Dearborn Partners LLC Sells 7,591 Shares of Tractor Supply (NASDAQ:TSCO)

Dearborn Partners LLC decreased its position in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 4.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 161,008 shares of the specialty retailer's stock after selling 7,591 shares during the period. Tractor Supply accounts for 1.9% of Dearborn Partners LLC's investment portfolio, making the stock its 10th biggest holding. Dearborn Partners LLC owned approximately 0.15% of Tractor Supply worth $46,842,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TSCO. LRI Investments LLC bought a new stake in Tractor Supply during the 1st quarter worth approximately $28,000. Future Financial Wealth Managment LLC bought a new position in shares of Tractor Supply during the third quarter worth $29,000. First Personal Financial Services acquired a new stake in shares of Tractor Supply during the third quarter worth about $29,000. Whittier Trust Co. raised its holdings in Tractor Supply by 60.9% during the 2nd quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer's stock worth $30,000 after buying an additional 42 shares during the period. Finally, OFI Invest Asset Management bought a new position in Tractor Supply during the 2nd quarter worth about $33,000. 98.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TSCO has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price objective on Tractor Supply from $260.00 to $290.00 and gave the company a "neutral" rating in a report on Wednesday, October 16th. UBS Group lifted their price target on Tractor Supply from $272.00 to $280.00 and gave the stock a "neutral" rating in a report on Friday, October 25th. Evercore ISI cut Tractor Supply from an "outperform" rating to an "in-line" rating and set a $300.00 price target for the company. in a research note on Thursday, October 3rd. Wells Fargo & Company boosted their target price on shares of Tractor Supply from $295.00 to $325.00 and gave the company an "overweight" rating in a research report on Friday, October 11th. Finally, Telsey Advisory Group reiterated an "outperform" rating and issued a $335.00 target price on shares of Tractor Supply in a research report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Tractor Supply currently has a consensus rating of "Hold" and a consensus price target of $282.82.

Insiders Place Their Bets

In other news, CFO Kurt D. Barton sold 23,532 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $295.64, for a total transaction of $6,957,000.48. Following the transaction, the chief financial officer now directly owns 9,683 shares in the company, valued at approximately $2,862,682.12. This trade represents a 70.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.24% of the stock is currently owned by insiders.

Tractor Supply Stock Performance

TSCO traded down $1.75 during midday trading on Friday, reaching $275.33. The company had a trading volume of 612,723 shares, compared to its average volume of 1,052,667. The company has a quick ratio of 0.17, a current ratio of 1.48 and a debt-to-equity ratio of 0.81. The business has a 50-day moving average of $284.23 and a two-hundred day moving average of $275.32. The company has a market cap of $29.42 billion, a P/E ratio of 27.12, a P/E/G ratio of 3.50 and a beta of 0.82. Tractor Supply has a 1 year low of $193.73 and a 1 year high of $307.64.

Tractor Supply Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be paid a $1.10 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.60%. Tractor Supply's payout ratio is currently 42.80%.

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.