Providence Capital Advisors LLC Buys Shares of 111 Tractor Supply (NASDAQ:TSCO)

Providence Capital Advisors LLC bought a new position in Tractor Supply (NASDAQ:TSCO) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 111 shares of the specialty retailer’s stock, valued at approximately $32,000.

Other hedge funds also recently made changes to their positions in the company. First Commonwealth Financial Corp PA boosted its stake in shares of Tractor Supply by 7.0% during the third quarter. First Commonwealth Financial Corp PA now owns 3,263 shares of the specialty retailer’s stock valued at $949,000 after purchasing an additional 213 shares in the last quarter. Blueshift Asset Management LLC raised its holdings in Tractor Supply by 32.7% in the 3rd quarter. Blueshift Asset Management LLC now owns 9,945 shares of the specialty retailer’s stock valued at $2,893,000 after buying an additional 2,452 shares during the last quarter. Cynosure Group LLC raised its holdings in Tractor Supply by 2.8% in the 3rd quarter. Cynosure Group LLC now owns 1,529 shares of the specialty retailer’s stock valued at $445,000 after buying an additional 42 shares during the last quarter. Townsquare Capital LLC boosted its position in Tractor Supply by 12.2% during the 3rd quarter. Townsquare Capital LLC now owns 19,794 shares of the specialty retailer’s stock worth $5,759,000 after buying an additional 2,160 shares during the period. Finally, Baldwin Investment Management LLC grew its holdings in Tractor Supply by 0.3% during the 3rd quarter. Baldwin Investment Management LLC now owns 11,402 shares of the specialty retailer’s stock worth $3,317,000 after acquiring an additional 38 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TSCO. Truist Financial cut their price target on shares of Tractor Supply from $325.00 to $317.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Wells Fargo & Company decreased their price target on Tractor Supply from $325.00 to $320.00 and set an “overweight” rating for the company in a research note on Monday. Barclays upped their target price on Tractor Supply from $240.00 to $250.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Raymond James raised their price target on shares of Tractor Supply from $285.00 to $290.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, Gordon Haskett cut shares of Tractor Supply from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, October 24th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $282.59.

Tractor Supply Stock Up 0.6 %

TSCO stock opened at $281.96 on Thursday. The firm has a market capitalization of $30.12 billion, a PE ratio of 27.43, a P/E/G ratio of 3.59 and a beta of 0.82. The stock’s 50 day moving average is $284.30 and its 200-day moving average is $275.74. Tractor Supply has a twelve month low of $197.00 and a twelve month high of $307.64. The company has a quick ratio of 0.17, a current ratio of 1.48 and a debt-to-equity ratio of 0.81.

Tractor Supply Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be paid a $1.10 dividend. The ex-dividend date is Monday, November 25th. This represents a $4.40 annualized dividend and a dividend yield of 1.56%. Tractor Supply’s payout ratio is 42.80%.

Insider Activity

In other news, CFO Kurt D. Barton sold 23,532 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total value of $6,957,000.48. Following the completion of the transaction, the chief financial officer now directly owns 9,683 shares of the company’s stock, valued at $2,862,682.12. This represents a 70.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.58% of the stock is currently owned by corporate insiders.

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.