Islay Capital Management LLC Lowers Stock Holdings in Tractor Supply (NASDAQ:TSCO)

Islay Capital Management LLC decreased its position in shares of Tractor Supply (NASDAQ:TSCO) by 18.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,868 shares of the specialty retailer’s stock after selling 888 shares during the period. Islay Capital Management LLC’s holdings in Tractor Supply were worth $832,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TSCO. Field & Main Bank increased its holdings in shares of Tractor Supply by 29.4% in the fourth quarter. Field & Main Bank now owns 2,533 shares of the specialty retailer’s stock worth $545,000 after buying an additional 575 shares during the period. Kestra Private Wealth Services LLC increased its holdings in shares of Tractor Supply by 15.4% in the fourth quarter. Kestra Private Wealth Services LLC now owns 17,114 shares of the specialty retailer’s stock worth $3,680,000 after buying an additional 2,285 shares during the period. Fernwood Investment Management LLC increased its holdings in shares of Tractor Supply by 4.3% in the fourth quarter. Fernwood Investment Management LLC now owns 1,565 shares of the specialty retailer’s stock worth $337,000 after buying an additional 65 shares during the period. Mather Group LLC. increased its holdings in shares of Tractor Supply by 9.8% in the fourth quarter. Mather Group LLC. now owns 3,219 shares of the specialty retailer’s stock worth $692,000 after buying an additional 288 shares during the period. Finally, Monumental Financial Group Inc. increased its holdings in shares of Tractor Supply by 1.7% in the fourth quarter. Monumental Financial Group Inc. now owns 5,188 shares of the specialty retailer’s stock worth $1,116,000 after buying an additional 89 shares during the period. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Stock Performance

TSCO traded down $3.89 during midday trading on Tuesday, hitting $273.99. 402,220 shares of the company traded hands, compared to its average volume of 1,161,336. The company has a quick ratio of 0.19, a current ratio of 1.40 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $29.57 billion, a PE ratio of 27.06, a price-to-earnings-growth ratio of 3.47 and a beta of 0.84. The company’s 50-day moving average is $253.27 and its 200 day moving average is $227.47. Tractor Supply has a 52 week low of $185.00 and a 52 week high of $279.38.

Tractor Supply (NASDAQ:TSCO) last posted its earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.13. The business had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.40 billion. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.65 EPS. On average, research analysts expect that Tractor Supply will post 10.26 EPS for the current year.

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were paid a dividend of $1.10 per share. The ex-dividend date was Friday, February 23rd. This represents a $4.40 annualized dividend and a yield of 1.61%. This is a boost from Tractor Supply’s previous quarterly dividend of $1.03. Tractor Supply’s dividend payout ratio is currently 42.84%.

Insider Buying and Selling at Tractor Supply

In other news, CFO Kurt D. Barton sold 4,335 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $257.00, for a total value of $1,114,095.00. Following the transaction, the chief financial officer now owns 20,678 shares in the company, valued at approximately $5,314,246. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Jonathan S. Estep sold 7,120 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $232.26, for a total value of $1,653,691.20. Following the completion of the sale, the executive vice president now directly owns 13,605 shares of the company’s stock, valued at approximately $3,159,897.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kurt D. Barton sold 4,335 shares of the stock in a transaction that occurred 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 directly owns 20,678 shares of the company’s stock, valued at $5,314,246. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,090 shares of company stock worth $21,201,877. Company insiders own 0.58% of the company’s stock.

Wall Street Analysts Forecast Growth

TSCO has been the topic of several recent analyst reports. Stephens cut Tractor Supply from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $226.00 to $240.00 in a research note on Tuesday, January 23rd. UBS Group raised their target price on Tractor Supply from $220.00 to $240.00 and gave the stock a “neutral” rating in a research note on Friday, February 2nd. Evercore ISI raised their target price on Tractor Supply from $275.00 to $280.00 and gave the stock an “outperform” rating in a research note on Friday. Piper Sandler raised their target price on Tractor Supply from $265.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Morgan Stanley raised their target price on Tractor Supply from $195.00 to $235.00 and gave the company an “underweight” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Tractor Supply currently has an average rating of “Hold” and a consensus target price of $250.00.

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.