Randy and Terri Roark said the theft happened Friday night in the parking lot of the Locust Grove Walmart.
The Roarks are from the Chattanooga, Tennessee, area, and came to the area to participate in the Georgia high school rodeo competition in Perry, the Southeastern Showdown.
The horses belong to their two children, ages 12 and 9.
Authorities tell Channel 2's Tony Thomas that they fear the thieves will dump the horses some place and the animals will starve or become dehydrated.
The truck was last tracked on an iPhone app to Georgia State University Campus in Decatur, but then the phone was dumped.
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