Portside Wealth Group LLC Purchases 8,196 Shares of Tractor Supply (NASDAQ:TSCO)

Portside Wealth Group LLC increased its holdings in Tractor Supply (NASDAQ:TSCO - Free Report) by 437.6% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,069 shares of the specialty retailer's stock after purchasing an additional 8,196 shares during the period. Portside Wealth Group LLC's holdings in Tractor Supply were worth $534,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Advisory Alpha LLC boosted its position in Tractor Supply by 6.2% during the 1st quarter. Advisory Alpha LLC now owns 4,826 shares of the specialty retailer's stock valued at $266,000 after buying an additional 283 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in Tractor Supply by 21.8% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,829 shares of the specialty retailer's stock valued at $101,000 after buying an additional 327 shares during the period. Smithfield Trust Co raised its holdings in Tractor Supply by 286.2% in the 4th quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock worth $25,000 after purchasing an additional 352 shares in the last quarter. Blue Trust Inc. raised its holdings 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 in the last quarter. Finally, Dunhill Financial LLC raised its holdings 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 in the last quarter. Hedge funds and other institutional investors own 98.72% of the company's stock.

Insider Transactions 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 shares were sold at an average price of $51.76, for a total value of $145,445.60. Following the sale, the senior vice president now owns 29,722 shares in the company, 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 document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.65% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on TSCO. Raymond James decreased their price objective on shares of Tractor Supply from $61.00 to $57.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Telsey Advisory Group set a $60.00 price target on shares of Tractor Supply in a research note on Friday, April 25th. Citigroup decreased their price target on shares of Tractor Supply from $59.00 to $51.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Stephens initiated coverage on shares of 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. Finally, Guggenheim dropped their price target on shares of Tractor Supply from $60.00 to $55.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $58.02.

Tractor Supply Price Performance

NASDAQ:TSCO traded down $0.51 during trading hours on Friday, hitting $50.94. 6,992,577 shares of the stock traded hands, compared to its average volume of 5,205,791. 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 1 year low of $46.85 and a 1 year high of $61.53. The company has a market cap of $27.01 billion, a price-to-earnings ratio of 24.97, a price-to-earnings-growth ratio of 2.95 and a beta of 0.74. The stock has a 50 day moving average price of $50.69 and a 200 day moving average price of $53.50.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released 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 company had revenue of $3.47 billion during the quarter, compared to analysts' expectations of $3.55 billion. During the same period last year, the firm posted $1.83 EPS. Tractor Supply's quarterly revenue was up 2.1% compared to the same quarter last year. Sell-side analysts forecast that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply announced that its Board of Directors has authorized a stock repurchase 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 reacquire up to 3.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Tractor Supply Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Wednesday, May 28th. Tractor Supply's dividend payout ratio (DPR) is presently 45.77%.

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.