Cannon Advisors Inc. Has $577,000 Holdings in Tractor Supply (NASDAQ:TSCO)

Cannon Advisors Inc. increased its stake in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 330.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,870 shares of the specialty retailer's stock after acquiring an additional 8,347 shares during the quarter. Cannon Advisors Inc.'s holdings in Tractor Supply were worth $577,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. OLD Mission Capital LLC bought a new position in Tractor Supply during the fourth quarter valued at about $4,068,000. Geode Capital Management LLC grew its holdings in shares of Tractor Supply by 403.2% during the 4th quarter. Geode Capital Management LLC now owns 14,519,937 shares of the specialty retailer's stock worth $768,838,000 after purchasing an additional 11,634,249 shares in the last quarter. StoneX Group Inc. acquired a new stake in shares of Tractor Supply during the 4th quarter worth approximately $848,000. Nemes Rush Group LLC increased its position in shares of Tractor Supply by 528.9% during the fourth quarter. Nemes Rush Group LLC now owns 25,149 shares of the specialty retailer's stock valued at $1,334,000 after purchasing an additional 21,150 shares during the period. Finally, National Bank of Canada FI raised its stake in shares of Tractor Supply by 253.0% in the fourth quarter. National Bank of Canada FI now owns 174,379 shares of the specialty retailer's stock valued at $9,255,000 after purchasing an additional 124,975 shares in the last quarter. Institutional investors own 98.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. 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. Guggenheim reaffirmed a "buy" rating and set a $60.00 price objective on shares of Tractor Supply in a report on Friday, January 31st. Mizuho increased their target price on Tractor Supply from $60.00 to $62.00 and gave the stock an "outperform" rating in a report on Thursday, January 23rd. Bank of America boosted their price target on Tractor Supply from $44.00 to $53.00 and gave the company an "underperform" rating in a research note on Thursday, January 16th. Finally, Loop Capital increased their price objective on Tractor Supply from $53.00 to $58.00 and gave the stock a "hold" rating in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Tractor Supply currently has a consensus rating of "Moderate Buy" and an average target price of $59.22.

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Insider Transactions at Tractor Supply

In other news, EVP Colin Yankee sold 24,602 shares of the firm's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $54.15, for a total transaction of $1,332,198.30. Following the sale, the executive vice president now owns 33,645 shares of the company's stock, valued at $1,821,876.75. This trade represents a 42.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $54.59, for a total value of $4,809,106.05. Following the transaction, the chief executive officer now owns 488,852 shares in the company, valued at $26,686,430.68. This trade represents a 15.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 137,993 shares of company stock valued at $7,538,068 over the last three months. 0.24% of the stock is currently owned by corporate insiders.

Tractor Supply Trading Up 0.9 %

TSCO stock traded up $0.49 during midday trading on Wednesday, reaching $55.62. The company's stock had a trading volume of 3,242,451 shares, compared to its average volume of 5,064,176. The business's 50-day simple moving average is $54.98 and its 200-day simple moving average is $55.64. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. Tractor Supply has a 52 week low of $48.30 and a 52 week high of $61.53. The stock has a market cap of $29.70 billion, a PE ratio of 27.26, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced 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 return on equity of 49.01% and a net margin of 7.40%. As a group, sell-side analysts expect that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 6.62%. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, February 26th. Tractor Supply's dividend payout ratio (DPR) is currently 45.10%.

Tractor Supply declared that its Board of Directors has authorized a share buyback plan on Thursday, February 13th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the specialty retailer to buy 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 stock is undervalued.

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.