Kingsview Wealth Management LLC Decreases Holdings in Tractor Supply (NASDAQ:TSCO)

Kingsview Wealth Management LLC lessened its stake in shares of Tractor Supply (NASDAQ:TSCO) by 14.4% in the 3rd quarter, Holdings Channel reports. The firm owned 8,490 shares of the specialty retailer’s stock after selling 1,428 shares during the period. Kingsview Wealth Management LLC’s holdings in Tractor Supply were worth $2,470,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Henrickson Nauta Wealth Advisors Inc. increased its position in shares of Tractor Supply by 3.2% during the third quarter. Henrickson Nauta Wealth Advisors Inc. now owns 1,127 shares of the specialty retailer’s stock worth $328,000 after purchasing an additional 35 shares in the last quarter. Private Advisor Group LLC grew its holdings in shares of Tractor Supply by 0.5% during the third quarter. Private Advisor Group LLC now owns 7,693 shares of the specialty retailer’s stock worth $2,238,000 after buying an additional 37 shares in the last quarter. Signature Wealth Management Group grew its holdings in shares of Tractor Supply by 0.5% during the second quarter. Signature Wealth Management Group now owns 6,999 shares of the specialty retailer’s stock worth $1,890,000 after buying an additional 38 shares in the last quarter. X Square Capital LLC raised its position in shares of Tractor Supply by 1.6% in the second quarter. X Square Capital LLC now owns 2,579 shares of the specialty retailer’s stock valued at $696,000 after buying an additional 41 shares during the last quarter. Finally, TCI Wealth Advisors Inc. lifted its stake in shares of Tractor Supply by 5.1% in the third quarter. TCI Wealth Advisors Inc. now owns 846 shares of the specialty retailer’s stock worth $246,000 after buying an additional 41 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Insider Activity

In other Tractor Supply news, CFO Kurt D. Barton sold 23,532 shares of Tractor Supply stock in a transaction on 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 in the company, valued at approximately $2,862,682.12. The trade was a 70.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.58% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on TSCO shares. Gordon Haskett downgraded shares of Tractor Supply from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, October 24th. Mizuho increased their price target on Tractor Supply from $250.00 to $270.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Raymond James boosted their price objective on Tractor Supply from $285.00 to $290.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. raised their target price on Tractor Supply from $260.00 to $290.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Finally, Citigroup cut shares of Tractor Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Tractor Supply presently has an average rating of “Moderate Buy” and an average price target of $282.82.

Tractor Supply Stock Performance

Shares of Tractor Supply stock opened at $281.71 on Monday. The company has a quick ratio of 0.17, a current ratio of 1.48 and a debt-to-equity ratio of 0.81. Tractor Supply has a 52 week low of $197.00 and a 52 week high of $307.64. The firm’s 50 day moving average is $284.18 and its two-hundred day moving average is $275.57. The firm has a market capitalization of $30.10 billion, a P/E ratio of 27.40, a P/E/G ratio of 3.53 and a beta of 0.82.

Tractor Supply Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Monday, November 25th. Tractor Supply’s dividend payout ratio (DPR) is currently 42.80%.

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.