Cary Street Partners Financial LLC Buys Shares of 3,351 Tractor Supply (NASDAQ:TSCO)

Cary Street Partners Financial LLC purchased a new stake in shares of Tractor Supply (NASDAQ:TSCO) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 3,351 shares of the specialty retailer’s stock, valued at approximately $178,000.

Other hedge funds have also modified their holdings of the company. Nordea Investment Management AB boosted its position in Tractor Supply by 418.5% during the fourth quarter. Nordea Investment Management AB now owns 46,140 shares of the specialty retailer’s stock valued at $2,446,000 after purchasing an additional 37,242 shares during the last quarter. First Hawaiian Bank purchased a new stake in shares of Tractor Supply during the 4th quarter worth about $337,000. ST Germain D J Co. Inc. lifted its holdings in shares of Tractor Supply by 392.3% during the 4th quarter. ST Germain D J Co. Inc. now owns 640 shares of the specialty retailer’s stock valued at $34,000 after buying an additional 510 shares during the last quarter. Czech National Bank grew its stake in shares of Tractor Supply by 427.1% in the 4th quarter. Czech National Bank now owns 115,825 shares of the specialty retailer’s stock valued at $6,146,000 after buying an additional 93,851 shares in the last quarter. Finally, Threadgill Financial LLC increased its holdings in Tractor Supply by 416.8% in the fourth quarter. Threadgill Financial LLC now owns 15,250 shares of the specialty retailer’s stock worth $809,000 after buying an additional 12,299 shares during the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tractor Supply

In other news, CFO Kurt D. Barton sold 12,146 shares of Tractor Supply stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $56.00, for a total transaction of $680,176.00. Following the sale, the chief financial officer now owns 47,715 shares of the company’s stock, valued at approximately $2,672,040. This trade represents a 20.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Matthew L. Rubin sold 3,850 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total value of $222,106.50. Following the sale, the senior vice president now owns 31,787 shares in the company, valued at approximately $1,833,792.03. This represents a 10.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,598 shares of company stock worth $2,234,481. Company insiders own 0.65% of the company’s stock.

Tractor Supply Stock Down 0.2%

TSCO opened at $51.31 on Monday. The business has a 50 day moving average of $51.96 and a 200-day moving average of $54.14. The stock has a market capitalization of $27.28 billion, a price-to-earnings ratio of 25.15, a P/E/G ratio of 2.95 and a beta of 0.82. 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.

Tractor Supply (NASDAQ:TSCO) last issued 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 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%. Tractor Supply’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the company earned $1.83 earnings per share. As a group, sell-side analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply announced that its board has authorized a share buyback program on Thursday, February 13th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to reacquire up to 3.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were paid a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 7.17%. The ex-dividend date was Wednesday, February 26th. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio (DPR) is presently 45.77%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. UBS Group set a $54.00 target price on shares of Tractor Supply in a research note on Friday, April 25th. Citigroup reduced their price objective 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. Stephens began coverage on shares of Tractor Supply in a research report on Wednesday, April 9th. They set an “equal weight” rating and a $56.00 target price on the stock. JPMorgan Chase & Co. cut their target price on Tractor Supply from $59.00 to $56.00 and set a “neutral” rating on the stock in a report on Monday, April 28th. Finally, Mizuho decreased their price target on Tractor Supply from $62.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.02.

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.