Thurston Springer Miller Herd & Titak Inc. Buys 7,014 Shares of Tractor Supply (NASDAQ:TSCO)

Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 30.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,849 shares of the specialty retailer's stock after buying an additional 7,014 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.'s holdings in Tractor Supply were worth $1,645,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Tractor Supply by 392.5% during the 4th quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer's stock worth $3,397,643,000 after acquiring an additional 51,031,178 shares during the period. Wellington Management Group LLP lifted its holdings in Tractor Supply by 401.8% during the 4th quarter. Wellington Management Group LLP now owns 23,789,249 shares of the specialty retailer's stock valued at $1,262,258,000 after purchasing an additional 19,048,385 shares during the last quarter. Alliancebernstein L.P. boosted its position in Tractor Supply by 403.3% during the fourth quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer's stock worth $1,180,932,000 after purchasing an additional 17,834,643 shares during the period. Capital World Investors increased its holdings in shares of Tractor Supply by 403.7% in the fourth quarter. Capital World Investors now owns 19,433,135 shares of the specialty retailer's stock valued at $1,031,122,000 after purchasing an additional 15,575,311 shares during the last quarter. Finally, Capital International Investors raised its position in shares of Tractor Supply by 334.7% in the fourth quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer's stock valued at $818,421,000 after purchasing an additional 11,880,010 shares during the period. Institutional investors and hedge funds own 98.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TSCO. Robert W. Baird decreased their price target 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. Telsey Advisory Group set a $60.00 price objective on Tractor Supply in a 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. Citigroup decreased their price objective on Tractor Supply from $59.00 to $51.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. Finally, Raymond James lowered their price objective on Tractor Supply from $61.00 to $57.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $58.02.

Tractor Supply Price Performance

Tractor Supply stock traded down $0.51 during midday trading on Friday, reaching $50.94. The company's stock had a trading volume of 6,992,577 shares, compared to its average volume of 5,196,935. 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 stock has a market cap of $27.01 billion, a PE ratio of 24.97, 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 business has a 50-day moving average price of $50.77 and a 200-day moving average price of $53.53.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share (EPS) 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 company's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the firm posted $1.83 earnings per share. On average, sell-side analysts predict that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders 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 dividend on an annualized basis and a yield of 1.81%. Tractor Supply's payout ratio is presently 45.77%.

Tractor Supply declared that its board has initiated a stock buyback plan 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 plans are typically a sign that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In other news, SVP Matthew L. Rubin sold 2,810 shares of the company's stock in a transaction that occurred 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 transaction, the senior vice president now owns 29,722 shares of the company's stock, valued at $1,538,410.72. This represents a 8.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.65% of the company's stock.

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.