Cresset Asset Management LLC Has $796,000 Stock Position in Tractor Supply (NASDAQ:TSCO)

Cresset Asset Management LLC raised its holdings in Tractor Supply (NASDAQ:TSCO - Free Report) by 61.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,996 shares of the specialty retailer's stock after buying an additional 5,725 shares during the quarter. Cresset Asset Management LLC's holdings in Tractor Supply were worth $796,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSCO. Coppell Advisory Solutions LLC grew its holdings in shares of Tractor Supply by 944.4% during the 4th quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer's stock worth $25,000 after purchasing an additional 425 shares in the last quarter. Smithfield Trust Co grew its holdings in shares of Tractor Supply by 286.2% during the 4th quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock worth $25,000 after purchasing an additional 352 shares in the last quarter. Future Financial Wealth Managment LLC grew its holdings in shares of Tractor Supply by 400.0% during the 4th quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 400 shares in the last quarter. Archer Investment Corp grew its holdings in shares of Tractor Supply by 400.0% during the 4th quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 400 shares in the last quarter. Finally, PrairieView Partners LLC grew its holdings in shares of Tractor Supply by 400.0% during the 4th quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer's stock worth $26,000 after purchasing an additional 400 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on TSCO shares. Citigroup cut their target price on Tractor Supply from $59.00 to $51.00 and set a "neutral" rating for the company in a research report on Friday, April 25th. Bank of America raised their target price on Tractor Supply from $44.00 to $53.00 and gave the stock an "underperform" rating in a research report on Thursday, January 16th. Telsey Advisory Group set a $60.00 target price on Tractor Supply in a research report on Friday, April 25th. UBS Group set a $54.00 target price on Tractor Supply in a research report on Friday, April 25th. Finally, Stephens started coverage on Tractor Supply in a research report on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 target price for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $58.02.

Tractor Supply Stock Performance

TSCO opened at $52.72 on Tuesday. Tractor Supply has a 52-week low of $46.85 and a 52-week high of $61.53. The firm has a market capitalization of $28.03 billion, a PE ratio of 25.84, a PEG ratio of 2.95 and a beta of 0.82. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. The business's 50-day simple moving average is $51.92 and its 200 day simple moving average is $54.12.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its 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). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. The company had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter in the previous year, the company posted $1.83 EPS. The business's revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts expect that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were paid a $0.92 dividend. This is a positive change from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 annualized dividend and a yield of 6.98%. Tractor Supply's dividend payout ratio is currently 45.77%.

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

Insider Buying and Selling at Tractor Supply

In other news, CFO Kurt D. Barton sold 12,146 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was 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 approximately $2,672,040. This trade represents a 20.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Matthew L. Rubin sold 3,850 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $57.69, for a total value of $222,106.50. Following the transaction, the senior vice president now 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 disclosure for this sale can be found here. Corporate insiders own 0.65% of the company's stock.

Tractor Supply 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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