Pacific Point Advisors LLC Takes $1.27 Million Position in Tractor Supply (NASDAQ:TSCO)

Pacific Point Advisors LLC purchased 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 and Exchange Commission. The fund purchased 23,413 shares of the specialty retailer's stock, valued at approximately $1,265,000.

A number of other institutional investors also recently added to or reduced their stakes in TSCO. Smithfield Trust Co raised its position in Tractor Supply by 286.2% during the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock valued at $25,000 after buying an additional 352 shares during the period. Blue Trust Inc. increased its position in Tractor Supply by 28.2% in the 4th quarter. Blue Trust Inc. now owns 1,646 shares of the specialty retailer's stock worth $87,000 after purchasing an additional 362 shares during the last quarter. Dunhill Financial LLC increased its position in Tractor Supply by 325.8% in the 4th quarter. Dunhill Financial LLC now owns 511 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 391 shares during the last quarter. Archer Investment Corp increased its position in Tractor Supply by 400.0% in the 4th quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 400 shares during the last quarter. Finally, PrairieView Partners LLC increased 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 worth $26,000 after purchasing an additional 400 shares during the last quarter. Institutional investors and hedge funds own 98.72% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on TSCO. Mizuho dropped their target price on Tractor Supply from $62.00 to $58.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Truist Financial dropped their target price on Tractor Supply from $63.00 to $60.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Stephens initiated coverage on Tractor Supply in a research report on Wednesday, April 9th. They issued an "equal weight" rating and a $56.00 target price on the stock. Telsey Advisory Group set a $60.00 target price on Tractor Supply in a research note on Friday, April 25th. Finally, Robert W. Baird dropped their price target on Tractor Supply from $63.00 to $56.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $58.02.

Tractor Supply Stock Performance

Shares of NASDAQ TSCO traded up $0.69 during midday trading on Tuesday, hitting $50.39. 6,118,136 shares of the company's stock were exchanged, compared to its average volume of 5,150,956. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. Tractor Supply has a 12 month low of $46.85 and a 12 month high of $61.53. The company's 50 day moving average price is $51.43 and its 200 day moving average price is $53.86. The firm has a market capitalization of $26.72 billion, a PE ratio of 24.70, a price-to-earnings-growth ratio of 2.95 and a beta of 0.82.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its earnings results on Thursday, April 24th. The specialty retailer reported $0.34 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.03). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. The business had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter in the prior year, the firm posted $1.83 earnings per share. The business's revenue was up 2.1% compared to the same quarter last year. As a group, analysts predict that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th will be paid a $0.23 dividend. The ex-dividend date is Wednesday, May 28th. This represents a $0.92 annualized dividend and a yield of 1.83%. Tractor Supply's dividend payout ratio (DPR) is presently 45.77%.

Tractor Supply announced that its board has initiated a stock buyback plan on Thursday, February 13th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the specialty retailer to purchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board of directors believes its stock is 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 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 sale, the senior vice president now directly owns 29,722 shares in the company, valued at $1,538,410.72. The trade was a 8.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.65% of the stock is currently owned by corporate 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.