Tractor Supply (NASDAQ:TSCO) Shares Bought by Portside Wealth Group LLC

Portside Wealth Group LLC grew its position in shares of Tractor Supply (NASDAQ:TSCO) by 437.6% during the first quarter, Holdings Channel reports. The firm owned 10,069 shares of the specialty retailer’s stock after acquiring an additional 8,196 shares during the quarter. Portside Wealth Group LLC’s holdings in Tractor Supply were worth $534,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Coppell Advisory Solutions LLC lifted its stake in Tractor Supply by 944.4% during the fourth 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. Smithfield Trust Co increased its position 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 worth $25,000 after acquiring an additional 352 shares during the period. Archer Investment Corp increased its position in shares of Tractor Supply by 400.0% during the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 400 shares during the period. PrairieView Partners LLC increased its position in shares of Tractor Supply by 400.0% during the fourth quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 400 shares during the period. Finally, Kentucky Trust Co purchased a new stake in shares of Tractor Supply during the fourth quarter worth $27,000. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Tractor Supply

In other news, SVP Matthew L. Rubin sold 2,810 shares of the stock in a transaction dated Wednesday, May 14th. The shares were 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 in the company, valued at approximately $1,538,410.72. This represents a 8.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.65% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on TSCO. Guggenheim cut their price objective on Tractor Supply from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Raymond James cut their price objective on Tractor Supply from $61.00 to $57.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. UBS Group set a $54.00 price objective on Tractor Supply 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 on the stock in a research report on Friday, April 25th. Finally, Citigroup cut their price objective 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. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $58.02.

Tractor Supply Stock Performance

NASDAQ TSCO opened at $49.34 on Thursday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. Tractor Supply has a 1 year low of $46.85 and a 1 year high of $61.53. The company has a market capitalization of $26.16 billion, a PE ratio of 24.19, a P/E/G ratio of 2.95 and a beta of 0.74. The company has a fifty day moving average of $50.85 and a two-hundred day moving average of $53.56.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.03). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. The company had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.55 billion. During the same quarter in the prior year, the company earned $1.83 EPS. The business’s revenue was up 2.1% on a year-over-year basis. As a group, analysts expect that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply announced that its Board of Directors has authorized a stock repurchase program 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 stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Tractor Supply Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th will be paid a $0.23 dividend. The ex-dividend date is Wednesday, May 28th. This represents a $0.92 annualized dividend and a yield of 1.86%. Tractor Supply’s dividend payout ratio is presently 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.