Tractor Supply (NASDAQ:TSCO) Shares Acquired by Thurston Springer Miller Herd & Titak Inc.

Thurston Springer Miller Herd & Titak Inc. grew its stake in Tractor Supply (NASDAQ:TSCO) by 30.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,849 shares of the specialty retailer’s stock after purchasing an additional 7,014 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in Tractor Supply were worth $1,645,000 at the end of the most recent reporting period.

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

Tractor Supply Stock Up 0.6%

Shares of NASDAQ:TSCO opened at $49.34 on Thursday. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. Tractor Supply has a 52-week low of $46.85 and a 52-week high of $61.53. The stock’s fifty day simple moving average is $50.85 and its 200-day simple moving average is $53.56. The company has a market capitalization of $26.16 billion, a P/E ratio of 24.19, a P/E/G ratio of 2.95 and a beta of 0.74.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings data 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 analysts’ expectations of $3.55 billion. During the same quarter in the prior year, the company earned $1.83 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts forecast that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply announced that its Board of Directors has initiated a stock buyback 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 stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Tractor Supply Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th will be given a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $0.92 annualized dividend and a dividend yield of 1.86%. Tractor Supply’s dividend payout ratio is currently 45.77%.

Insider Activity

In other news, SVP Matthew L. Rubin sold 2,810 shares of the company’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $51.76, for a total value of $145,445.60. Following the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.65% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on TSCO. Stephens began coverage on Tractor Supply in a research note on Wednesday, April 9th. They issued an “equal weight” rating and a $56.00 price target on the stock. Robert W. Baird decreased their price target on Tractor Supply from $63.00 to $56.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Guggenheim decreased their price target on Tractor Supply from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. UBS Group set a $54.00 price target on Tractor Supply in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. decreased their price target on Tractor Supply from $59.00 to $56.00 and set a “neutral” rating on the stock in a research note on Monday, April 28th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.