Axxcess Wealth Management LLC Increases Holdings in Tractor Supply (NASDAQ:TSCO)

Axxcess Wealth Management LLC increased its holdings in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 345.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,040 shares of the specialty retailer's stock after buying an additional 28,718 shares during the period. Axxcess Wealth Management LLC's holdings in Tractor Supply were worth $1,965,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in TSCO. Providence Capital Advisors LLC purchased a new position in Tractor Supply during the third quarter valued at $32,000. Larson Financial Group LLC raised its position in shares of Tractor Supply by 29.4% during the 3rd quarter. Larson Financial Group LLC now owns 286 shares of the specialty retailer's stock worth $83,000 after purchasing an additional 65 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in Tractor Supply by 13.2% in the 3rd quarter. First Horizon Advisors Inc. now owns 351 shares of the specialty retailer's stock valued at $102,000 after buying an additional 41 shares in the last quarter. Icon Wealth Advisors LLC acquired a new stake in Tractor Supply in the 3rd quarter worth about $111,000. Finally, Glen Eagle Advisors LLC increased its stake in Tractor Supply by 75.8% during the 3rd quarter. Glen Eagle Advisors LLC now owns 464 shares of the specialty retailer's stock worth $135,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company's stock.

Insider Activity at Tractor Supply

In related news, CEO Harry A. Lawton III sold 88,095 shares of the company'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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Colin Yankee sold 24,602 shares of the business's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $54.15, for a total value of $1,332,198.30. Following the transaction, the executive vice president now directly owns 33,645 shares of the company's stock, valued at $1,821,876.75. The trade was a 42.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 137,993 shares of company stock worth $7,538,068. 0.24% of the stock is currently owned by company insiders.

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Tractor Supply Trading Up 2.0 %

TSCO traded up $1.07 on Monday, hitting $53.53. The company had a trading volume of 3,391,244 shares, compared to its average volume of 4,899,696. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. The firm has a market cap of $28.59 billion, a P/E ratio of 26.24, a PEG ratio of 2.95 and a beta of 0.85. The company's fifty day moving average price is $55.03 and its 200 day moving average price is $55.69. Tractor Supply has a 1 year low of $48.30 and a 1 year high of $61.53.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 EPS 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, equities analysts expect that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply announced that its Board of Directors has approved a share buyback plan on Thursday, February 13th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the specialty retailer to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its stock is undervalued.

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were paid a $0.92 dividend. The ex-dividend date was Wednesday, February 26th. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. This represents a $3.68 dividend on an annualized basis and a dividend yield of 6.87%. Tractor Supply's payout ratio is presently 45.10%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TSCO shares. Wells Fargo & Company lowered their price target on Tractor Supply from $65.00 to $64.00 and set an "overweight" rating on the stock in a research note on Monday, November 25th. Guggenheim reaffirmed a "buy" rating and set a $60.00 target price on shares of Tractor Supply in a research note on Friday, January 31st. Loop Capital increased their target price 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. Truist Financial decreased 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 note on Friday, January 31st. 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 note on Friday, January 31st. Two analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $59.22.

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.