Old North State Trust LLC Has $356,000 Stake in Tractor Supply (NASDAQ:TSCO)

Old North State Trust LLC grew its stake in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 400.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,700 shares of the specialty retailer's stock after acquiring an additional 5,360 shares during the period. Old North State Trust LLC's holdings in Tractor Supply were worth $356,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. FORA Capital LLC lifted its position in Tractor Supply by 434.1% during the fourth quarter. FORA Capital LLC now owns 35,526 shares of the specialty retailer's stock worth $1,885,000 after acquiring an additional 28,875 shares during the last quarter. CIBC Private Wealth Group LLC increased its holdings in shares of Tractor Supply by 385.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,089,542 shares of the specialty retailer's stock worth $59,260,000 after purchasing an additional 865,273 shares during the period. BOK Financial Private Wealth Inc. increased its holdings in shares of Tractor Supply by 330.2% during the fourth quarter. BOK Financial Private Wealth Inc. now owns 21,355 shares of the specialty retailer's stock worth $1,133,000 after purchasing an additional 16,391 shares during the period. Gen Wealth Partners Inc increased its holdings in shares of Tractor Supply by 513.8% during the fourth quarter. Gen Wealth Partners Inc now owns 14,320 shares of the specialty retailer's stock worth $760,000 after purchasing an additional 11,987 shares during the period. Finally, Blueshift Asset Management LLC increased its holdings in shares of Tractor Supply by 571.8% during the fourth quarter. Blueshift Asset Management LLC now owns 66,815 shares of the specialty retailer's stock worth $3,545,000 after purchasing an additional 56,870 shares during the period. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Wall Street Zen raised shares of Tractor Supply from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. Mizuho lowered their target price on shares of Tractor Supply from $62.00 to $58.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Guggenheim lowered their target price on shares of Tractor Supply from $60.00 to $55.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Telsey Advisory Group set a $60.00 price objective on shares of Tractor Supply in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Tractor Supply from $59.00 to $56.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $58.02.

Insider Activity at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 2,810 shares of the business'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 transaction, the senior vice president now directly owns 29,722 shares of the company's stock, valued at approximately $1,538,410.72. The trade was a 8.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.65% of the stock is owned by corporate insiders.

Tractor Supply Trading Down 1.1%

TSCO stock traded down $0.55 during trading on Friday, hitting $48.42. The company had a trading volume of 7,785,239 shares, compared to its average volume of 5,174,335. 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 one year low of $46.85 and a one year high of $61.53. The business has a 50-day moving average of $51.24 and a 200-day moving average of $53.75. The stock has a market cap of $25.67 billion, a PE ratio of 23.74, 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 analysts' consensus estimates of $0.37 by ($0.03). The firm had revenue of $3.47 billion during 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 in the prior year, the company posted $1.83 earnings per share. Research analysts predict that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Cuts Dividend

The firm 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 $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Wednesday, May 28th. Tractor Supply's dividend payout ratio is 45.77%.

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

About Tractor Supply

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.