Graypoint LLC Invests $292,000 in Tractor Supply Company (NASDAQ:TSCO)

Graypoint LLC acquired a new position in shares of Tractor Supply Company (NASDAQ:TSCO - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 5,295 shares of the specialty retailer's stock, valued at approximately $292,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Wedmont Private Capital grew its position in shares of Tractor Supply by 2.5% during the first quarter. Wedmont Private Capital now owns 8,714 shares of the specialty retailer's stock worth $450,000 after buying an additional 212 shares in the last quarter. Creative Financial Designs Inc. ADV lifted its stake in Tractor Supply by 30.1% in the first quarter. Creative Financial Designs Inc. ADV now owns 920 shares of the specialty retailer's stock valued at $51,000 after buying an additional 213 shares during the last quarter. Procyon Advisors LLC lifted its stake in Tractor Supply by 1.7% in the first quarter. Procyon Advisors LLC now owns 14,371 shares of the specialty retailer's stock valued at $792,000 after buying an additional 238 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Tractor Supply by 5.5% in the first quarter. International Assets Investment Management LLC now owns 4,678 shares of the specialty retailer's stock valued at $258,000 after buying an additional 242 shares during the last quarter. Finally, Ballentine Partners LLC lifted its stake in Tractor Supply by 1.1% in the first quarter. Ballentine Partners LLC now owns 22,767 shares of the specialty retailer's stock valued at $1,254,000 after buying an additional 247 shares during the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TSCO shares. Mizuho cut their price target on Tractor Supply from $62.00 to $58.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Guggenheim lowered their target price on Tractor Supply from $60.00 to $55.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Wells Fargo & Company upped their target price on Tractor Supply from $60.00 to $63.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Piper Sandler lifted their price objective on Tractor Supply from $60.00 to $66.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, Wall Street Zen lowered Tractor Supply from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Tractor Supply has an average rating of "Moderate Buy" and an average price target of $57.95.

Tractor Supply Trading Down 0.4%

NASDAQ:TSCO opened at $56.58 on Friday. Tractor Supply Company has a 12-month low of $46.85 and a 12-month high of $61.53. The firm has a market capitalization of $30.00 billion, a P/E ratio of 28.09, a P/E/G ratio of 3.05 and a beta of 0.75. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.41 and a quick ratio of 0.17. The business has a 50 day simple moving average of $52.61 and a 200 day simple moving average of $53.19.

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 analysts' consensus estimates of $0.37 by ($0.03). Tractor Supply had a return on equity of 47.56% and a net margin of 7.24%. The business had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.55 billion. During the same quarter last year, the firm posted $1.83 EPS. The company's revenue was up 2.1% compared to the same quarter last year. Equities research analysts predict that Tractor Supply Company will post 2.17 EPS for the current year.

Tractor Supply Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th were issued a $0.23 dividend. The ex-dividend date was Wednesday, May 28th. This represents a $0.92 annualized dividend and a dividend yield of 1.63%. Tractor Supply's dividend payout ratio (DPR) is 45.77%.

Insider Activity

In related news, SVP Matthew L. Rubin sold 2,810 shares of Tractor Supply stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $51.76, for a total value of $145,445.60. Following the transaction, the senior vice president owned 29,722 shares of the company's stock, valued at approximately $1,538,410.72. This trade represents a 8.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jonathan S. Estep sold 35,825 shares of Tractor Supply stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $56.00, for a total value of $2,006,200.00. Following the completion of the transaction, the executive vice president directly owned 74,605 shares in the company, valued at $4,177,880. This represents a 32.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 104,445 shares of company stock worth $5,669,742 over the last 90 days. 0.65% of the stock is currently owned by company insiders.

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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