Simplicity Wealth LLC bought a new position in shares of Tractor Supply (NASDAQ:TSCO - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 20,027 shares of the specialty retailer's stock, valued at approximately $1,103,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Smithfield Trust Co increased its position in shares of Tractor Supply by 286.2% in 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. Coppell Advisory Solutions LLC increased its holdings in Tractor Supply by 944.4% in the 4th quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer's stock valued at $25,000 after buying an additional 425 shares during the period. PrairieView Partners LLC raised its position in shares of 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 in the last quarter. Kentucky Trust Co bought a new stake in shares of Tractor Supply during the 4th quarter worth approximately $27,000. Finally, First Command Advisory Services Inc. boosted its position in shares of Tractor Supply by 400.0% during the 4th quarter. First Command Advisory Services Inc. now owns 500 shares of the specialty retailer's stock worth $27,000 after acquiring an additional 400 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages have commented on TSCO. Mizuho lowered their price objective on shares of Tractor Supply from $62.00 to $58.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Robert W. Baird dropped their price objective on Tractor Supply from $63.00 to $56.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Stephens assumed coverage on Tractor Supply in a research note on Wednesday, April 9th. They issued an "equal weight" rating and a $56.00 price objective on the stock. Wall Street Zen downgraded Tractor Supply from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. Finally, Telsey Advisory Group set a $60.00 price target on shares of Tractor Supply in a research note on Friday, April 25th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $58.02.
Check Out Our Latest Report on TSCO
Insiders Place Their Bets
In other news, SVP Matthew L. Rubin sold 2,810 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $51.76, for a total transaction of $145,445.60. Following the completion of the sale, the senior vice president now owns 29,722 shares in the company, valued at $1,538,410.72. This trade represents a 8.64% decrease in their position. 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.
Tractor Supply Trading Up 0.8%
Shares of Tractor Supply stock traded up $0.43 on Thursday, reaching $51.74. 4,552,001 shares of the company's stock were exchanged, compared to its average volume of 5,208,556. The company has a market capitalization of $27.43 billion, a P/E ratio of 25.36, a price-to-earnings-growth 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 company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. The firm's 50-day moving average is $50.48 and its two-hundred day moving average is $53.43.
Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The specialty retailer reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.03). The company had revenue of $3.47 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.83 earnings per share. Sell-side analysts predict that Tractor Supply will post 2.17 EPS for the current fiscal year.
Tractor Supply Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were paid a dividend of $0.23 per share. The ex-dividend date was Wednesday, May 28th. This represents a $0.92 dividend on an annualized basis and a yield of 1.78%. Tractor Supply's dividend payout ratio (DPR) is currently 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 repurchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its stock is undervalued.
About Tractor Supply
(
Free Report)
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.
Further Reading
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