EXITED TRACTOR SUPPLY AT $64.49 (TSCO-US)

Tractor Supply Company is a chain of rural lifestyle retail store in the United States. The Company operates retail stores under the names Tractor Supply Company, Del's Feed & Farm Supply and Petsense. They equine, livestock, pet and small animal products; hardware, truck, towing and tool products; heating, lawn and garden items, power equipment, gifts and toys; work/recreational clothing and footwear, and maintenance products for agricultural and rural use.

JUSTIFICATION

We bought Tractor in April 2017 at $61.75. We then had to suffer through a 20% decline in the summer as the threat of retail domination by Amazon weighed on all types of retailers. We would have stayed in this company were it not for the fact that earnings estimates indicate that the next quarter will be soft and will likely lead to a decline in the Trailing Twelve Months EPS. From experience, we know that it is better to be safe than sorry.