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

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

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pacific Center for Financial Services bought a new position in Tractor Supply in the first quarter valued at approximately $26,000. Compass Wealth Management LLC acquired a new position in Tractor Supply during the fourth quarter worth $25,000. OFI Invest Asset Management acquired a new position in Tractor Supply during the third quarter worth $25,000. ST Germain D J Co. Inc. acquired a new position in Tractor Supply during the second quarter worth $29,000. Finally, VisionPoint Advisory Group LLC increased its holdings in Tractor Supply by 105.6% during the third 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 last quarter. Institutional investors own 98.72% of the company’s stock.

Insider Activity

In other news, SVP Matthew L. Rubin sold 725 shares of Tractor Supply stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $238.09, for a total transaction of $172,615.25. Following the transaction, the senior vice president now directly owns 5,710 shares of the company’s stock, valued at approximately $1,359,493.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Tractor Supply news, SVP Matthew L. Rubin sold 725 shares of Tractor Supply stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $238.09, for a total value of $172,615.25. Following the sale, the senior vice president now owns 5,710 shares of the company’s stock, valued at approximately $1,359,493.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Robert D. Mills sold 48,334 shares of Tractor Supply stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $232.23, for a total value of $11,224,604.82. Following the completion of the sale, the executive vice president now directly owns 22,167 shares in the company, valued at approximately $5,147,842.41. The disclosure for this sale can be found here. Insiders have sold a total of 90,090 shares of company stock valued at $21,201,877 in the last ninety days. Corporate insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Evercore ISI upped their price objective on shares of Tractor Supply from $270.00 to $280.00 and gave the company an “outperform” rating in a report on Tuesday. Mizuho initiated coverage on shares of Tractor Supply in a report on Tuesday, March 19th. They issued a “neutral” rating and a $245.00 price objective on the stock. Wells Fargo & Company upped their price target on shares of Tractor Supply from $250.00 to $285.00 and gave the company an “overweight” rating in a research note on Monday. Morgan Stanley restated an “underweight” rating and issued a $195.00 price target on shares of Tractor Supply in a research note on Tuesday, January 16th. Finally, The Goldman Sachs Group upped their price objective 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. 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, Tractor Supply currently has a consensus rating of “Hold” and a consensus price target of $238.91.

Tractor Supply Stock Performance

NASDAQ TSCO traded up $0.10 during trading hours on Thursday, hitting $260.54. The company’s stock had a trading volume of 75,393 shares, compared to its average volume of 1,182,354. Tractor Supply has a 12 month low of $185.00 and a 12 month high of $268.02. The company’s 50 day simple moving average is $242.55 and its two-hundred day simple moving average is $219.60. The company has a market cap of $28.12 billion, a P/E ratio of 25.81, a price-to-earnings-growth ratio of 3.88 and a beta of 0.84. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.50 and a quick ratio of 0.28.

Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Thursday, February 1st. The specialty retailer reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.06. The business had revenue of $3.66 billion for the quarter, compared to analysts’ expectations 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 for the quarter was down 8.6% on a year-over-year basis. During the same period last year, the firm posted $2.43 earnings per share. As a group, sell-side analysts expect that Tractor Supply will post 10.19 EPS for the current fiscal 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 given a dividend of $1.10 per share. This is a boost 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 1.69%. The ex-dividend date was Friday, February 23rd. Tractor Supply’s payout ratio is presently 43.61%.

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.