NorthRock Partners LLC Increases Stake in Tractor Supply (NASDAQ:TSCO)

NorthRock Partners LLC grew its position in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 724.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,982 shares of the specialty retailer's stock after buying an additional 5,256 shares during the quarter. NorthRock Partners LLC's holdings in Tractor Supply were worth $317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Tractor Supply by 392.5% during the 4th quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer's stock worth $3,397,643,000 after acquiring an additional 51,031,178 shares during the last quarter. Wellington Management Group LLP lifted its position in Tractor Supply by 401.8% during 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 purchasing an additional 19,048,385 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Tractor Supply by 403.3% during 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 purchasing an additional 17,834,643 shares during the period. Capital World Investors increased its position in Tractor Supply by 403.7% in the fourth quarter. Capital World Investors now owns 19,433,135 shares of the specialty retailer's stock worth $1,031,122,000 after buying an additional 15,575,311 shares in the last quarter. Finally, Capital International Investors raised its stake 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 worth $818,421,000 after buying an additional 11,880,010 shares during the period. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TSCO has been the subject of a number of recent research reports. Stephens assumed coverage on Tractor Supply in a research note on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 price objective for the company. Guggenheim dropped 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 report on Friday, April 25th. Raymond James decreased their price objective on shares of Tractor Supply from $61.00 to $57.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Telsey Advisory Group set a $60.00 target price on shares of Tractor Supply in a research note on Friday, April 25th. Finally, Citigroup cut 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $58.02.

Tractor Supply Price Performance

Shares of TSCO traded down $1.31 during mid-day trading on Tuesday, hitting $51.60. 4,912,277 shares of the stock were exchanged, compared to its average volume of 5,155,812. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. The company has a market cap of $27.36 billion, a PE ratio of 25.29, a price-to-earnings-growth ratio of 2.95 and a beta of 0.82. Tractor Supply has a 52-week low of $46.85 and a 52-week high of $61.53. The firm has a 50-day moving average of $51.65 and a two-hundred day moving average of $54.06.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released 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 net margin of 7.40% and a return on equity of 49.01%. The business had revenue of $3.47 billion for the quarter, compared to analysts' expectations of $3.55 billion. During the same period in the previous year, the company earned $1.83 EPS. Tractor Supply's revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities analysts predict that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply Cuts Dividend

The firm also recently announced 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. This represents a $0.92 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Wednesday, May 28th. Tractor Supply's dividend payout ratio is 45.77%.

Tractor Supply declared that its board has authorized a stock buyback 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 reacquire up to 3.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board believes its stock is undervalued.

Insider Activity at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $57.69, for a total transaction of $222,106.50. Following the sale, the senior vice president now directly owns 31,787 shares of the company's stock, valued at $1,833,792.03. The trade was a 10.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.65% of the stock is owned by 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.