Vident Advisory LLC Raises Position in Tractor Supply (NASDAQ:TSCO)

Vident Advisory LLC raised its holdings in Tractor Supply (NASDAQ:TSCO - Free Report) by 438.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,040 shares of the specialty retailer's stock after buying an additional 18,762 shares during the period. Vident Advisory LLC's holdings in Tractor Supply were worth $1,223,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Smithfield Trust Co boosted its holdings 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 acquiring an additional 352 shares during the last quarter. Coppell Advisory Solutions LLC lifted 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 valued at $25,000 after purchasing an additional 425 shares in the last quarter. PrairieView Partners LLC boosted its holdings in Tractor Supply by 400.0% during the fourth quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer's stock worth $26,000 after purchasing an additional 400 shares during the last quarter. Archer Investment Corp grew its position in Tractor Supply by 400.0% in the 4th quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 400 shares in the last quarter. Finally, Kentucky Trust Co purchased a new stake in Tractor Supply in the 4th quarter valued at about $27,000. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Tractor Supply Price Performance

TSCO stock traded up $0.68 during midday trading on Tuesday, reaching $50.38. The company had a trading volume of 6,118,191 shares, compared to its average volume of 5,150,956. The firm has a 50-day moving average price of $51.43 and a 200-day moving average price of $53.86. The company has a market capitalization of $26.71 billion, a P/E ratio of 24.70, a P/E/G ratio of 2.95 and a beta of 0.82. Tractor Supply has a 1 year low of $46.85 and a 1 year high of $61.53. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its 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 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 firm's revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.83 EPS. On average, research analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th will be given a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $0.92 annualized dividend and a yield of 1.83%. Tractor Supply's payout ratio is currently 45.77%.

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TSCO shares. Raymond James reduced their target price on Tractor Supply from $61.00 to $57.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Mizuho cut their price objective on Tractor Supply from $62.00 to $58.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. UBS Group set a $54.00 target price on Tractor Supply in a research report on Friday, April 25th. Guggenheim cut their price target 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. Finally, Truist Financial reduced their price target on shares of Tractor Supply from $63.00 to $60.00 and set a "buy" rating for the company in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $58.02.

Insider Activity

In other news, SVP Matthew L. Rubin sold 2,810 shares of the stock in a transaction dated 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 directly owns 29,722 shares in the company, valued at approximately $1,538,410.72. This represents a 8.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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.