Heritage Trust Co Invests $1.83 Million in Tractor Supply (NASDAQ:TSCO)

Heritage Trust Co bought a new stake in shares of Tractor Supply (NASDAQ:TSCO - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 34,465 shares of the specialty retailer's stock, valued at approximately $1,829,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TSCO. Smithfield Trust Co boosted its position in shares of Tractor Supply by 286.2% during the 4th quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock valued at $25,000 after acquiring an additional 352 shares during the last quarter. PrairieView Partners LLC raised its position in shares of Tractor Supply by 400.0% during the 4th quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer's stock valued at $26,000 after buying an additional 400 shares in the last quarter. Future Financial Wealth Managment LLC lifted its holdings in shares of Tractor Supply by 400.0% in the 4th quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer's stock valued at $27,000 after acquiring an additional 400 shares during the last quarter. Archer Investment Corp grew its position in Tractor Supply by 400.0% in the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock worth $27,000 after acquiring an additional 400 shares in the last quarter. Finally, Kentucky Trust Co purchased a new stake in Tractor Supply during the fourth quarter valued at approximately $27,000. 98.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tractor Supply

In other news, SVP Matthew L. Rubin sold 3,850 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $57.69, for a total transaction of $222,106.50. Following the transaction, the senior vice president now directly owns 31,787 shares in the company, valued at $1,833,792.03. The trade was a 10.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Melissa Kersey sold 9,300 shares of Tractor Supply stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $53.17, for a total value of $494,481.00. Following the transaction, the executive vice president now owns 34,961 shares in the company, valued at approximately $1,858,876.37. The trade was a 21.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 137,993 shares of company stock valued at $7,538,068 over the last quarter. 0.24% of the stock is currently owned by insiders.

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Tractor Supply Stock Performance

TSCO stock traded up $0.50 during midday trading on Monday, hitting $52.17. 3,863,662 shares of the stock traded hands, compared to its average volume of 5,124,226. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. Tractor Supply has a 1-year low of $46.97 and a 1-year high of $61.53. The stock's fifty day simple moving average is $54.07 and its 200-day simple moving average is $55.35. The firm has a market cap of $27.73 billion, a P/E ratio of 25.57, a PEG ratio of 2.95 and a beta of 0.88.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 EPS for the quarter, missing analysts' consensus estimates of $2.28 by ($1.84). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. On average, analysts expect that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply declared that its Board of Directors has approved a share repurchase program on Thursday, February 13th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the specialty retailer to purchase up to 3.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were issued a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 7.05%. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. Tractor Supply's payout ratio is presently 45.10%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Truist Financial lowered their target price on shares of Tractor Supply from $63.00 to $60.00 and set a "buy" rating for the company in a report on Friday, January 31st. Bank of America raised their price target on Tractor Supply from $44.00 to $53.00 and gave the stock an "underperform" rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. lifted their target price on Tractor Supply from $58.00 to $59.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Guggenheim reaffirmed a "buy" rating and issued a $60.00 price target on shares of Tractor Supply in a research note on Friday, January 31st. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and set a $67.00 target price on shares of Tractor Supply in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $59.07.

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.