Wedmont Private Capital Has $450,000 Stock Position in Tractor Supply (NASDAQ:TSCO)

Wedmont Private Capital grew its position in Tractor Supply (NASDAQ:TSCO) by 2.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,714 shares of the specialty retailer’s stock after buying an additional 212 shares during the quarter. Wedmont Private Capital’s holdings in Tractor Supply were worth $450,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Tractor Supply by 392.5% during the fourth quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer’s stock worth $3,397,643,000 after purchasing an additional 51,031,178 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Tractor Supply by 401.8% during the fourth quarter. Wellington Management Group LLP now owns 23,789,249 shares of the specialty retailer’s stock worth $1,262,258,000 after purchasing an additional 19,048,385 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Tractor Supply by 403.3% during the fourth quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer’s stock worth $1,180,932,000 after purchasing an additional 17,834,643 shares during the period. Capital World Investors boosted its holdings in shares of Tractor Supply by 403.7% during the fourth quarter. Capital World Investors now owns 19,433,135 shares of the specialty retailer’s stock worth $1,031,122,000 after purchasing an additional 15,575,311 shares during the period. Finally, Capital International Investors boosted its holdings in shares of Tractor Supply by 334.7% during the fourth quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer’s stock worth $818,421,000 after purchasing an additional 11,880,010 shares during the period. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Tractor Supply Trading Up 1.9%

Shares of Tractor Supply stock opened at $51.48 on Wednesday. Tractor Supply has a 1 year low of $46.85 and a 1 year high of $61.53. The company’s fifty day simple moving average is $50.50 and its 200-day simple moving average is $53.44. The company has a market cap of $27.29 billion, a price-to-earnings ratio of 25.24, a PEG ratio of 2.95 and a beta of 0.74. 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 (NASDAQ:TSCO) last announced 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). The business had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.55 billion. Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned $1.83 EPS. As a group, sell-side analysts expect that Tractor Supply will post 2.17 EPS for the current year.

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

Tractor Supply Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.79%. The ex-dividend date was Wednesday, May 28th. Tractor Supply’s dividend payout ratio (DPR) is presently 45.77%.

Insider Buying and Selling at Tractor Supply

In other news, SVP Matthew L. Rubin sold 2,810 shares of the company’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $51.76, for a total value of $145,445.60. Following the sale, the senior vice president now owns 29,722 shares of the company’s stock, valued at approximately $1,538,410.72. This represents a 8.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Stephens assumed coverage on shares of Tractor Supply in a report on Wednesday, April 9th. They set an “equal weight” rating and a $56.00 price target for the company. Telsey Advisory Group set a $60.00 price objective on shares of Tractor Supply in a research report on Friday, April 25th. Robert W. Baird cut their price objective on shares of Tractor Supply from $63.00 to $56.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Raymond James cut their price objective on shares of Tractor Supply from $61.00 to $57.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Finally, Mizuho cut their price objective on shares of Tractor Supply from $62.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock 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.