Vident Advisory LLC Increases Stock Holdings in Tractor Supply (NASDAQ:TSCO)

Vident Advisory LLC raised its holdings in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 438.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,040 shares of the specialty retailer's stock after acquiring an additional 18,762 shares during the quarter. Vident Advisory LLC's holdings in Tractor Supply were worth $1,223,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Smithfield Trust Co increased its stake in Tractor Supply by 286.2% in the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock valued at $25,000 after purchasing an additional 352 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Tractor Supply by 28.2% in the 4th quarter. Blue Trust Inc. now owns 1,646 shares of the specialty retailer's stock valued at $87,000 after buying an additional 362 shares in the last quarter. Dunhill Financial LLC grew its position in shares of Tractor Supply by 325.8% in the 4th quarter. Dunhill Financial LLC now owns 511 shares of the specialty retailer's stock valued at $27,000 after buying an additional 391 shares during the last quarter. Archer Investment Corp grew its position in shares of Tractor Supply by 400.0% in the 4th quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock valued at $27,000 after buying an additional 400 shares during the last quarter. Finally, PrairieView Partners LLC boosted its position in shares of Tractor Supply by 400.0% in the 4th quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer's stock valued at $26,000 after purchasing an additional 400 shares during the period. Hedge funds and other institutional investors own 98.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TSCO. Raymond James reduced their price objective on Tractor Supply from $61.00 to $57.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Citigroup decreased their price target on shares of Tractor Supply from $59.00 to $51.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Mizuho dropped their price objective on shares of Tractor Supply from $62.00 to $58.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Wall Street Zen upgraded shares of Tractor Supply from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, Stephens started coverage on Tractor Supply in a report on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $58.02.

Insider Activity

In related 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 sale, the senior vice president now owns 29,722 shares in the company, valued at $1,538,410.72. This represents a 8.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.65% of the company's stock.

Tractor Supply Price Performance

TSCO stock traded down $1.07 on Wednesday, reaching $49.08. 3,180,975 shares of the company's stock were exchanged, compared to its average volume of 5,150,995. The stock has a fifty day moving average of $51.40 and a 200-day moving average of $53.83. The firm has a market cap of $26.02 billion, a PE ratio of 24.06, a P/E/G ratio of 2.95 and a beta of 0.82. 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 has a twelve month low of $46.85 and a twelve month high of $61.53.

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

Tractor Supply Cuts Dividend

The business 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 of this dividend is Wednesday, May 28th. This represents a $0.92 dividend on an annualized basis and a yield of 1.87%. Tractor Supply's dividend payout ratio (DPR) is presently 45.77%.

Tractor Supply announced that its board has approved a stock repurchase program on Thursday, February 13th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the specialty retailer to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase programs are generally a sign 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.