Cornerstone Advisory LLC Raises Stake in Tractor Supply (NASDAQ:TSCO)

Cornerstone Advisory LLC boosted its holdings in Tractor Supply (NASDAQ:TSCO) by 402.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,750 shares of the specialty retailer’s stock after purchasing an additional 7,010 shares during the quarter. Cornerstone Advisory LLC’s holdings in Tractor Supply were worth $500,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of TSCO. Smithfield Trust Co increased its holdings in shares of 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 in the last quarter. Coppell Advisory Solutions LLC raised its holdings in Tractor Supply by 944.4% in the fourth quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer’s stock worth $25,000 after buying an additional 425 shares during the last quarter. PrairieView Partners LLC raised its holdings in 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 lifted its stake in shares of Tractor Supply by 400.0% in the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer’s stock worth $27,000 after buying an additional 400 shares in the last quarter. Finally, Kentucky Trust Co purchased a new stake in shares of Tractor Supply during the fourth quarter valued at approximately $27,000. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Stock Performance

TSCO opened at $49.67 on Friday. The company’s 50 day moving average is $51.55 and its 200 day moving average is $54.01. 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 company has a market cap of $26.34 billion, a price-to-earnings ratio of 24.35, a PEG ratio of 2.95 and a beta of 0.82. Tractor Supply has a 12-month low of $46.85 and a 12-month high of $61.53.

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

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

Tractor Supply Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Wednesday, May 28th. Tractor Supply’s payout ratio is 45.77%.

Insider Transactions at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 2,810 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $51.76, for a total value of $145,445.60. Following the completion of the transaction, the senior vice president now directly owns 29,722 shares in the company, valued at $1,538,410.72. This represents a 8.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.65% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on TSCO. Truist Financial decreased their price objective on shares of Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a report on Friday, January 31st. Mizuho reduced their target price on Tractor Supply from $62.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Raymond James lowered their price target on Tractor Supply from $61.00 to $57.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Robert W. Baird dropped their price objective 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, UBS Group set a $54.00 target price on Tractor Supply in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Tractor Supply presently has a consensus rating of “Moderate Buy” and an average target price of $58.02.

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.