NorthRock Partners LLC Acquires 5,256 Shares of Tractor Supply (NASDAQ:TSCO)

NorthRock Partners LLC increased its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 724.0% during the 4th quarter, HoldingsChannel reports. The firm owned 5,982 shares of the specialty retailer’s stock after purchasing an additional 5,256 shares during the period. NorthRock Partners LLC’s holdings in Tractor Supply were worth $317,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of TSCO. Smithfield Trust Co lifted its holdings in shares of Tractor Supply by 286.2% during the 4th quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 352 shares in the last quarter. Coppell Advisory Solutions LLC lifted its stake in Tractor Supply by 944.4% in the 4th quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 425 shares in the last quarter. PrairieView Partners LLC lifted its stake in 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 acquiring an additional 400 shares in the last quarter. Archer Investment Corp lifted its stake in 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 acquiring an additional 400 shares in the last quarter. Finally, Kentucky Trust Co bought a new stake in Tractor Supply in the 4th quarter valued at approximately $27,000. Institutional investors own 98.72% of the company’s stock.

Tractor Supply Stock Up 1.6%

TSCO opened at $52.99 on Friday. Tractor Supply has a 1-year low of $46.85 and a 1-year high of $61.53. The stock’s fifty day simple moving average is $51.64 and its 200 day simple moving average is $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. The stock has a market cap of $28.10 billion, a PE ratio of 25.98, a price-to-earnings-growth ratio of 2.95 and a beta of 0.82.

Tractor Supply (NASDAQ:TSCO) 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). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. The business had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter last year, the company posted $1.83 EPS. The firm’s revenue was up 2.1% on a year-over-year basis. As a group, research analysts expect that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply Cuts Dividend

The company 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 dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Wednesday, May 28th. Tractor Supply’s payout ratio is 45.77%.

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

Wall Street Analysts Forecast Growth

TSCO has been the topic of several research reports. Truist Financial cut their target price on Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Telsey Advisory Group set a $60.00 price objective on Tractor Supply in a research note on Friday, April 25th. Stephens initiated coverage on Tractor Supply in a research note on Wednesday, April 9th. They set an “equal weight” rating and a $56.00 price objective on the stock. Mizuho dropped their price objective on Tractor Supply from $62.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Finally, UBS Group set a $54.00 price objective on Tractor Supply in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Tractor Supply currently has a consensus rating of “Moderate Buy” and a consensus 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 transaction, the senior vice president now owns 29,722 shares in the company, valued at $1,538,410.72. This trade represents a 8.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company 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.