Covenant Asset Management LLC Has $741,000 Stock Holdings in Tractor Supply (NASDAQ:TSCO)

Covenant Asset Management LLC lowered its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 3.6% during the third quarter, Holdings Channel reports. The firm owned 2,547 shares of the specialty retailer’s stock after selling 94 shares during the period. Covenant Asset Management LLC’s holdings in Tractor Supply were worth $741,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. LRI Investments LLC acquired a new stake in shares of Tractor Supply in the first quarter worth about $28,000. Future Financial Wealth Managment LLC bought a new position in shares of Tractor Supply in the 3rd quarter valued at approximately $29,000. First Personal Financial Services acquired a new stake in Tractor Supply in the 3rd quarter worth approximately $29,000. Whittier Trust Co. boosted its position in Tractor Supply by 60.9% during the second quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock worth $30,000 after purchasing an additional 42 shares during the period. Finally, OFI Invest Asset Management acquired a new position in Tractor Supply during the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 98.72% of the company’s stock.

Analyst Ratings Changes

TSCO has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price objective on shares of Tractor Supply from $295.00 to $325.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Wedbush restated a “neutral” rating and set a $270.00 price target on shares of Tractor Supply in a report on Friday, October 25th. Truist Financial lowered their price target on Tractor Supply from $325.00 to $317.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Gordon Haskett cut Tractor Supply from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, October 24th. Finally, DA Davidson increased their target price on Tractor Supply from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $282.82.

Insider Buying and Selling

In other news, CFO Kurt D. Barton sold 23,532 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now owns 9,683 shares of the company’s stock, valued at approximately $2,862,682.12. This represents a 70.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.24% of the stock is owned by corporate insiders.

Tractor Supply Stock Performance

NASDAQ TSCO opened at $273.45 on Friday. The stock has a market cap of $29.22 billion, a P/E ratio of 26.60, a PEG ratio of 3.42 and a beta of 0.82. 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 twelve month low of $197.00 and a twelve month high of $307.64. The company’s 50-day simple moving average is $284.21 and its 200 day simple moving average is $275.38.

Tractor Supply Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be issued a $1.10 dividend. The ex-dividend date is Monday, November 25th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.61%. Tractor Supply’s payout ratio is presently 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.