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

Portside Wealth Group LLC increased its position in Tractor Supply (NASDAQ:TSCO - Free Report) by 437.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,069 shares of the specialty retailer's stock after acquiring an additional 8,196 shares during the quarter. Portside Wealth Group LLC's holdings in Tractor Supply were worth $534,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisory Alpha LLC raised its position in shares of 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 purchasing an additional 283 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in Tractor Supply by 21.8% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,829 shares of the specialty retailer's stock worth $101,000 after buying an additional 327 shares in the last quarter. Smithfield Trust Co raised its holdings 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 acquiring an additional 352 shares during the period. Blue Trust Inc. lifted its position in shares of Tractor Supply by 28.2% in the fourth quarter. Blue Trust Inc. now owns 1,646 shares of the specialty retailer's stock valued at $87,000 after acquiring an additional 362 shares in the last quarter. Finally, Dunhill Financial LLC lifted its position in shares of 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 acquiring an additional 391 shares in the last quarter. Institutional investors own 98.72% of the company's stock.

Tractor Supply Trading Up 4.3%

TSCO stock traded up $2.11 during midday trading on Thursday, reaching $51.45. 10,693,763 shares of the company traded hands, compared to its average volume of 5,189,742. The firm has a market capitalization of $27.28 billion, a price-to-earnings ratio of 25.22, a P/E/G ratio of 2.95 and a beta of 0.74. Tractor Supply has a 52-week low of $46.85 and a 52-week high of $61.53. The business has a 50 day moving average of $50.85 and a 200-day moving average of $53.56. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43.

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

Tractor Supply declared that its board has approved a share repurchase plan on Thursday, February 13th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to reacquire up to 3.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its stock is undervalued.

Tractor Supply Cuts Dividend

The company 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. The ex-dividend date is Wednesday, May 28th. This represents a $0.92 annualized dividend and a dividend yield of 1.79%. Tractor Supply's dividend payout ratio (DPR) is presently 45.77%.

Insider Transactions at Tractor Supply

In related news, SVP Matthew L. Rubin sold 2,810 shares of the 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 sale, the senior vice president now directly owns 29,722 shares of the company's stock, valued at $1,538,410.72. This represents a 8.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.65% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TSCO. Guggenheim cut their target price on Tractor Supply from $60.00 to $55.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Wall Street Zen upgraded Tractor Supply from a "sell" rating to a "hold" rating in a research note on Saturday, May 24th. Telsey Advisory Group set a $60.00 price objective on shares of Tractor Supply in a research report on Friday, April 25th. JPMorgan Chase & Co. lowered their target price on shares of Tractor Supply from $59.00 to $56.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Finally, Raymond James dropped their target price on shares of Tractor Supply from $61.00 to $57.00 and set an "outperform" rating for the company 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 given a strong buy rating to the company's stock. According to data from MarketBeat, Tractor Supply presently has a consensus rating of "Moderate Buy" and an average price target of $58.02.

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.