ProShare Advisors LLC Boosts Stake in Tractor Supply (NASDAQ:TSCO)

ProShare Advisors LLC raised its position in Tractor Supply (NASDAQ:TSCO - Free Report) by 453.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 91,389 shares of the specialty retailer's stock after purchasing an additional 74,876 shares during the quarter. ProShare Advisors LLC's holdings in Tractor Supply were worth $4,849,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smithfield Trust Co increased its position 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 acquiring an additional 352 shares during the period. Coppell Advisory Solutions LLC increased its position in shares of Tractor Supply by 944.4% during the fourth quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer's stock worth $25,000 after acquiring an additional 425 shares during the period. PrairieView Partners LLC increased its position in shares of Tractor Supply by 400.0% during the fourth quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer's stock worth $26,000 after acquiring an additional 400 shares during the period. Archer Investment Corp increased its position in shares of Tractor Supply by 400.0% during the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock worth $27,000 after acquiring an additional 400 shares during the period. Finally, Kentucky Trust Co purchased a new position in shares of Tractor Supply during the fourth quarter worth approximately $27,000. 98.72% of the stock is owned by hedge funds and other institutional investors.

Tractor Supply Trading Down 0.2%

NASDAQ:TSCO opened at $52.91 on Tuesday. Tractor Supply has a 12 month low of $46.85 and a 12 month high of $61.53. The firm has a fifty day simple moving average of $51.65 and a 200-day simple moving average of $54.08. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $28.05 billion, a P/E ratio of 25.94, a PEG ratio of 2.95 and a beta of 0.82.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $3.55 billion. During the same quarter in the previous year, the firm posted $1.83 earnings per share. The company's quarterly revenue was up 2.1% on a year-over-year basis. On average, equities research analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply declared that its Board of Directors has initiated a stock buyback program on Thursday, February 13th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the specialty retailer to reacquire up to 3.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Tractor Supply Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th will be paid a dividend of $0.23 per share. The ex-dividend date is Wednesday, May 28th. This represents a $0.92 annualized dividend and a dividend yield of 1.74%. Tractor Supply's payout ratio is currently 45.77%.

Insider Transactions at Tractor Supply

In related news, SVP Matthew L. Rubin sold 3,850 shares of the firm's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total transaction of $222,106.50. Following the completion of the transaction, the senior vice president now owns 31,787 shares of the company's stock, valued at $1,833,792.03. This trade represents a 10.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on TSCO shares. Citigroup dropped their price objective on shares of Tractor Supply from $59.00 to $51.00 and set a "neutral" rating on the stock in a research note on Friday, April 25th. Robert W. Baird dropped their price objective on shares of Tractor Supply from $63.00 to $56.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Guggenheim dropped their price objective on shares of Tractor Supply from $60.00 to $55.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. UBS Group set a $54.00 price objective on shares of Tractor Supply in a research note on Friday, April 25th. Finally, Telsey Advisory Group set a $60.00 price objective on shares of Tractor Supply in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $58.02.

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.

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