Grove Bank & Trust Has $163,000 Stake in Tractor Supply Company (NASDAQ:TSCO)

Grove Bank & Trust lifted its stake in Tractor Supply Company (NASDAQ:TSCO) by 3,388.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,965 shares of the specialty retailer’s stock after acquiring an additional 2,880 shares during the period. Grove Bank & Trust’s holdings in Tractor Supply were worth $163,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TSCO. Smithfield Trust Co lifted its stake in shares of Tractor Supply by 286.2% in the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer’s stock worth $25,000 after buying an additional 352 shares during the last quarter. Coppell Advisory Solutions LLC lifted its position 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 acquiring an additional 425 shares during the last quarter. First Command Advisory Services Inc. boosted its holdings in Tractor Supply by 400.0% during the fourth quarter. First Command Advisory Services Inc. now owns 500 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 400 shares during the period. Whittier Trust Co. grew its position in shares of Tractor Supply by 400.0% in the fourth quarter. Whittier Trust Co. now owns 500 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 400 shares during the last quarter. Finally, Dunhill Financial LLC increased its stake in shares of Tractor Supply by 325.8% in the fourth quarter. Dunhill Financial LLC now owns 511 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 391 shares during the period. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Tractor Supply Trading Down 1.4%

Shares of NASDAQ:TSCO opened at $50.98 on Wednesday. The company’s 50-day moving average price is $50.66 and its two-hundred day moving average price is $53.27. Tractor Supply Company has a one year low of $46.85 and a one year high of $61.53. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.41 and a quick ratio of 0.17. The stock has a market capitalization of $27.03 billion, a PE ratio of 25.31, a price-to-earnings-growth ratio of 2.78 and a beta of 0.74.

Tractor Supply (NASDAQ:TSCO) last released its earnings results on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). Tractor Supply had a net margin of 7.24% and a return on equity of 47.56%. The company had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.55 billion. During the same period in the prior year, the firm posted $1.83 EPS. Tractor Supply’s revenue was up 2.1% compared to the same quarter last year. On average, equities analysts forecast that Tractor Supply Company will post 2.17 EPS for the current fiscal year.

Tractor Supply Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were paid a $0.23 dividend. The ex-dividend date was Wednesday, May 28th. This represents a $0.92 annualized dividend and a dividend yield of 1.80%. Tractor Supply’s dividend payout ratio is presently 45.77%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Raymond James Financial lowered their price objective on shares of Tractor Supply from $61.00 to $57.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. JPMorgan Chase & Co. dropped their target price on Tractor Supply from $59.00 to $56.00 and set a “neutral” rating for the company in a report on Monday, April 28th. Telsey Advisory Group set a $60.00 price target on shares of Tractor Supply in a report on Friday, April 25th. Guggenheim reduced their price objective on Tractor Supply from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Finally, Stephens initiated coverage on shares of Tractor Supply in a research report on Wednesday, April 9th. They set an “equal weight” rating and a $56.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $58.02.

Insider Buying and Selling

In other news, SVP Matthew L. Rubin sold 2,810 shares of the company’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $51.76, for a total value of $145,445.60. Following the sale, the senior vice president now directly owns 29,722 shares of the company’s stock, valued at approximately $1,538,410.72. This represents a 8.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.65% of the stock is owned by corporate insiders.

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.