Texas Bank & Trust Co Takes $234,000 Position in Tractor Supply (NASDAQ:TSCO)

Texas Bank & Trust Co acquired a new stake in Tractor Supply (NASDAQ:TSCO) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,415 shares of the specialty retailer’s stock, valued at approximately $234,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tidal Investments LLC lifted its position in Tractor Supply by 2.8% during the 4th quarter. Tidal Investments LLC now owns 97,840 shares of the specialty retailer’s stock worth $5,191,000 after acquiring an additional 2,668 shares in the last quarter. TrinityPoint Wealth LLC lifted its position in Tractor Supply by 394.1% during the 4th quarter. TrinityPoint Wealth LLC now owns 20,203 shares of the specialty retailer’s stock worth $1,072,000 after acquiring an additional 16,114 shares in the last quarter. Strategic Wealth Partners Ltd. lifted its position in Tractor Supply by 503.2% during the 4th quarter. Strategic Wealth Partners Ltd. now owns 10,436 shares of the specialty retailer’s stock worth $595,000 after acquiring an additional 8,706 shares in the last quarter. Toronto Dominion Bank lifted its position in Tractor Supply by 371.9% during the 4th quarter. Toronto Dominion Bank now owns 191,480 shares of the specialty retailer’s stock worth $10,160,000 after acquiring an additional 150,905 shares in the last quarter. Finally, Scientech Research LLC lifted its position in Tractor Supply by 2,292.4% during the 4th quarter. Scientech Research LLC now owns 33,398 shares of the specialty retailer’s stock worth $1,772,000 after acquiring an additional 32,002 shares in the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Matthew L. Rubin sold 2,810 shares of the company’s 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 completion of the sale, the senior vice president now directly owns 29,722 shares of the company’s stock, valued at $1,538,410.72. This represents a 8.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.65% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on TSCO. Telsey Advisory Group set a $60.00 price target on Tractor Supply in a research report on Friday, April 25th. UBS Group set a $54.00 price target on Tractor Supply in a research report on Friday, April 25th. Citigroup reduced their price target on Tractor Supply from $59.00 to $51.00 and set a “neutral” rating on the stock in a research report on Friday, April 25th. Robert W. Baird reduced their price target on Tractor Supply from $63.00 to $56.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Finally, Guggenheim dropped their price objective on Tractor Supply from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, seven 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, Tractor Supply presently has an average rating of “Moderate Buy” and a consensus target price of $58.02.

Tractor Supply Trading Up 1.6%

Shares of TSCO stock opened at $52.99 on Monday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. Tractor Supply has a 1 year low of $46.85 and a 1 year high of $61.53. The stock has a fifty day moving average of $51.64 and a two-hundred day moving average of $54.08. The firm has a market capitalization 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 announced its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). The firm had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.55 billion. Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.83 EPS. As a group, research analysts expect that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply announced that its Board of Directors has approved a stock repurchase plan on Thursday, February 13th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the specialty retailer to repurchase up to 3.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Tractor Supply Cuts Dividend

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

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.