Cornerstone Advisory LLC Purchases 7,010 Shares of Tractor Supply (NASDAQ:TSCO)

Cornerstone Advisory LLC boosted its stake in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 402.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,750 shares of the specialty retailer's stock after purchasing an additional 7,010 shares during the quarter. Cornerstone Advisory LLC's holdings in Tractor Supply were worth $500,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Coppell Advisory Solutions LLC boosted its holdings in Tractor Supply by 944.4% during the fourth quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer's stock valued at $25,000 after purchasing an additional 425 shares in the last quarter. Smithfield Trust Co increased its holdings in shares of Tractor Supply by 286.2% during the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock worth $25,000 after buying an additional 352 shares in the last quarter. Archer Investment Corp grew its position in 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 acquiring an additional 400 shares during the last quarter. PrairieView Partners LLC raised its position in Tractor Supply by 400.0% in the 4th quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer's stock valued at $26,000 after purchasing an additional 400 shares during the last quarter. Finally, Kentucky Trust Co acquired a new position in Tractor Supply in the fourth quarter worth $27,000. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Tractor Supply Stock Down 1.5%

Shares of TSCO stock traded down $0.75 during trading hours on Wednesday, reaching $49.40. The company had a trading volume of 1,320,211 shares, compared to its average volume of 5,136,003. The business has a fifty day simple moving average of $51.40 and a 200-day simple moving average of $53.83. Tractor Supply has a 12 month low of $46.85 and a 12 month high of $61.53. The company has a market cap of $26.19 billion, a price-to-earnings ratio of 24.20, a price-to-earnings-growth ratio of 2.95 and a beta of 0.82. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $3.55 billion. During the same quarter last year, the business posted $1.83 EPS. The business's quarterly revenue was up 2.1% on a year-over-year basis. On average, research analysts expect that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply announced that its Board of Directors has initiated a share repurchase program on Thursday, February 13th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the specialty retailer to purchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Tractor Supply Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th will be given a dividend of $0.23 per share. The ex-dividend date is Wednesday, May 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.86%. Tractor Supply's dividend payout ratio is presently 45.77%.

Insider Buying and Selling

In other 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 value of $145,445.60. Following the completion of the transaction, the senior vice president now directly owns 29,722 shares of the company's stock, valued at $1,538,410.72. This trade represents a 8.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.65% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TSCO. JPMorgan Chase & Co. decreased their price objective on shares of Tractor Supply from $59.00 to $56.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Wall Street Zen upgraded shares of Tractor Supply from a "sell" rating to a "hold" rating in a research report on Saturday. Raymond James decreased their price target on Tractor Supply from $61.00 to $57.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Truist Financial decreased their price objective on Tractor Supply from $63.00 to $60.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Finally, Robert W. Baird decreased their target price 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average 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.