Argent Trust Co Raises Holdings in Tractor Supply (NASDAQ:TSCO)

Argent Trust Co grew its stake in Tractor Supply (NASDAQ:TSCO - Free Report) by 400.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,820 shares of the specialty retailer's stock after acquiring an additional 6,256 shares during the quarter. Argent Trust Co's holdings in Tractor Supply were worth $415,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of TSCO. CIBC Private Wealth Group LLC increased its holdings in shares of Tractor Supply by 385.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,089,542 shares of the specialty retailer's stock worth $59,260,000 after acquiring an additional 865,273 shares in the last quarter. BOK Financial Private Wealth Inc. lifted its position in Tractor Supply by 330.2% in the 4th quarter. BOK Financial Private Wealth Inc. now owns 21,355 shares of the specialty retailer's stock valued at $1,133,000 after acquiring an additional 16,391 shares in the last quarter. Blueshift Asset Management LLC raised its stake in shares of Tractor Supply by 571.8% in the 4th quarter. Blueshift Asset Management LLC now owns 66,815 shares of the specialty retailer's stock valued at $3,545,000 after purchasing an additional 56,870 shares during the period. Callan Family Office LLC acquired a new position in shares of Tractor Supply during the fourth quarter worth about $503,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Tractor Supply by 379.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 890,898 shares of the specialty retailer's stock worth $47,271,000 after buying an additional 704,896 shares in the last quarter. Institutional investors own 98.72% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on TSCO. Truist Financial dropped their price target on shares of Tractor Supply from $63.00 to $60.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Stephens initiated coverage on Tractor Supply in a report on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 price target for the company. Guggenheim restated a "buy" rating and issued a $60.00 price objective on shares of Tractor Supply in a research note on Friday, January 31st. Barclays reduced their target price on Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating for the company in a research note on Monday, December 30th. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and set a $67.00 price objective on shares of Tractor Supply in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $59.07.

Insider Buying and Selling at Tractor Supply

In related news, CEO Harry A. Lawton III sold 88,095 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $54.59, for a total value of $4,809,106.05. Following the sale, the chief executive officer now directly owns 488,852 shares of the company's stock, valued at $26,686,430.68. This represents a 15.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Matthew L. Rubin sold 3,850 shares of the company's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $57.69, for a total transaction of $222,106.50. Following the completion of the sale, the senior vice president now directly owns 31,787 shares in the company, valued at $1,833,792.03. This represents a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 137,993 shares of company stock valued at $7,538,068. 0.24% of the stock is currently owned by company insiders.

Tractor Supply Trading Up 1.5 %

NASDAQ:TSCO traded up $0.75 during trading hours on Friday, reaching $50.11. The company's stock had a trading volume of 4,481,903 shares, compared to its average volume of 5,113,095. The firm has a 50-day simple moving average of $53.84 and a 200-day simple moving average of $55.19. Tractor Supply has a 1 year low of $46.97 and a 1 year high of $61.53. The firm has a market capitalization of $26.64 billion, a price-to-earnings ratio of 24.56, a PEG ratio of 2.95 and a beta of 0.88. 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 (NASDAQ:TSCO - Get Free Report) last announced its quarterly earnings results 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 net margin of 7.40% and a return on equity of 49.01%. Research analysts expect that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were paid a $0.92 dividend. This is a positive change from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a yield of 7.34%. Tractor Supply's dividend payout ratio (DPR) is presently 45.10%.

Tractor Supply declared that its board has initiated a stock repurchase program on Thursday, February 13th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the specialty retailer to buy up to 3.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board of directors believes its shares are undervalued.

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.