Pacific Point Advisors LLC Takes Position in Tractor Supply (NASDAQ:TSCO)

Pacific Point Advisors LLC acquired a new stake in Tractor Supply (NASDAQ:TSCO - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 23,413 shares of the specialty retailer's stock, valued at approximately $1,265,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Smithfield Trust Co lifted 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 purchasing an additional 352 shares during the period. Blue Trust Inc. grew its stake in shares of Tractor Supply by 28.2% during the 4th quarter. Blue Trust Inc. now owns 1,646 shares of the specialty retailer's stock valued at $87,000 after buying an additional 362 shares during the period. Dunhill Financial LLC raised its holdings in Tractor Supply by 325.8% in the fourth quarter. Dunhill Financial LLC now owns 511 shares of the specialty retailer's stock valued at $27,000 after buying an additional 391 shares during the period. Archer Investment Corp boosted its position in shares of Tractor Supply by 400.0% in the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock worth $27,000 after buying an additional 400 shares during the period. Finally, PrairieView Partners LLC boosted 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 buying an additional 400 shares during the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Stephens started coverage on shares of Tractor Supply in a research report on Wednesday, April 9th. They issued an "equal weight" rating and a $56.00 target price for the company. JPMorgan Chase & Co. decreased their price target on Tractor Supply from $59.00 to $56.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Raymond James reduced their price objective on Tractor Supply from $61.00 to $57.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Truist Financial lowered their target price on shares of 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, Mizuho reduced their price target on shares of Tractor Supply from $62.00 to $58.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Tractor Supply currently has a consensus rating of "Moderate Buy" and an average target price of $58.02.

Tractor Supply Stock Down 1.6%

Shares of NASDAQ TSCO traded down $0.81 during mid-day trading on Wednesday, reaching $49.35. The company had a trading volume of 1,573,799 shares, compared to its average volume of 5,137,033. 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 capitalization of $26.16 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 2.95 and a beta of 0.82. The stock has a fifty day moving average of $51.40 and a two-hundred day moving average of $53.83. Tractor Supply has a 12-month low of $46.85 and a 12-month high of $61.53.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued 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). The business had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.55 billion. Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. The company's revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.83 earnings per share. As a group, equities research analysts expect that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Cuts Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date is Wednesday, May 28th. Tractor Supply's dividend payout ratio (DPR) is presently 45.77%.

Tractor Supply announced that its Board of Directors has initiated a share buyback plan on Thursday, February 13th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the specialty retailer to buy up to 3.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.

Insider Activity at Tractor Supply

In other Tractor Supply 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 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 approximately $1,538,410.72. The trade was a 8.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.65% of the company's stock.

About Tractor Supply

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.