Congress Wealth Management LLC DE Raises Stake in Tractor Supply (NASDAQ:TSCO)

Congress Wealth Management LLC DE raised its stake in Tractor Supply (NASDAQ:TSCO - Free Report) by 415.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 412,353 shares of the specialty retailer's stock after purchasing an additional 332,277 shares during the quarter. Congress Wealth Management LLC DE owned 0.08% of Tractor Supply worth $21,879,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Baldwin Investment Management LLC grew its position in Tractor Supply by 0.3% during the third quarter. Baldwin Investment Management LLC now owns 11,402 shares of the specialty retailer's stock valued at $3,317,000 after buying an additional 38 shares during the period. First Horizon Advisors Inc. grew its position in shares of Tractor Supply by 13.2% during the 3rd quarter. First Horizon Advisors Inc. now owns 351 shares of the specialty retailer's stock valued at $102,000 after acquiring an additional 41 shares during the period. Cynosure Group LLC raised its holdings in shares of Tractor Supply by 2.8% in the 3rd quarter. Cynosure Group LLC now owns 1,529 shares of the specialty retailer's stock worth $445,000 after purchasing an additional 42 shares during the period. Larson Financial Group LLC lifted its stake in Tractor Supply by 29.4% in the third quarter. Larson Financial Group LLC now owns 286 shares of the specialty retailer's stock valued at $83,000 after purchasing an additional 65 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co grew its holdings in Tractor Supply by 7.1% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 978 shares of the specialty retailer's stock valued at $285,000 after purchasing an additional 65 shares during the period. Institutional investors own 98.72% of the company's stock.

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Insider Activity at Tractor Supply

In other news, EVP Melissa Kersey sold 9,300 shares of the company's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $53.17, for a total transaction of $494,481.00. Following the completion of the sale, the executive vice president now owns 34,961 shares of the company's stock, valued at $1,858,876.37. This represents a 21.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Matthew L. Rubin sold 3,850 shares of the firm'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 completion of the transaction, the senior vice president now directly owns 31,787 shares in the company, valued at approximately $1,833,792.03. The trade was a 10.80 % decrease in their position. 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. 0.58% of the stock is owned by insiders.

Tractor Supply Trading Down 1.3 %

Shares of Tractor Supply stock traded down $0.69 on Friday, hitting $53.47. The stock had a trading volume of 3,599,669 shares, compared to its average volume of 5,054,910. The stock's 50-day simple moving average is $55.03 and its two-hundred day simple moving average is $55.64. Tractor Supply has a one year low of $48.30 and a one year high of $61.53. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. The stock has a market cap of $28.55 billion, a price-to-earnings ratio of 26.21, a PEG ratio of 2.95 and a beta of 0.85.

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, sell-side analysts predict that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply declared that its board has authorized a stock buyback plan on Thursday, February 13th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to repurchase up to 3.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board believes its shares are undervalued.

Tractor Supply Increases Dividend

The company 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 boost 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 6.88%. Tractor Supply's payout ratio is presently 45.10%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Bank of America boosted their target price on Tractor Supply from $44.00 to $53.00 and gave the company an "underperform" rating in a research note on Thursday, January 16th. Guggenheim reaffirmed a "buy" rating and issued a $60.00 price target on shares of Tractor Supply in a report on Friday, January 31st. Truist Financial dropped their price objective on Tractor Supply from $63.00 to $60.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Loop Capital lifted their target price on Tractor Supply from $53.00 to $58.00 and gave the company a "hold" rating in a report on Thursday, December 12th. Finally, Barclays cut their price objective on shares of Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating for the company in a research report on Monday, December 30th. Two equities research 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's stock. According to MarketBeat.com, Tractor Supply currently has an average rating of "Moderate Buy" and an average price target of $59.22.

Tractor Supply Company 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.