CoreCap Advisors LLC Boosts Stock Position in Tractor Supply (NASDAQ:TSCO)

CoreCap Advisors LLC lifted its position in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 399.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,553 shares of the specialty retailer's stock after buying an additional 36,437 shares during the period. CoreCap Advisors LLC's holdings in Tractor Supply were worth $2,417,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Coppell Advisory Solutions LLC lifted its stake in shares of Tractor Supply by 944.4% in the 4th quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer's stock valued at $25,000 after acquiring an additional 425 shares during the last quarter. Smithfield Trust Co lifted its position in Tractor Supply by 286.2% in the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock valued at $25,000 after purchasing an additional 352 shares during the last quarter. Future Financial Wealth Managment LLC boosted its stake in shares of Tractor Supply by 400.0% during the fourth quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer's stock valued at $27,000 after purchasing an additional 400 shares during the period. Archer Investment Corp grew its holdings in shares of Tractor Supply by 400.0% in the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 400 shares during the last quarter. Finally, PrairieView Partners LLC increased its stake in shares of Tractor Supply by 400.0% in the fourth quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer's stock worth $26,000 after buying an additional 400 shares during the period. 98.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $57.69, for a total value of $222,106.50. Following the completion of the sale, the senior vice president now directly owns 31,787 shares in the company, valued at approximately $1,833,792.03. This trade represents a 10.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kurt D. Barton sold 12,146 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $56.00, for a total transaction of $680,176.00. Following the transaction, the chief financial officer now owns 47,715 shares in the company, valued at $2,672,040. This represents a 20.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 40,598 shares of company stock worth $2,234,481 in the last three months. Insiders own 0.65% of the company's stock.

Tractor Supply Stock Down 0.1 %

TSCO stock opened at $50.96 on Thursday. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. The business has a 50 day moving average of $52.11 and a 200 day moving average of $54.27. Tractor Supply has a twelve month low of $46.85 and a twelve month high of $61.53. The firm has a market cap of $27.09 billion, a PE ratio of 24.98, a price-to-earnings-growth ratio of 2.95 and a beta of 0.82.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.03). The company had revenue of $3.47 billion during the quarter, compared to analysts' expectations of $3.55 billion. Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. Tractor Supply's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.83 EPS. On average, research analysts forecast that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply declared that its Board of Directors has authorized a share buyback plan on Thursday, February 13th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to buy up to 3.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its shares are undervalued.

Tractor Supply Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were given a dividend of $0.92 per share. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 annualized dividend and a dividend yield of 7.22%. This is an increase from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's dividend payout ratio (DPR) is 45.77%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Robert W. Baird cut their price target on shares of Tractor Supply from $63.00 to $56.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Raymond James cut their target price on Tractor Supply from $61.00 to $57.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. JPMorgan Chase & Co. lowered their price target on Tractor Supply from $59.00 to $56.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Truist Financial cut their price objective on Tractor Supply from $63.00 to $60.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Finally, Guggenheim decreased their target price on Tractor Supply from $60.00 to $55.00 and set a "buy" rating for the company in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $58.02.

Tractor Supply Company Profile

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.

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