ProShare Advisors LLC Raises Stock Position in Tractor Supply (NASDAQ:TSCO)

ProShare Advisors LLC increased its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 453.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,389 shares of the specialty retailer’s stock after purchasing an additional 74,876 shares during the period. ProShare Advisors LLC’s holdings in Tractor Supply were worth $4,849,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Coppell Advisory Solutions LLC increased 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 valued at $25,000 after buying an additional 425 shares in the last quarter. Smithfield Trust Co increased its holdings in Tractor Supply by 286.2% in the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 352 shares in the last quarter. Archer Investment Corp increased its holdings in Tractor Supply by 400.0% in the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 400 shares in the last quarter. PrairieView Partners LLC grew its position in shares of Tractor Supply by 400.0% in the fourth quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 400 shares during the period. Finally, Kentucky Trust Co acquired a new stake in shares of Tractor Supply in the fourth quarter valued at about $27,000. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Wall Street Analysts Forecast Growth

TSCO has been the topic of several research analyst reports. Guggenheim dropped their target price on shares of Tractor Supply from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Robert W. Baird dropped their target price on shares of Tractor Supply from $63.00 to $56.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Stephens initiated coverage on shares of 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. JPMorgan Chase & Co. dropped their target price on shares of Tractor Supply from $59.00 to $56.00 and set a “neutral” rating on the stock in a research report on Monday, April 28th. Finally, Raymond James dropped their target price on shares of Tractor Supply from $61.00 to $57.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Tractor Supply currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.02.

Insider Buying and Selling at Tractor Supply

In other news, SVP Matthew L. Rubin sold 3,850 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total value of $222,106.50. Following the sale, the senior vice president now directly owns 31,787 shares of the company’s stock, valued at approximately $1,833,792.03. The trade was a 10.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.65% of the stock is currently owned by company insiders.

Tractor Supply Stock Performance

NASDAQ:TSCO opened at $52.91 on Tuesday. 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 firm has a market capitalization of $28.05 billion, a price-to-earnings ratio of 25.94, a PEG ratio of 2.95 and a beta of 0.82. The company’s 50-day moving average is $51.65 and its two-hundred day moving average is $54.08. 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 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). The firm 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 business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.83 earnings per share. Analysts forecast that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th will be issued a $0.23 dividend. The ex-dividend date is Wednesday, May 28th. This represents a $0.92 annualized dividend and a yield of 1.74%. Tractor Supply’s payout ratio is 45.77%.

Tractor Supply announced that its board has initiated a share repurchase plan on Thursday, February 13th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the specialty retailer to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

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.