Congress Asset Management Co. Acquires 53,214 Shares of Tractor Supply (NASDAQ:TSCO)

Congress Asset Management Co. boosted its holdings in Tractor Supply (NASDAQ:TSCO - Free Report) by 5.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,003,882 shares of the specialty retailer's stock after buying an additional 53,214 shares during the quarter. Congress Asset Management Co. owned approximately 0.19% of Tractor Supply worth $55,314,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. FORA Capital LLC raised its holdings in Tractor Supply by 434.1% during the 4th quarter. FORA Capital LLC now owns 35,526 shares of the specialty retailer's stock worth $1,885,000 after purchasing an additional 28,875 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in Tractor Supply by 385.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,089,542 shares of the specialty retailer's stock worth $59,260,000 after purchasing an additional 865,273 shares during the last quarter. BOK Financial Private Wealth Inc. raised its holdings in Tractor Supply by 330.2% during the 4th quarter. BOK Financial Private Wealth Inc. now owns 21,355 shares of the specialty retailer's stock worth $1,133,000 after purchasing an additional 16,391 shares during the last quarter. Gen Wealth Partners Inc raised its holdings in Tractor Supply by 513.8% during the 4th quarter. Gen Wealth Partners Inc now owns 14,320 shares of the specialty retailer's stock worth $760,000 after purchasing an additional 11,987 shares during the last quarter. Finally, Blueshift Asset Management LLC raised its holdings in Tractor Supply by 571.8% during the 4th quarter. Blueshift Asset Management LLC now owns 66,815 shares of the specialty retailer's stock worth $3,545,000 after purchasing an additional 56,870 shares during the last quarter. Institutional investors own 98.72% of the company's stock.

Tractor Supply Stock Performance

NASDAQ TSCO opened at $50.94 on Friday. The company has a fifty day simple moving average of $50.69 and a 200 day simple moving average of $53.51. Tractor Supply has a 12-month low of $46.85 and a 12-month high of $61.53. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. The company has a market cap of $27.01 billion, a P/E ratio of 24.97, a PEG ratio of 2.95 and a beta of 0.74.

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). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. The business had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.55 billion. During the same period in the previous year, the business posted $1.83 EPS. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. Sell-side analysts predict that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply declared that its Board of Directors has authorized a stock repurchase 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 repurchase up to 3.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its shares are undervalued.

Tractor Supply Cuts Dividend

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

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 on Wednesday, May 14th. The stock was sold at an average price of $51.76, for a total transaction of $145,445.60. Following the transaction, the senior vice president now directly owns 29,722 shares in the company, valued at approximately $1,538,410.72. This trade represents a 8.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TSCO. Stephens began coverage on shares of Tractor Supply in a report on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 price target for the company. Wall Street Zen lowered shares of Tractor Supply from a "hold" rating to a "sell" rating in a report on Friday. Robert W. Baird lowered their price target on shares of Tractor Supply from $63.00 to $56.00 and set an "outperform" rating for the company in a report on Friday, April 25th. JPMorgan Chase & Co. lowered their price target on shares of Tractor Supply from $59.00 to $56.00 and set a "neutral" rating for the company in a report on Monday, April 28th. Finally, UBS Group set a $54.00 price target on shares of Tractor Supply in a 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $58.02.

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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