Callan Family Office LLC Acquires New Shares in Tractor Supply (NASDAQ:TSCO)

Callan Family Office LLC purchased a new stake in shares of Tractor Supply (NASDAQ:TSCO - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,483 shares of the specialty retailer's stock, valued at approximately $503,000.

Other hedge funds also recently bought and sold shares of the company. Blueshift Asset Management LLC boosted its holdings in Tractor Supply by 32.7% during the third quarter. Blueshift Asset Management LLC now owns 9,945 shares of the specialty retailer's stock valued at $2,893,000 after acquiring an additional 2,452 shares during the period. Mutual of America Capital Management LLC boosted its holdings in Tractor Supply by 16.5% during the third quarter. Mutual of America Capital Management LLC now owns 27,336 shares of the specialty retailer's stock valued at $7,953,000 after acquiring an additional 3,863 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Tractor Supply by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 631,406 shares of the specialty retailer's stock valued at $183,695,000 after acquiring an additional 8,142 shares during the period. Metis Global Partners LLC boosted its holdings in Tractor Supply by 495.1% during the fourth quarter. Metis Global Partners LLC now owns 30,485 shares of the specialty retailer's stock valued at $1,618,000 after acquiring an additional 25,362 shares during the period. Finally, Ethos Financial Group LLC boosted its holdings in Tractor Supply by 402.6% during the fourth quarter. Ethos Financial Group LLC now owns 5,860 shares of the specialty retailer's stock valued at $311,000 after acquiring an additional 4,694 shares during the period. 98.72% of the stock is currently owned by institutional investors.

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Insider Activity

In other Tractor Supply news, EVP Melissa Kersey sold 9,300 shares of the firm's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $53.17, for a total value of $494,481.00. Following the transaction, the executive vice president now directly owns 34,961 shares of the company's stock, valued at approximately $1,858,876.37. This trade represents a 21.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Harry A. Lawton III sold 88,095 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $54.59, for a total transaction of $4,809,106.05. Following the completion of the transaction, the chief executive officer now directly owns 488,852 shares in the company, valued at approximately $26,686,430.68. The trade was a 15.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,993 shares of company stock valued at $7,538,068 over the last three months. 0.24% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on TSCO shares. Guggenheim reaffirmed a "buy" rating and set a $60.00 price objective on shares of Tractor Supply in a research report on Friday, January 31st. Mizuho upped their price objective on shares of Tractor Supply from $60.00 to $62.00 and gave the company an "outperform" rating in a research report on Thursday, January 23rd. Truist Financial cut their price objective on shares of Tractor Supply from $63.00 to $60.00 and set a "buy" rating for the company in a research report on Friday, January 31st. Loop Capital upped their price objective on shares of Tractor Supply from $53.00 to $58.00 and gave the company a "hold" rating in a research report on Thursday, December 12th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Tractor Supply from $58.00 to $59.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $59.22.

Tractor Supply Price Performance

Shares of NASDAQ TSCO traded up $0.32 during mid-day trading on Monday, hitting $57.21. 7,439,652 shares of the stock were exchanged, compared to its average volume of 5,384,312. The company has a market cap of $30.55 billion, a P/E ratio of 28.04, a PEG ratio of 2.95 and a beta of 0.85. The stock's fifty day simple moving average is $55.20 and its two-hundred day simple moving average is $55.79. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. Tractor Supply has a twelve month low of $48.30 and a twelve month high of $61.53.

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

Tractor Supply declared that its Board of Directors has initiated a share repurchase plan on Thursday, February 13th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the specialty retailer to purchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th will be paid a dividend of $0.92 per share. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. This represents a $3.68 annualized dividend and a dividend yield of 6.43%. The ex-dividend date of this dividend is Wednesday, February 26th. Tractor Supply's dividend payout ratio is 45.10%.

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.