Advisor Resource Council Makes New $245,000 Investment in Tractor Supply Company (NASDAQ:TSCO)

Advisor Resource Council acquired a new stake in Tractor Supply Company (NASDAQ:TSCO) during the first quarter, Holdings Channel reports. The fund acquired 4,440 shares of the specialty retailer’s stock, valued at approximately $245,000.

Other institutional investors have also made changes to their positions in the company. Private Advisor Group LLC grew its stake in shares of Tractor Supply by 550.9% in the fourth quarter. Private Advisor Group LLC now owns 50,071 shares of the specialty retailer’s stock worth $2,657,000 after acquiring an additional 42,378 shares in the last quarter. ING Groep NV acquired a new stake in shares of Tractor Supply in the 4th quarter worth $835,000. Sigma Planning Corp grew its holdings in Tractor Supply by 477.0% during the fourth quarter. Sigma Planning Corp now owns 24,446 shares of the specialty retailer’s stock worth $1,297,000 after acquiring an additional 20,209 shares during the period. Pinnacle Financial Partners Inc raised its holdings in Tractor Supply by 403.1% during the fourth quarter. Pinnacle Financial Partners Inc now owns 5,690 shares of the specialty retailer’s stock worth $302,000 after purchasing an additional 4,559 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its position in shares of Tractor Supply by 381.5% during the 4th quarter. First Horizon Advisors Inc. now owns 1,690 shares of the specialty retailer’s stock worth $90,000 after purchasing an additional 1,339 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Tractor Supply Stock Performance

NASDAQ:TSCO opened at $53.66 on Tuesday. The stock’s 50-day moving average is $50.74 and its 200-day moving average is $53.11. The stock has a market cap of $28.45 billion, a P/E ratio of 26.64, a price-to-earnings-growth ratio of 2.83 and a beta of 0.74. Tractor Supply Company has a 1-year low of $46.85 and a 1-year high of $61.53. The company has a current ratio of 1.41, a quick ratio of 0.17 and a debt-to-equity ratio of 0.94.

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 analysts’ consensus estimates of $0.37 by ($0.03). Tractor Supply had a return on equity of 47.56% and a net margin of 7.24%. The business had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter in the previous year, the company posted $1.83 earnings per share. Tractor Supply’s quarterly revenue was up 2.1% on a year-over-year basis. Equities research analysts anticipate that Tractor Supply Company will post 2.17 earnings per share for the current year.

Tractor Supply Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were paid a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.92 dividend on an annualized basis and a yield of 1.71%. Tractor Supply’s dividend payout ratio (DPR) is presently 45.77%.

Insider Buying and Selling

In related news, SVP Matthew L. Rubin sold 2,810 shares of the company’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 transaction, the senior vice president now directly owns 29,722 shares in the company, valued at approximately $1,538,410.72. This represents a 8.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.65% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently commented on TSCO. Raymond James Financial dropped their target price on Tractor Supply from $61.00 to $57.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Wall Street Zen lowered Tractor Supply from a “hold” rating to a “sell” rating in a research report on Friday, June 6th. Telsey Advisory Group set a $60.00 target price on shares of Tractor Supply in a report on Friday, April 25th. Stephens assumed coverage on Tractor Supply in a research note on Wednesday, April 9th. They set an “equal weight” rating and a $56.00 price objective for the company. Finally, JPMorgan Chase & Co. decreased their target price on shares of Tractor Supply from $59.00 to $56.00 and set a “neutral” rating for the company in a research report on Monday, April 28th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, 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.