Cypress Asset Management Inc. TX Makes New Investment in Tractor Supply (NASDAQ:TSCO)

Cypress Asset Management Inc. TX bought a new position in shares of Tractor Supply (NASDAQ:TSCO - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 6,350 shares of the specialty retailer's stock, valued at approximately $342,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Tractor Supply by 392.5% in the fourth quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer's stock valued at $3,397,643,000 after acquiring an additional 51,031,178 shares during the period. Wellington Management Group LLP boosted its position in shares of Tractor Supply by 401.8% in the fourth quarter. Wellington Management Group LLP now owns 23,789,249 shares of the specialty retailer's stock valued at $1,262,258,000 after acquiring an additional 19,048,385 shares during the period. Alliancebernstein L.P. boosted its position in shares of Tractor Supply by 403.3% in the fourth quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer's stock valued at $1,180,932,000 after acquiring an additional 17,834,643 shares during the period. Capital World Investors boosted its position in shares of Tractor Supply by 403.7% in the fourth quarter. Capital World Investors now owns 19,433,135 shares of the specialty retailer's stock valued at $1,031,122,000 after acquiring an additional 15,575,311 shares during the period. Finally, Capital International Investors boosted its position in shares of Tractor Supply by 334.7% in the fourth quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer's stock valued at $818,421,000 after acquiring an additional 11,880,010 shares during the period. Institutional investors own 98.72% of the company's stock.

Wall Street Analysts Forecast Growth

TSCO has been the subject of a number of analyst reports. Raymond James cut 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 dropped their target price 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. Stephens assumed coverage on shares of Tractor Supply in a research note on Wednesday, April 9th. They issued an "equal weight" rating and a $56.00 price target for the company. UBS Group set a $54.00 price target on shares of Tractor Supply in a research note on Friday, April 25th. Finally, Guggenheim cut their price target on shares of Tractor Supply from $60.00 to $55.00 and set a "buy" rating for the company in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $58.02.

Tractor Supply Trading Down 2.6%

Shares of TSCO stock traded down $1.32 during mid-day trading on Wednesday, reaching $49.06. The stock had a trading volume of 5,197,252 shares, compared to its average volume of 5,150,180. The stock's 50-day moving average price is $51.40 and its two-hundred day moving average price is $53.83. Tractor Supply has a 52-week low of $46.85 and a 52-week high of $61.53. The firm has a market capitalization of $26.01 billion, a PE ratio of 24.05, a price-to-earnings-growth ratio of 2.95 and a beta of 0.82. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced 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 company had revenue of $3.47 billion for the quarter, compared to analysts' expectations of $3.55 billion. During the same quarter in the prior year, the firm earned $1.83 EPS. Tractor Supply's quarterly revenue was up 2.1% compared to the same quarter last year. Equities analysts expect that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Wednesday, May 28th. Tractor Supply's dividend payout ratio is currently 45.77%.

Tractor Supply announced that its Board of Directors has authorized a share buyback program on Thursday, February 13th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the specialty retailer to buy up to 3.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its shares are undervalued.

Insider Activity at Tractor Supply

In related news, SVP Matthew L. Rubin sold 2,810 shares of the business's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $51.76, for a total transaction of $145,445.60. Following the transaction, the senior vice president now owns 29,722 shares in the company, valued at $1,538,410.72. The trade was a 8.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.65% of the stock is owned by corporate insiders.

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.