Riverstone Advisors LLC trimmed its position in shares of Tractor Supply (NASDAQ:TSCO) by 11.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,528 shares of the specialty retailer’s stock after selling 5,044 shares during the quarter. Tractor Supply makes up about 5.4% of Riverstone Advisors LLC’s investment portfolio, making the stock its 6th largest holding. Riverstone Advisors LLC’s holdings in Tractor Supply were worth $8,285,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new position in shares of Tractor Supply during the third quarter valued at $25,000. Compass Wealth Management LLC bought a new position in Tractor Supply during the fourth quarter worth about $25,000. Pacific Center for Financial Services acquired a new position in shares of Tractor Supply during the 1st quarter worth about $26,000. Pinnacle Bancorp Inc. bought a new stake in shares of Tractor Supply in the 4th quarter valued at about $28,000. Finally, ST Germain D J Co. Inc. acquired a new stake in shares of Tractor Supply in the 2nd quarter valued at approximately $29,000. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TSCO has been the topic of a number of research reports. Evercore ISI cut their price target on Tractor Supply from $280.00 to $275.00 and set an “outperform” rating on the stock in a report on Tuesday. Benchmark reiterated a “buy” rating and set a $256.00 target price on shares of Tractor Supply in a report on Wednesday, April 3rd. Wedbush boosted their price target on Tractor Supply from $200.00 to $235.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. Wells Fargo & Company boosted their price target on Tractor Supply from $250.00 to $285.00 and gave the stock an “overweight” rating in a research report on Monday, March 25th. Finally, Stephens downgraded Tractor Supply from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $226.00 to $240.00 in a research report on Tuesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Tractor Supply presently has a consensus rating of “Hold” and a consensus price target of $239.61.

Insider Activity at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 725 shares of Tractor Supply stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $238.09, for a total value of $172,615.25. Following the sale, the senior vice president now owns 5,710 shares of the company’s stock, valued at approximately $1,359,493.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, SVP Matthew L. Rubin sold 725 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $238.09, for a total transaction of $172,615.25. Following the transaction, the senior vice president now directly owns 5,710 shares of the company’s stock, valued at approximately $1,359,493.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jonathan S. Estep sold 7,120 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $232.26, for a total value of $1,653,691.20. Following the completion of the sale, the executive vice president now owns 13,605 shares in the company, valued at approximately $3,159,897.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,090 shares of company stock valued at $21,201,877. 0.58% of the stock is owned by corporate insiders.

Tractor Supply Stock Performance

Shares of Tractor Supply stock traded up $3.30 during mid-day trading on Tuesday, hitting $245.27. 467,492 shares of the stock were exchanged, compared to its average volume of 1,145,550. Tractor Supply has a 12 month low of $185.00 and a 12 month high of $268.02. The company has a 50-day simple moving average of $248.73 and a 200 day simple moving average of $223.66. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.28 and a current ratio of 1.50. The company has a market capitalization of $26.47 billion, a P/E ratio of 24.28, a P/E/G ratio of 3.68 and a beta of 0.84.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings results on Thursday, February 1st. The specialty retailer reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.06. The business had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.67 billion. Tractor Supply had a net margin of 7.61% and a return on equity of 53.60%. The company’s revenue was down 8.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.43 earnings per share. Sell-side analysts anticipate that Tractor Supply will post 10.19 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were given a $1.10 dividend. This is a boost from Tractor Supply’s previous quarterly dividend of $1.03. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend was Friday, February 23rd. Tractor Supply’s payout ratio is currently 43.61%.

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.