Clifford Swan Investment Counsel LLC Sells 420 Shares of Tractor Supply (NASDAQ:TSCO)

Clifford Swan Investment Counsel LLC cut its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 141,677 shares of the specialty retailer’s stock after selling 420 shares during the period. Tractor Supply accounts for 1.2% of Clifford Swan Investment Counsel LLC’s holdings, making the stock its 18th biggest holding. Clifford Swan Investment Counsel LLC’s holdings in Tractor Supply were worth $30,465,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. W.H. Cornerstone Investments Inc. bought a new stake in Tractor Supply during the fourth quarter valued at about $201,000. Sheets Smith Wealth Management boosted its holdings in shares of Tractor Supply by 0.4% in the 4th quarter. Sheets Smith Wealth Management now owns 50,088 shares of the specialty retailer’s stock valued at $10,770,000 after buying an additional 200 shares in the last quarter. Connecticut Wealth Management LLC grew its position in shares of Tractor Supply by 127.4% in the 4th quarter. Connecticut Wealth Management LLC now owns 3,579 shares of the specialty retailer’s stock worth $770,000 after buying an additional 2,005 shares during the last quarter. National Bank of Canada FI raised its stake in shares of Tractor Supply by 7.3% during the 4th quarter. National Bank of Canada FI now owns 33,917 shares of the specialty retailer’s stock worth $7,344,000 after acquiring an additional 2,303 shares in the last quarter. Finally, FourThought Financial Partners LLC raised its stake in shares of Tractor Supply by 5.4% during the 4th quarter. FourThought Financial Partners LLC now owns 10,856 shares of the specialty retailer’s stock worth $2,334,000 after acquiring an additional 555 shares in the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

Tractor Supply Stock Performance

Shares of NASDAQ TSCO traded up $3.51 during trading on Friday, reaching $270.21. 1,135,143 shares of the company traded hands, compared to its average volume of 1,174,176. Tractor Supply has a 12-month low of $185.00 and a 12-month high of $279.38. The stock has a market cap of $29.16 billion, a P/E ratio of 26.31, a PEG ratio of 3.41 and a beta of 0.82. The firm’s fifty day simple moving average is $255.80 and its 200 day simple moving average is $229.15. The company has a current ratio of 1.40, a quick ratio of 0.19 and a debt-to-equity ratio of 0.83.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.83 EPS for the quarter, beating the consensus estimate of $1.70 by $0.13. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The company had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same quarter last year, the business earned $1.65 earnings per share. The firm’s revenue was up 2.8% on a year-over-year basis. As a group, research analysts anticipate that Tractor Supply will post 10.3 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were paid a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 1.63%. The ex-dividend date was Friday, February 23rd. This is a positive change from Tractor Supply’s previous quarterly dividend of $1.03. Tractor Supply’s payout ratio is currently 42.84%.

Insider Buying and Selling

In related news, CFO Kurt D. Barton sold 4,335 shares of Tractor Supply stock in a transaction on Friday, March 15th. The shares were sold at an average price of $257.00, for a total value of $1,114,095.00. Following the sale, the chief financial officer now owns 20,678 shares of the company’s stock, valued at approximately $5,314,246. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Tractor Supply news, SVP Matthew L. Rubin sold 725 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $238.09, for a total transaction of $172,615.25. Following the completion of the sale, the senior vice president now directly owns 5,710 shares in the company, valued at approximately $1,359,493.90. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Kurt D. Barton sold 4,335 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $257.00, for a total value of $1,114,095.00. Following the transaction, the chief financial officer now directly owns 20,678 shares of the company’s stock, valued at approximately $5,314,246. The disclosure for this sale can be found here. In the last 90 days, insiders sold 90,090 shares of company stock valued at $21,201,877. 0.24% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Barclays lifted their price target on shares of Tractor Supply from $234.00 to $240.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Benchmark restated a “buy” rating and set a $256.00 target price on shares of Tractor Supply in a research note on Monday, April 22nd. Telsey Advisory Group upped their target price on Tractor Supply from $280.00 to $305.00 and gave the company an “outperform” rating in a research report on Wednesday. TD Cowen raised their price target on Tractor Supply from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Finally, Mizuho restated a “neutral” rating and set a $250.00 price target (up previously from $245.00) on shares of Tractor Supply in a research note on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $253.54.

About Tractor Supply

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.