Clean Yield Group Cuts Stock Position in Tractor Supply (NASDAQ:TSCO)

Clean Yield Group lessened its holdings in Tractor Supply (NASDAQ:TSCO) by 4.9% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 9,645 shares of the specialty retailer’s stock after selling 500 shares during the period. Clean Yield Group’s holdings in Tractor Supply were worth $531,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of TSCO. Smithfield Trust Co grew its position in shares of Tractor Supply by 286.2% during the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 352 shares in the last quarter. Coppell Advisory Solutions LLC grew 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 valued at $25,000 after purchasing an additional 425 shares in the last quarter. PrairieView Partners LLC grew its position in shares of Tractor Supply by 400.0% during 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 in the last quarter. Archer Investment Corp grew its position in shares of Tractor Supply by 400.0% during the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 400 shares in the last quarter. Finally, Kentucky Trust Co purchased a new position in shares of Tractor Supply during the fourth quarter valued at about $27,000. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Matthew L. Rubin sold 2,810 shares of Tractor Supply 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 completion of the sale, the senior vice president now directly owns 29,722 shares in the company, valued at approximately $1,538,410.72. The trade was a 8.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.65% of the company’s stock.

Tractor Supply Price Performance

NASDAQ TSCO opened at $50.94 on Friday. The firm’s fifty day simple moving average is $50.69 and its two-hundred day simple moving average is $53.51. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. Tractor Supply has a 12-month low of $46.85 and a 12-month high of $61.53. The firm has a market capitalization of $27.01 billion, a P/E ratio of 24.97, a P/E/G ratio of 2.95 and a beta of 0.74.

Tractor Supply (NASDAQ:TSCO) last released 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 return on equity of 49.01% and a net margin of 7.40%. The firm had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.55 billion. During the same period in the prior year, the firm posted $1.83 earnings per share. Tractor Supply’s revenue for the quarter was up 2.1% compared to the same quarter last year. Analysts forecast that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply announced that its board has approved a stock buyback program on Thursday, February 13th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the specialty retailer to purchase up to 3.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Tractor Supply Cuts Dividend

The company also recently declared 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. This represents a $0.92 annualized dividend and a yield of 1.81%. The ex-dividend date is Wednesday, May 28th. Tractor Supply’s dividend payout ratio is currently 45.77%.

Analyst Ratings Changes

A number of research analysts recently commented on TSCO shares. Wall Street Zen downgraded shares of Tractor Supply from a “hold” rating to a “sell” rating in a report on Friday. Robert W. Baird lowered their price target on shares of Tractor Supply from $63.00 to $56.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Guggenheim lowered their price target on shares of Tractor Supply from $60.00 to $55.00 and set a “buy” rating for the company in a report on Friday, April 25th. Mizuho lowered their price target on shares of Tractor Supply from $62.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Finally, Telsey Advisory Group set a $60.00 price target on shares of Tractor Supply in a report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $58.02.

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.