Provident Trust Co. Acquires 204,695 Shares of Tractor Supply (NASDAQ:TSCO)

Provident Trust Co. lifted its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 47.0% during the 4th quarter, Holdings Channel reports. The firm owned 640,603 shares of the specialty retailer’s stock after purchasing an additional 204,695 shares during the quarter. Tractor Supply comprises 2.8% of Provident Trust Co.’s holdings, making the stock its 15th largest position. Provident Trust Co.’s holdings in Tractor Supply were worth $137,749,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TSCO. OFI Invest Asset Management acquired a new position in Tractor Supply during the 3rd quarter worth approximately $25,000. Pinnacle Bancorp Inc. acquired a new position in Tractor Supply during the 4th quarter worth approximately $28,000. VisionPoint Advisory Group LLC raised its stake in Tractor Supply by 105.6% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 148 shares of the specialty retailer’s stock worth $30,000 after buying an additional 76 shares during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Tractor Supply during the 3rd quarter worth approximately $33,000. Finally, Cetera Trust Company N.A purchased a new stake in shares of Tractor Supply in the fourth quarter worth approximately $38,000. Institutional investors own 98.72% of the company’s stock.

Wall Street Analysts Forecast Growth

TSCO has been the subject of several analyst reports. Guggenheim increased their price objective on Tractor Supply from $210.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Morgan Stanley increased their price objective on Tractor Supply from $195.00 to $235.00 and gave the stock an “underweight” rating in a research note on Friday. Telsey Advisory Group reissued an “outperform” rating and issued a $275.00 price objective on shares of Tractor Supply in a research note on Thursday. Benchmark reissued a “buy” rating and issued a $256.00 price objective on shares of Tractor Supply in a research note on Monday, April 22nd. Finally, Wedbush reissued a “neutral” rating and issued a $235.00 price objective on shares of Tractor Supply in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $248.17.

Insider Transactions at Tractor Supply

In other news, CFO Kurt D. Barton sold 4,335 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $257.00, for a total value of $1,114,095.00. Following the completion of the transaction, the chief financial officer now directly owns 20,678 shares of the company’s stock, valued at $5,314,246. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Kurt D. Barton sold 4,335 shares of Tractor Supply stock in a transaction on Friday, March 15th. The stock was sold at an average price of $257.00, for a total transaction of $1,114,095.00. Following the completion of the sale, the chief financial officer now owns 20,678 shares of the company’s stock, valued at $5,314,246. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Colin Yankee sold 8,675 shares of Tractor Supply stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $250.00, for a total value of $2,168,750.00. Following the sale, the executive vice president now directly owns 9,673 shares of the company’s stock, valued at approximately $2,418,250. The disclosure for this sale can be found here. Insiders sold 90,090 shares of company stock valued at $21,201,877 over the last three months. Company insiders own 0.24% of the company’s stock.

Tractor Supply Stock Performance

NASDAQ TSCO traded up $8.64 on Friday, hitting $273.90. 1,599,528 shares of the stock traded hands, compared to its average volume of 1,032,605. The business’s fifty day moving average is $252.44 and its two-hundred day moving average is $226.59. Tractor Supply has a 12 month low of $185.00 and a 12 month high of $274.66. The firm has a market capitalization of $29.56 billion, a price-to-earnings ratio of 26.67, a PEG ratio of 3.97 and a beta of 0.84. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.28 and a current ratio of 1.40.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.13. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.40 billion. During the same period last year, the company earned $1.65 earnings per share. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, equities analysts anticipate that Tractor Supply will post 10.23 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were issued a $1.10 dividend. This is a positive change from Tractor Supply’s previous quarterly dividend of $1.03. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Friday, February 23rd. Tractor Supply’s dividend payout ratio (DPR) is presently 42.84%.

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.