Focus Partners Wealth Raises Stake in Tractor Supply (NASDAQ:TSCO)

Focus Partners Wealth increased its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 631.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 45,421 shares of the specialty retailer’s stock after purchasing an additional 39,210 shares during the quarter. Focus Partners Wealth’s holdings in Tractor Supply were worth $2,410,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Smithfield Trust Co grew its position in Tractor Supply by 286.2% during the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 352 shares during the period. Coppell Advisory Solutions LLC grew its stake in Tractor Supply by 944.4% during the 4th 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 increased its stake in shares of Tractor Supply by 400.0% in the fourth quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer’s stock worth $26,000 after buying an additional 400 shares during the last quarter. Archer Investment Corp raised its stake 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 purchasing an additional 400 shares in the last quarter. Finally, Kentucky Trust Co acquired a new stake in Tractor Supply during the fourth quarter valued at approximately $27,000. 98.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tractor Supply

In other news, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $57.69, for a total transaction of $222,106.50. Following the sale, the senior vice president now directly owns 31,787 shares in the company, valued at approximately $1,833,792.03. The trade was a 10.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on TSCO shares. Stephens initiated coverage on shares of Tractor Supply in a research report on Wednesday, April 9th. They set an “equal weight” rating and a $56.00 price objective for the company. Mizuho dropped their price target on shares of Tractor Supply from $62.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Robert W. Baird cut their price objective on Tractor Supply from $63.00 to $56.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Telsey Advisory Group set a $60.00 target price on shares of Tractor Supply in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. cut their price objective on Tractor Supply from $59.00 to $56.00 and set a “neutral” rating on the stock in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $58.02.

Tractor Supply Stock Up 1.5%

TSCO stock opened at $52.17 on Friday. The company has a fifty day simple moving average of $51.66 and a 200 day simple moving average of $54.08. 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. The firm has a market cap of $27.66 billion, a PE ratio of 25.57, a PEG ratio of 2.95 and a beta of 0.82.

Tractor Supply (NASDAQ:TSCO) last released its 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 firm 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 firm’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.83 EPS. Sell-side analysts anticipate that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply announced that its Board of Directors has authorized a share repurchase plan on Thursday, February 13th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the specialty retailer to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Tractor Supply Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.76%. Tractor Supply’s payout ratio is 45.77%.

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.