TrinityPoint Wealth LLC Raises Stake in Tractor Supply (NASDAQ:TSCO)

TrinityPoint Wealth LLC grew its holdings in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 394.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,203 shares of the specialty retailer's stock after purchasing an additional 16,114 shares during the period. TrinityPoint Wealth LLC's holdings in Tractor Supply were worth $1,072,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in TSCO. Strategic Wealth Partners Ltd. grew its holdings in shares of Tractor Supply by 503.2% in the fourth quarter. Strategic Wealth Partners Ltd. now owns 10,436 shares of the specialty retailer's stock valued at $595,000 after purchasing an additional 8,706 shares in the last quarter. Toronto Dominion Bank grew its stake in shares of Tractor Supply by 371.9% in the fourth quarter. Toronto Dominion Bank now owns 191,480 shares of the specialty retailer's stock worth $10,160,000 after acquiring an additional 150,905 shares in the last quarter. Scientech Research LLC increased its position in shares of Tractor Supply by 2,292.4% during the fourth quarter. Scientech Research LLC now owns 33,398 shares of the specialty retailer's stock worth $1,772,000 after acquiring an additional 32,002 shares during the period. Select Equity Group L.P. raised its stake in shares of Tractor Supply by 405.6% in the fourth quarter. Select Equity Group L.P. now owns 7,669,224 shares of the specialty retailer's stock valued at $406,929,000 after acquiring an additional 6,152,333 shares in the last quarter. Finally, Snowden Capital Advisors LLC boosted its holdings in Tractor Supply by 399.9% in the fourth quarter. Snowden Capital Advisors LLC now owns 20,540 shares of the specialty retailer's stock valued at $1,090,000 after purchasing an additional 16,431 shares during the period. Institutional investors and hedge funds own 98.72% of the company's stock.

Tractor Supply Price Performance

Shares of TSCO traded down $1.31 on Tuesday, reaching $51.60. The stock had a trading volume of 4,912,277 shares, compared to its average volume of 5,155,812. Tractor Supply has a twelve month low of $46.85 and a twelve month high of $61.53. The firm has a market capitalization of $27.36 billion, a PE ratio of 25.29, a PEG ratio of 2.95 and a beta of 0.82. The firm has a 50-day moving average of $51.65 and a 200 day moving average of $54.06. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its earnings results on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). The firm had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.55 billion. Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. The firm's revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the company posted $1.83 EPS. Sell-side analysts expect that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date is Wednesday, May 28th. Tractor Supply's payout ratio is currently 45.77%.

Tractor Supply announced that its board has approved a share repurchase plan on Thursday, February 13th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to buy up to 3.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on TSCO shares. Raymond James cut their price target on Tractor Supply from $61.00 to $57.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Robert W. Baird dropped 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. Citigroup cut their target price on Tractor Supply from $59.00 to $51.00 and set a "neutral" rating on the stock in a research report on Friday, April 25th. UBS Group set a $54.00 price target on shares of Tractor Supply in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. lowered their target price on 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 equities research analyst has 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's stock. According to data from MarketBeat, Tractor Supply has an average rating of "Moderate Buy" and an average target price of $58.02.

Insiders Place Their Bets

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 sale, the senior vice president now owns 29,722 shares in the company, valued at approximately $1,538,410.72. This represents a 8.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.65% of the stock is currently owned by company insiders.

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.