Procyon Advisors LLC Has $928,000 Position in Tractor Supply (NASDAQ:TSCO)

Procyon Advisors LLC increased its stake in shares of Tractor Supply (NASDAQ:TSCO) by 7.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,314 shares of the specialty retailer’s stock after purchasing an additional 295 shares during the quarter. Procyon Advisors LLC’s holdings in Tractor Supply were worth $928,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in TSCO. Vanguard Group Inc. raised its position in shares of Tractor Supply by 0.4% in the first quarter. Vanguard Group Inc. now owns 12,833,541 shares of the specialty retailer’s stock valued at $2,994,964,000 after purchasing an additional 46,672 shares during the period. BlackRock Inc. raised its position in shares of Tractor Supply by 4.4% in the second quarter. BlackRock Inc. now owns 10,080,496 shares of the specialty retailer’s stock valued at $2,228,798,000 after purchasing an additional 429,199 shares during the period. State Street Corp raised its position in shares of Tractor Supply by 2.4% in the second quarter. State Street Corp now owns 4,568,376 shares of the specialty retailer’s stock valued at $1,010,068,000 after purchasing an additional 108,622 shares during the period. Wellington Management Group LLP raised its position in shares of Tractor Supply by 9,370.6% in the third quarter. Wellington Management Group LLP now owns 2,822,151 shares of the specialty retailer’s stock valued at $573,038,000 after purchasing an additional 2,792,352 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Tractor Supply by 2.9% during the first quarter. JPMorgan Chase & Co. now owns 2,820,992 shares of the specialty retailer’s stock worth $663,049,000 after acquiring an additional 79,240 shares during the period. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Tractor Supply Stock Up 0.0 %

NASDAQ:TSCO traded up $0.10 during trading hours on Thursday, reaching $260.54. 75,393 shares of the stock were exchanged, compared to its average volume of 1,182,354. Tractor Supply has a twelve month low of $185.00 and a twelve month high of $268.02. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.50 and a quick ratio of 0.28. The firm has a 50 day moving average of $242.55 and a 200 day moving average of $219.60. The stock has a market cap of $28.12 billion, a PE ratio of 25.81, a PEG ratio of 3.88 and a beta of 0.84.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, February 1st. The specialty retailer reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.06. The firm had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.67 billion. Tractor Supply had a return on equity of 53.60% and a net margin of 7.61%. The business’s revenue was down 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.43 EPS. On average, equities analysts expect that Tractor Supply will post 10.19 earnings per share for the current year.

Tractor Supply Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were issued a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend was Friday, February 23rd. This is an increase from Tractor Supply’s previous quarterly dividend of $1.03. Tractor Supply’s dividend payout ratio is presently 43.61%.

Insider Activity

In other Tractor Supply news, EVP Robert D. Mills sold 48,334 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $232.23, for a total transaction of $11,224,604.82. Following the completion of the sale, the executive vice president now owns 22,167 shares of the company’s stock, valued at approximately $5,147,842.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tractor Supply news, EVP Robert D. Mills sold 48,334 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $232.23, for a total transaction of $11,224,604.82. Following the transaction, the executive vice president now owns 22,167 shares in the company, valued at approximately $5,147,842.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Harry A. Lawton III sold 20,500 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $232.93, for a total value of $4,775,065.00. Following the transaction, the chief executive officer now owns 95,192 shares in the company, valued at approximately $22,173,072.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 90,090 shares of company stock valued at $21,201,877. 0.24% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Evercore ISI boosted their target price on shares of Tractor Supply from $270.00 to $280.00 and gave the stock an “outperform” rating in a research report on Tuesday. Raymond James downgraded shares of Tractor Supply from a “strong-buy” rating to an “outperform” rating and boosted their target price for the company from $230.00 to $250.00 in a research note on Friday, February 2nd. Bank of America downgraded shares of Tractor Supply from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $207.00 to $171.00 in a research note on Friday, December 15th. The Goldman Sachs Group upped their price target on shares of Tractor Supply from $230.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Finally, Wells Fargo & Company upped their price target on shares of Tractor Supply from $250.00 to $285.00 and gave the stock an “overweight” rating in a research report on Monday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $238.91.

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.