RFG Advisory LLC purchased a new position in shares of Tractor Supply (NASDAQ:TSCO - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 11,904 shares of the specialty retailer's stock, valued at approximately $656,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Smithfield Trust Co increased its position in shares of Tractor Supply by 286.2% in 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 during the last quarter. Coppell Advisory Solutions LLC increased its position 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 worth $25,000 after purchasing an additional 425 shares during the last quarter. PrairieView Partners LLC increased its position in shares of Tractor Supply by 400.0% in 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 during the last quarter. Archer Investment Corp increased its position in shares of Tractor Supply by 400.0% in 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 during the last quarter. Finally, Kentucky Trust Co bought a new stake in shares of Tractor Supply in the 4th quarter worth about $27,000. Hedge funds and other institutional investors own 98.72% of the company's stock.
Insider Transactions at Tractor Supply
In related news, SVP Matthew L. Rubin sold 2,810 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $51.76, for a total transaction of $145,445.60. Following the completion of the sale, the senior vice president now directly owns 29,722 shares of the company's stock, valued at $1,538,410.72. This represents a 8.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.65% of the company's stock.
Analyst Ratings Changes
TSCO has been the subject of several research analyst reports. Wall Street Zen downgraded shares of Tractor Supply from a "hold" rating to a "sell" rating in a research report on Friday. JPMorgan Chase & Co. lowered their price objective on shares of Tractor Supply from $59.00 to $56.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Raymond James lowered their price objective on shares of Tractor Supply from $61.00 to $57.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Mizuho lowered their price objective on shares of Tractor Supply from $62.00 to $58.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Finally, Robert W. Baird lowered their price objective on shares of Tractor Supply from $63.00 to $56.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $58.02.
Get Our Latest Research Report on Tractor Supply
Tractor Supply Trading Down 1.0%
Tractor Supply stock opened at $50.94 on Friday. The firm has a 50-day moving average price of $50.69 and a two-hundred day moving average price of $53.51. The firm has a market capitalization of $27.01 billion, a price-to-earnings ratio of 24.97, a PEG ratio of 2.95 and a beta of 0.74. Tractor Supply has a 52-week low of $46.85 and a 52-week high of $61.53. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82.
Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.37 by ($0.03). The company had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.55 billion. Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. The company's revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.83 earnings per share. Sell-side analysts expect that Tractor Supply will post 2.17 earnings per share for the current year.
Tractor Supply announced that its board has approved a stock repurchase plan on Thursday, February 13th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the specialty retailer to purchase up to 3.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board of directors believes its shares are undervalued.
Tractor Supply Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date is Wednesday, May 28th. Tractor Supply's dividend payout ratio is currently 45.77%.
About Tractor Supply
(
Free Report)
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.
Further Reading
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