Avanza Fonder AB Has $2.55 Million Stake in Tractor Supply (NASDAQ:TSCO)

Avanza Fonder AB reduced its stake in Tractor Supply (NASDAQ:TSCO) by 19.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,797 shares of the specialty retailer’s stock after selling 10,753 shares during the quarter. Avanza Fonder AB’s holdings in Tractor Supply were worth $2,547,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Coppell Advisory Solutions LLC boosted its position in shares of 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 buying an additional 425 shares during the period. Smithfield Trust Co lifted its stake in 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 in the last quarter. PrairieView Partners LLC boosted its position 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 acquiring an additional 400 shares during the last quarter. Kentucky Trust Co acquired a new position in Tractor Supply during the 4th quarter worth approximately $27,000. Finally, First Command Advisory Services Inc. grew its stake in shares of Tractor Supply by 400.0% during the 4th quarter. First Command Advisory Services Inc. now owns 500 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 400 shares in the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Matthew L. Rubin sold 2,810 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $1,538,410.72. The trade was a 8.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.65% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TSCO. UBS Group set a $54.00 target price on shares of Tractor Supply in a report on Friday, April 25th. Stephens began coverage on Tractor Supply in a research report on Wednesday, April 9th. They issued an “equal weight” rating and a $56.00 target price on the stock. Citigroup reduced their price target on Tractor Supply from $59.00 to $51.00 and set a “neutral” rating for the company in a research report on Friday, April 25th. Telsey Advisory Group set a $60.00 price target on Tractor Supply in a research report on Friday, April 25th. Finally, 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 note on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $58.02.

Tractor Supply Price Performance

Shares of TSCO opened at $51.48 on Wednesday. The business has a 50-day moving average of $50.50 and a 200-day moving average of $53.44. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. The company has a market capitalization of $27.29 billion, a price-to-earnings ratio of 25.24, a price-to-earnings-growth ratio of 2.95 and a beta of 0.74. Tractor Supply has a 1 year low of $46.85 and a 1 year high of $61.53.

Tractor Supply (NASDAQ:TSCO) last posted 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 for the quarter, compared to analyst estimates of $3.55 billion. Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. 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 earnings per share. As a group, equities research analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current year.

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

Tractor Supply Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend was Wednesday, May 28th. Tractor Supply’s dividend payout ratio (DPR) is 45.77%.

About Tractor Supply

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.