Rhumbline Advisers Buys 59,400 Shares of Tractor Supply (NASDAQ:TSCO)

Rhumbline Advisers increased its position in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 5.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,226,220 shares of the specialty retailer's stock after acquiring an additional 59,400 shares during the quarter. Rhumbline Advisers owned about 0.23% of Tractor Supply worth $67,565,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of TSCO. Coppell Advisory Solutions LLC boosted 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 purchasing an additional 425 shares in the last quarter. Smithfield Trust Co raised its stake in Tractor Supply by 286.2% during the 4th quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock worth $25,000 after buying an additional 352 shares during the period. Archer Investment Corp lifted its holdings in 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 in the last quarter. PrairieView Partners LLC grew its stake in Tractor Supply by 400.0% in the fourth quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer's stock valued at $26,000 after acquiring an additional 400 shares during the period. Finally, Kentucky Trust Co bought a new stake in shares of Tractor Supply in the fourth quarter worth about $27,000. Institutional investors own 98.72% of the company's stock.

Insider Buying and Selling

In other Tractor Supply news, SVP Matthew L. Rubin sold 2,810 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $51.76, for a total transaction of $145,445.60. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.65% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TSCO shares. Raymond James cut their price objective on Tractor Supply from $61.00 to $57.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Citigroup cut their price target 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 reduced their price target on shares of Tractor Supply from $63.00 to $56.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Wall Street Zen upgraded shares of Tractor Supply from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. Finally, Guggenheim cut 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 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 issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $58.02.

Tractor Supply Stock Performance

Shares of TSCO traded up $0.29 during mid-day trading on Wednesday, reaching $49.34. The company's stock had a trading volume of 7,020,102 shares, compared to its average volume of 5,171,917. The company has a current ratio of 1.43, a quick ratio of 0.20 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 business has a 50-day simple moving average of $50.93 and a two-hundred day simple moving average of $53.59. The stock has a market cap of $26.16 billion, a P/E ratio of 24.19, a PEG ratio of 2.95 and a beta of 0.74.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced 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). The company had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.55 billion. Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. The business's quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.83 EPS. As a group, equities research analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply announced that its board has initiated a share buyback plan on Thursday, February 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the specialty retailer to buy up to 3.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's leadership 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 paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.86%. Tractor Supply's dividend payout ratio (DPR) is currently 45.77%.

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.