Sunbelt Securities Inc. Has $947,000 Stock Holdings in Tractor Supply (NASDAQ:TSCO)

Sunbelt Securities Inc. increased its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 374.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,001 shares of the specialty retailer’s stock after purchasing an additional 14,206 shares during the period. Sunbelt Securities Inc.’s holdings in Tractor Supply were worth $947,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Smithfield Trust Co boosted its holdings in shares of Tractor Supply by 286.2% during the 4th quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer’s stock worth $25,000 after buying an additional 352 shares in the last quarter. Coppell Advisory Solutions LLC lifted its position in shares of Tractor Supply by 944.4% during the 4th quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 425 shares during the period. PrairieView Partners LLC boosted its stake in 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 in the last quarter. Archer Investment Corp grew its stake in shares of Tractor Supply by 400.0% in the 4th quarter. Archer Investment Corp now owns 500 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 400 shares during the period. Finally, Kentucky Trust Co acquired a new stake in Tractor Supply in the fourth quarter valued at approximately $27,000. 98.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TSCO has been the subject of several research reports. Telsey Advisory Group set a $60.00 price target on shares of Tractor Supply in a research report on Friday, April 25th. Stephens assumed coverage on Tractor Supply in a report on Wednesday, April 9th. They set an “equal weight” rating and a $56.00 price objective for the company. Raymond James dropped their target price on Tractor Supply from $61.00 to $57.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Truist Financial decreased their price target on Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a report on Friday, January 31st. Finally, UBS Group set a $54.00 price target on Tractor Supply in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $58.02.

Insider Activity at Tractor Supply

In related news, SVP Matthew L. Rubin sold 2,810 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $51.76, for a total value of $145,445.60. Following the completion of the transaction, the senior vice president now directly owns 29,722 shares of the company’s stock, valued at approximately $1,538,410.72. This trade represents a 8.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.65% of the stock is currently owned by company insiders.

Tractor Supply Trading Up 0.1%

NASDAQ TSCO opened at $49.70 on Friday. The business’s fifty day moving average is $51.49 and its 200-day moving average is $53.97. 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 stock has a market capitalization of $26.35 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 2.95 and a beta of 0.82. Tractor Supply has a one year low of $46.85 and a one year high of $61.53.

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

Tractor Supply Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders 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 annualized dividend and a dividend yield of 1.85%. Tractor Supply’s payout ratio is 45.77%.

Tractor Supply declared that its board has approved a share buyback program on Thursday, February 13th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the specialty retailer to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

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.