Central Bank & Trust Co. Decreases Holdings in Tractor Supply (NASDAQ:TSCO)

Central Bank & Trust Co. trimmed its holdings in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 7.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 80,059 shares of the specialty retailer's stock after selling 6,622 shares during the quarter. Central Bank & Trust Co.'s holdings in Tractor Supply were worth $4,411,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. raised its position in Tractor Supply by 28.2% in the 4th quarter. Blue Trust Inc. now owns 1,646 shares of the specialty retailer's stock worth $87,000 after purchasing an additional 362 shares during the period. Retirement Systems of Alabama raised its position in Tractor Supply by 393.6% in the 4th quarter. Retirement Systems of Alabama now owns 115,659 shares of the specialty retailer's stock worth $6,137,000 after purchasing an additional 92,226 shares during the period. Yousif Capital Management LLC raised its position in Tractor Supply by 400.4% in the 4th quarter. Yousif Capital Management LLC now owns 68,586 shares of the specialty retailer's stock worth $3,639,000 after purchasing an additional 54,880 shares during the period. Stratos Wealth Advisors LLC raised its position in Tractor Supply by 426.3% in the 4th quarter. Stratos Wealth Advisors LLC now owns 8,895 shares of the specialty retailer's stock worth $472,000 after purchasing an additional 7,205 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Tractor Supply by 541.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 60,398 shares of the specialty retailer's stock worth $3,270,000 after purchasing an additional 50,981 shares during the period. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 2,810 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $51.76, for a total value of $145,445.60. Following the completion of the sale, the senior vice president now directly owns 29,722 shares in the company, valued at $1,538,410.72. This trade represents a 8.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.65% of the stock is owned by insiders.

Tractor Supply Price Performance

Shares of TSCO opened at $50.94 on Friday. The company has a market cap of $27.01 billion, a price-to-earnings ratio of 24.97, a price-to-earnings-growth ratio of 2.95 and a beta of 0.74. Tractor Supply has a twelve month low of $46.85 and a twelve month 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. The company has a 50 day moving average of $50.69 and a two-hundred day moving average of $53.51.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its earnings results on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). The firm had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.55 billion. Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. Tractor Supply's revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the business earned $1.83 earnings per share. As a group, analysts predict that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply announced that its board has approved a stock buyback program on Thursday, February 13th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the specialty retailer to purchase up to 3.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

Tractor Supply Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th will be paid a $0.23 dividend. The ex-dividend date is Wednesday, May 28th. This represents a $0.92 annualized dividend and a yield of 1.81%. Tractor Supply's dividend payout ratio (DPR) is 45.77%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TSCO shares. Wall Street Zen lowered shares of Tractor Supply from a "hold" rating to a "sell" rating in a research report on Friday. Guggenheim reduced their price objective on shares of Tractor Supply from $60.00 to $55.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Robert W. Baird reduced their target price on shares of Tractor Supply from $63.00 to $56.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. UBS Group set a $54.00 target price on shares of Tractor Supply in a research report on Friday, April 25th. Finally, Citigroup reduced their target price on shares of Tractor Supply from $59.00 to $51.00 and set a "neutral" rating on the stock in a research report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price 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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