Silvercrest Asset Management Group LLC Increases Stock Position in Tractor Supply (NASDAQ:TSCO)

Silvercrest Asset Management Group LLC lifted its holdings in Tractor Supply (NASDAQ:TSCO) by 403.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 51,742 shares of the specialty retailer’s stock after purchasing an additional 41,470 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Tractor Supply were worth $2,745,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. FORA Capital LLC lifted its position in shares of Tractor Supply by 434.1% in the 4th quarter. FORA Capital LLC now owns 35,526 shares of the specialty retailer’s stock worth $1,885,000 after purchasing an additional 28,875 shares during the period. CIBC Private Wealth Group LLC lifted its position in shares of Tractor Supply by 385.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,089,542 shares of the specialty retailer’s stock worth $59,260,000 after purchasing an additional 865,273 shares during the period. BOK Financial Private Wealth Inc. lifted its position in shares of Tractor Supply by 330.2% in the 4th quarter. BOK Financial Private Wealth Inc. now owns 21,355 shares of the specialty retailer’s stock worth $1,133,000 after purchasing an additional 16,391 shares during the period. Gen Wealth Partners Inc raised its stake in shares of Tractor Supply by 513.8% during the 4th quarter. Gen Wealth Partners Inc now owns 14,320 shares of the specialty retailer’s stock worth $760,000 after acquiring an additional 11,987 shares in the last quarter. Finally, Blueshift Asset Management LLC raised its stake in shares of Tractor Supply by 571.8% during the 4th quarter. Blueshift Asset Management LLC now owns 66,815 shares of the specialty retailer’s stock worth $3,545,000 after acquiring an additional 56,870 shares in the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on TSCO. UBS Group set a $54.00 price objective on shares of Tractor Supply in a research note on Friday, April 25th. JPMorgan Chase & Co. reduced their price objective on shares of Tractor Supply from $59.00 to $56.00 and set a “neutral” rating for the company in a research note on Monday, April 28th. Mizuho reduced their price objective on shares of Tractor Supply from $62.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Guggenheim reduced their price objective on shares of Tractor Supply from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Finally, Robert W. Baird reduced their price objective on shares of Tractor Supply from $63.00 to $56.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $58.02.

Tractor Supply Trading Down 0.2%

Shares of Tractor Supply stock 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 fifty day moving average price of $51.65 and a 200 day moving average price of $54.08. Tractor Supply has a 1 year low of $46.85 and a 1 year high of $61.53. The stock has a market cap of $28.05 billion, a PE ratio of 25.94, a price-to-earnings-growth ratio of 2.95 and a beta of 0.82.

Tractor Supply (NASDAQ:TSCO) last issued its 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 business had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.55 billion. During the same period last year, the business earned $1.83 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities research analysts predict that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th will be issued 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 1.74%. Tractor Supply’s dividend payout ratio (DPR) is presently 45.77%.

Tractor Supply announced that its board has approved a stock buyback plan on Thursday, February 13th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the specialty retailer to buy up to 3.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, SVP Matthew L. Rubin sold 2,810 shares of the firm’s 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 transaction, the senior vice president now owns 29,722 shares of the company’s stock, valued at $1,538,410.72. This trade represents a 8.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.65% of the stock is currently owned by corporate insiders.

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.