Trustcore Financial Services LLC Invests $53,000 in Tractor Supply (TSCO)

Trustcore Financial Services LLC bought a new position in shares of Tractor Supply (NASDAQ:TSCO) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 540 shares of the specialty retailer’s stock, valued at approximately $53,000.

Other hedge funds have also made changes to their positions in the company. State of Tennessee Treasury Department grew its holdings in shares of Tractor Supply by 35.1% during the fourth quarter. State of Tennessee Treasury Department now owns 181,833 shares of the specialty retailer’s stock worth $15,172,000 after purchasing an additional 47,239 shares during the last quarter. Psagot Investment House Ltd. bought a new stake in shares of Tractor Supply during the fourth quarter worth $35,000. Foothills Asset Management Ltd. bought a new stake in shares of Tractor Supply during the first quarter worth $2,234,000. First Hawaiian Bank grew its holdings in shares of Tractor Supply by 42.8% during the first quarter. First Hawaiian Bank now owns 9,187 shares of the specialty retailer’s stock worth $898,000 after purchasing an additional 2,753 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Tractor Supply by 66.8% during the fourth quarter. Millennium Management LLC now owns 505,942 shares of the specialty retailer’s stock worth $42,216,000 after purchasing an additional 202,673 shares during the last quarter. Institutional investors own 83.54% of the company’s stock.

Several brokerages have recently commented on TSCO. Barclays increased their target price on Tractor Supply from $100.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday. Wells Fargo & Co reiterated a “buy” rating and issued a $102.00 price target on shares of Tractor Supply in a report on Monday, February 11th. Telsey Advisory Group reiterated a “market perform” rating and issued a $98.00 price target (up previously from $92.00) on shares of Tractor Supply in a report on Monday, April 22nd. BidaskClub cut Tractor Supply from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 6th. Finally, Wedbush raised their price target on Tractor Supply from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $98.42.

NASDAQ:TSCO traded down $0.36 during mid-day trading on Friday, hitting $100.68. The company had a trading volume of 1,070,065 shares, compared to its average volume of 1,349,872. Tractor Supply has a fifty-two week low of $71.81 and a fifty-two week high of $107.98. The company has a current ratio of 1.58, a quick ratio of 0.15 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $12.19 billion, a price-to-earnings ratio of 23.36, a PEG ratio of 1.87 and a beta of 1.11.

Tractor Supply (NASDAQ:TSCO) last released its earnings results on Thursday, April 25th. The specialty retailer reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.07. Tractor Supply had a return on equity of 36.16% and a net margin of 6.68%. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the prior year, the firm posted $0.57 earnings per share. The company’s quarterly revenue was up 8.3% on a year-over-year basis. Sell-side analysts predict that Tractor Supply will post 4.76 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 28th will be paid a $0.35 dividend. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Friday, May 24th. This represents a $1.40 annualized dividend and a yield of 1.39%. Tractor Supply’s dividend payout ratio is presently 28.77%.

In other Tractor Supply news, CEO Gregory A. Sandfort sold 25,896 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $95.00, for a total value of $2,460,120.00. Following the transaction, the chief executive officer now owns 117,554 shares of the company’s stock, valued at $11,167,630. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Gregory A. Sandfort sold 74,667 shares of the stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $105.00, for a total value of $7,840,035.00. Following the completion of the transaction, the chief executive officer now directly owns 166,325 shares in the company, valued at approximately $17,464,125. The disclosure for this sale can be found here. Insiders sold 375,062 shares of company stock worth $37,903,170 in the last three months. Insiders own 1.50% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This news story was originally reported by Baseball Daily News and is the sole property of of Baseball Daily News. If you are accessing this news story on another site, it was stolen and reposted in violation of United States & international copyright & trademark law. The legal version of this news story can be viewed at https://www.baseballdailydigest.com/news/2019/05/18/trustcore-financial-services-llc-invests-53000-in-tractor-supply-tsco.html.

Tractor Supply Profile

Tractor Supply Company operates rural lifestyle retail stores in the United States. The company offers a selection of merchandise, including equine, livestock, pet, and small animal products necessary for their health, care, growth, and containment; hardware, truck, towing, and tool products; seasonal products, such as heating products, lawn and garden items, power equipment, gifts, and toys; work/recreational clothing and footwear; and maintenance products for agricultural and rural use.

Featured Article: Analyst Ratings Trading

Want to see what other hedge funds are holding TSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tractor Supply (NASDAQ:TSCO).

Institutional Ownership by Quarter for Tractor Supply (NASDAQ:TSCO)

Receive News & Ratings for Tractor Supply Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tractor Supply and related companies with MarketBeat.com's FREE daily email newsletter.