Renaissance Investment Group Lowers stake in Tractor Supply Company (TSCO)

Tractor Supply Company (TSCO) : Renaissance Investment Group reduced its stake in Tractor Supply Company by 29.46% during the most recent quarter end. The investment management company now holds a total of 29,454 shares of Tractor Supply Company which is valued at $1,984,611 after selling 12,302 shares in Tractor Supply Company , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.Tractor Supply Company makes up approximately 0.97% of Renaissance Investment Group’s portfolio.

Other Hedge Funds, Including , Alta Capital Management boosted its stake in TSCO in the latest quarter, The investment management firm added 2,460 additional shares and now holds a total of 171,316 shares of Tractor Supply Company which is valued at $11,543,272. Tractor Supply Company makes up approx 0.73% of Alta Capital Management’s portfolio. Contravisory Investment Management added TSCO to its portfolio by purchasing 221 company shares during the most recent quarter which is valued at $15,141.Exxonmobil Investment Management Inc Tx reduced its stake in TSCO by selling 409 shares or 1.18% in the most recent quarter. The Hedge Fund company now holds 34,129 shares of TSCO which is valued at $2,316,677. Tractor Supply Company makes up approx 0.05% of Exxonmobil Investment Management Inc Tx’s portfolio.Washington Trust Bank reduced its stake in TSCO by selling 45 shares or 63.38% in the most recent quarter. The Hedge Fund company now holds 26 shares of TSCO which is valued at $1,748.

Tractor Supply Company closed down -0.25 points or -0.36% at $68.26 with 21,65,811 shares getting traded on Tuesday. Post opening the session at $68.19, the shares hit an intraday low of $67.795 and an intraday high of $68.78 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Tractor Supply Company reported $1.16 EPS for the quarter, based on the information available during the earnings call on Jul 20, 2016. Analyst had a consensus estimate of $1.16. The company had revenue of $1850.00 million for the quarter, compared to analysts expectations of $1851.88 million. The company’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.12 EPS.

Many Wall Street Analysts have commented on Tractor Supply Company. Shares were Downgraded by Wedbush on Sep 8, 2016 to ” Neutral” and Lowered the Price Target to $ 72 from a previous price target of $96 .Shares were Reiterated by UBS on Sep 8, 2016 to “Buy” and Lowered the Price Target to $ 88 from a previous price target of $102 .Tractor Supply Company was Downgraded by Piper Jaffray to ” Neutral” on Sep 8, 2016.

Tractor Supply Company is an operator of rural lifestyle retail stores in the United States. The Company focuses on supplying the lifestyle needs of recreational farmers and ranchers as well as tradesmen and small businesses. As of December 27 2014 it operated 1382 retail stores in 49 states under the names Tractor Supply Company Del’s Feed & Farm Supply and HomeTown Pet. It also operates a Website under the name TractorSupply.com. It offers a portfolio of products which include equine livestock pet and small animal products; hardware truck towing and tool products; seasonal products including lawn and garden items power equipment gifts and toys; work/recreational clothing and footwear and maintenance products for agricultural and rural use. Its products are offered under various brands which include 4health Blue Mountain Countyline Equistages Groundwork Huskee JobSmart Dumor C.E. Schmidt Paws & Claws Producer’s Pride and Redstone among others.

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