Pacific Point Advisors LLC Acquires New Position in Tractor Supply (NASDAQ:TSCO)

Pacific Point Advisors LLC bought a new position in shares of Tractor Supply (NASDAQ:TSCO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 23,413 shares of the specialty retailer’s stock, valued at approximately $1,265,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Neo Ivy Capital Management purchased a new stake in shares of Tractor Supply in the fourth quarter valued at $1,912,000. Western Wealth Management LLC grew its holdings in Tractor Supply by 349.6% in the 4th quarter. Western Wealth Management LLC now owns 18,152 shares of the specialty retailer’s stock valued at $963,000 after buying an additional 14,115 shares during the period. Sunbelt Securities Inc. grew its holdings in Tractor Supply by 374.3% in the 4th quarter. Sunbelt Securities Inc. now owns 18,001 shares of the specialty retailer’s stock valued at $947,000 after buying an additional 14,206 shares during the period. GTS Securities LLC increased its stake in shares of Tractor Supply by 1,950.2% during the 4th quarter. GTS Securities LLC now owns 4,237 shares of the specialty retailer’s stock valued at $225,000 after acquiring an additional 4,466 shares during the last quarter. Finally, Connecticut Wealth Management LLC lifted its holdings in shares of Tractor Supply by 396.3% during the 4th quarter. Connecticut Wealth Management LLC now owns 17,406 shares of the specialty retailer’s stock worth $924,000 after acquiring an additional 13,899 shares during the period. 98.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 2,810 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $51.76, for a total transaction of $145,445.60. Following the transaction, the senior vice president now directly owns 29,722 shares in the company, valued at $1,538,410.72. This represents a 8.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.65% of the stock is currently owned by insiders.

Tractor Supply Trading Down 0.7%

NASDAQ TSCO opened at $49.67 on Friday. The company’s fifty day simple moving average is $51.55 and its 200-day simple moving average is $54.01. Tractor Supply has a 52 week low of $46.85 and a 52 week high of $61.53. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. The stock has a market cap of $26.34 billion, a P/E ratio of 24.35, a PEG ratio of 2.95 and a beta of 0.82.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings results 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 period in the prior year, the company earned $1.83 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. Equities research analysts predict that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply declared that its board has approved a share buyback plan on Thursday, February 13th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to purchase up to 3.3% of its stock through open market purchases. Stock buyback plans are often 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. Shareholders of record on Wednesday, May 28th will be paid a dividend of $0.23 per share. The ex-dividend date is Wednesday, May 28th. This represents a $0.92 dividend on an annualized basis and a yield of 1.85%. Tractor Supply’s dividend payout ratio (DPR) is 45.77%.

Analyst Ratings Changes

TSCO has been the subject of several research analyst reports. Stephens started coverage on shares of Tractor Supply in a research report on Wednesday, April 9th. They set an “equal weight” rating and a $56.00 price target for the company. Truist Financial cut their target price on Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. UBS Group set a $54.00 price target on Tractor Supply in a research report on Friday, April 25th. Telsey Advisory Group set a $60.00 price objective on Tractor Supply in a report on Friday, April 25th. Finally, Mizuho reduced their price objective on Tractor Supply from $62.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Tractor Supply currently has an average rating of “Moderate Buy” and an average target price of $58.02.

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.