Probity Advisors Inc. Has $224,000 Stock Holdings in Tractor Supply (NASDAQ:TSCO)

Probity Advisors Inc. lifted its position in Tractor Supply (NASDAQ:TSCO) by 400.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,215 shares of the specialty retailer’s stock after acquiring an additional 3,372 shares during the period. Probity Advisors Inc.’s holdings in Tractor Supply were worth $224,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of TSCO. Smithfield Trust Co raised its position in shares of Tractor Supply by 286.2% in the 4th 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 increased 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 worth $25,000 after purchasing an additional 425 shares in the last quarter. PrairieView Partners LLC increased its stake in Tractor Supply by 400.0% during the 4th quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 400 shares in the last quarter. Archer Investment Corp increased its stake in Tractor Supply by 400.0% during the 4th quarter. Archer Investment Corp now owns 500 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 400 shares in the last quarter. Finally, Kentucky Trust Co bought a new stake in Tractor Supply during the 4th quarter worth approximately $27,000. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 2,810 shares of the firm’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 owns 29,722 shares of the company’s stock, valued at $1,538,410.72. This trade represents a 8.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TSCO. Stephens began coverage on Tractor Supply in a research note on Wednesday, April 9th. They set an “equal weight” rating and a $56.00 target price for the company. Citigroup lowered their target price on Tractor Supply from $59.00 to $51.00 and set a “neutral” rating for the company in a research note on Friday, April 25th. Raymond James lowered their target price on Tractor Supply from $61.00 to $57.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. JPMorgan Chase & Co. lowered their target price on Tractor Supply from $59.00 to $56.00 and set a “neutral” rating for the company in a research note on Monday, April 28th. Finally, Guggenheim lowered their target price on Tractor Supply from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Tractor Supply presently has an average rating of “Moderate Buy” and an average target price of $58.02.

Tractor Supply Trading Up 1.4%

NASDAQ TSCO opened at $50.38 on Wednesday. The company has a market cap of $26.71 billion, a PE ratio of 24.70, a PEG 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 12 month low of $46.85 and a 12 month high of $61.53. The stock has a 50 day moving average of $51.40 and a 200-day moving average of $53.83.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $0.34 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.03). The company 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 period in the previous year, the company posted $1.83 EPS. On average, equities research analysts anticipate that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply announced that its Board of Directors has initiated a stock repurchase plan on Thursday, February 13th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the specialty retailer to buy up to 3.3% of its shares through open market purchases. Shares buyback plans are generally 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 $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.83%. The ex-dividend date is Wednesday, May 28th. Tractor Supply’s payout ratio is presently 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.