Cetera Investment Advisers Buys 12,306 Shares of Tractor Supply Company (NASDAQ:TSCO)

Key Points

• Cetera Investment Advisers has increased its stake in Tractor Supply Company by 7.8%, acquiring an additional 12,306 shares, bringing its total holdings to 170,220 shares valued at approximately $9.38 million.
• Insider transactions show significant sales, with CFO Kurt D. Barton selling 90,000 shares, representing a 65.35% decrease in their position, while other executives also reduced their stakes.
• Tractor Supply reported earnings of $0.81 per share in its latest quarter, surpassing expectations, and announced a dividend yield of 1.6% following a recent payout.

Cetera Investment Advisers raised its stake in shares of Tractor Supply Company (NASDAQ:TSCO - Free Report) by 7.8% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 170,220 shares of the specialty retailer's stock after purchasing an additional 12,306 shares during the period. Cetera Investment Advisers' holdings in Tractor Supply were worth $9,379,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FORA Capital LLC boosted its holdings in Tractor Supply by 434.1% in the 4th quarter. FORA Capital LLC now owns 35,526 shares of the specialty retailer's stock worth $1,885,000 after buying an additional 28,875 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Tractor Supply by 7.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 70,944 shares of the specialty retailer's stock worth $3,911,000 after acquiring an additional 5,184 shares during the period. Sowell Financial Services LLC boosted its stake in shares of Tractor Supply by 49.3% in the first quarter. Sowell Financial Services LLC now owns 20,029 shares of the specialty retailer's stock worth $1,104,000 after acquiring an additional 6,612 shares during the period. Sequoia Financial Advisors LLC grew its position in shares of Tractor Supply by 9.2% during the first quarter. Sequoia Financial Advisors LLC now owns 112,233 shares of the specialty retailer's stock worth $6,184,000 after purchasing an additional 9,483 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Tractor Supply by 27.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 319,132 shares of the specialty retailer's stock valued at $17,584,000 after purchasing an additional 68,487 shares during the period. Hedge funds and other institutional investors own 98.72% of the company's stock.

Insiders Place Their Bets

In related news, CFO Kurt D. Barton sold 90,000 shares of the firm's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $63.96, for a total transaction of $5,756,400.00. Following the completion of the sale, the chief financial officer directly owned 47,715 shares of the company's stock, valued at approximately $3,051,851.40. This trade represents a 65.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jonathan S. Estep sold 35,825 shares of the business's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $56.00, for a total value of $2,006,200.00. Following the transaction, the executive vice president owned 74,605 shares of the company's stock, valued at approximately $4,177,880. The trade was a 32.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 207,490 shares of company stock valued at $12,216,998 over the last quarter. Corporate insiders own 0.65% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on TSCO. Citigroup dropped their price target on Tractor Supply from $59.00 to $51.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Wall Street Zen raised shares of Tractor Supply from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Wells Fargo & Company raised their target price on shares of Tractor Supply from $63.00 to $65.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Raymond James Financial reiterated an "outperform" rating and issued a $65.00 price target (up from $57.00) on shares of Tractor Supply in a report on Friday, July 25th. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of Tractor Supply in a report on Friday, July 25th. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Tractor Supply has an average rating of "Moderate Buy" and a consensus target price of $61.80.

Tractor Supply Stock Performance

NASDAQ:TSCO opened at $56.95 on Friday. The firm has a market capitalization of $30.19 billion, a PE ratio of 27.94, a PEG ratio of 2.97 and a beta of 0.75. The stock's fifty day moving average is $53.82 and its 200 day moving average is $53.49. Tractor Supply Company has a fifty-two week low of $46.85 and a fifty-two week high of $63.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 1.28.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The specialty retailer reported $0.81 earnings per share for the quarter, beating analysts' consensus estimates of $0.80 by $0.01. The business had revenue of $4.44 billion for the quarter, compared to analysts' expectations of $4.40 billion. Tractor Supply had a net margin of 7.18% and a return on equity of 46.83%. The business's revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.93 earnings per share. On average, sell-side analysts anticipate that Tractor Supply Company will post 2.17 earnings per share for the current year.

Tractor Supply Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were paid a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.92 annualized dividend and a yield of 1.6%. Tractor Supply's dividend payout ratio (DPR) is presently 45.10%.

About Tractor Supply

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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