Confluence Wealth Services Inc. Sells 50 Shares of Tractor Supply (NASDAQ:TSCO)

Confluence Wealth Services Inc. lowered its stake in Tractor Supply (NASDAQ:TSCO) by 1.7% in the 2nd quarter, Holdings Channel reports. The firm owned 2,948 shares of the specialty retailer’s stock after selling 50 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Tractor Supply were worth $796,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in TSCO. Future Financial Wealth Managment LLC bought a new stake in shares of Tractor Supply during the 1st quarter valued at about $26,000. Private Wealth Management Group LLC purchased a new position in shares of Tractor Supply during the 4th quarter valued at about $27,000. Rise Advisors LLC raised its holdings in shares of Tractor Supply by 157.1% during the 1st quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer’s stock valued at $28,000 after buying an additional 66 shares in the last quarter. LRI Investments LLC purchased a new position in shares of Tractor Supply during the 1st quarter valued at about $28,000. Finally, J.Safra Asset Management Corp raised its holdings in shares of Tractor Supply by 700.0% during the 1st quarter. J.Safra Asset Management Corp now owns 112 shares of the specialty retailer’s stock valued at $29,000 after buying an additional 98 shares in the last quarter. Institutional investors own 98.72% of the company’s stock.

Tractor Supply Trading Down 2.3 %

Shares of TSCO traded down $6.16 during mid-day trading on Friday, hitting $267.55. 1,362,464 shares of the company’s stock traded hands, compared to its average volume of 701,767. 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 has a 1 year low of $185.00 and a 1 year high of $290.38. The firm has a market capitalization of $28.84 billion, a P/E ratio of 26.05, a PEG ratio of 3.36 and a beta of 0.81. The business’s 50-day moving average price is $265.25 and its 200-day moving average price is $263.54.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share for the quarter, meeting the consensus estimate of $3.93. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. The company had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same period in the previous year, the company posted $3.83 earnings per share. The firm’s revenue was up 1.6% on a year-over-year basis. As a group, sell-side analysts forecast that Tractor Supply will post 10.23 EPS for the current fiscal year.

Tractor Supply Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 26th will be given a dividend of $1.10 per share. The ex-dividend date is Monday, August 26th. This represents a $4.40 annualized dividend and a dividend yield of 1.64%. Tractor Supply’s dividend payout ratio is presently 42.84%.

Insider Activity at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 540 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $262.35, for a total value of $141,669.00. Following the sale, the senior vice president now directly owns 5,170 shares of the company’s stock, valued at $1,356,349.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.24% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Benchmark reissued a “buy” rating and set a $280.00 price objective on shares of Tractor Supply in a report on Friday, July 26th. Wells Fargo & Company raised their price objective on Tractor Supply from $285.00 to $295.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. Telsey Advisory Group reissued an “outperform” rating and set a $305.00 price objective on shares of Tractor Supply in a report on Thursday, July 25th. Evercore ISI decreased their price objective on Tractor Supply from $290.00 to $280.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Finally, Wedbush reissued a “neutral” rating and set a $270.00 price objective on shares of Tractor Supply in a report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $256.58.

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.