Fernwood Investment Management LLC grew its holdings in Tractor Supply (NASDAQ:TSCO - Free Report) by 400.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,825 shares of the specialty retailer's stock after buying an additional 6,260 shares during the period. Fernwood Investment Management LLC's holdings in Tractor Supply were worth $415,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in TSCO. Smithfield Trust Co raised its holdings in shares of Tractor Supply by 286.2% in the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock worth $25,000 after buying an additional 352 shares during the period. PrairieView Partners LLC increased its stake in Tractor Supply by 400.0% in the 4th quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer's stock worth $26,000 after buying an additional 400 shares during the period. Future Financial Wealth Managment LLC grew its stake in Tractor Supply by 400.0% in the 4th quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer's stock worth $27,000 after acquiring an additional 400 shares in the last quarter. Archer Investment Corp increased its position in shares of Tractor Supply by 400.0% during the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock worth $27,000 after acquiring an additional 400 shares during the period. Finally, Kentucky Trust Co purchased a new stake in shares of Tractor Supply in the fourth quarter valued at approximately $27,000. 98.72% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the stock. Stephens started coverage on shares of Tractor Supply in a report on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 price objective on the stock. Truist Financial reduced their price target on Tractor Supply from $63.00 to $60.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Guggenheim reiterated a "buy" rating and set a $60.00 price objective on shares of Tractor Supply in a report on Friday, January 31st. Bank of America boosted their target price on Tractor Supply from $44.00 to $53.00 and gave the stock an "underperform" rating in a research note on Thursday, January 16th. Finally, Mizuho upped their target price on Tractor Supply from $60.00 to $62.00 and gave the company an "outperform" rating in a research report on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $59.07.
Read Our Latest Stock Analysis on TSCO
Tractor Supply Stock Down 0.1 %
Shares of NASDAQ TSCO traded down $0.03 during mid-day trading on Monday, hitting $51.64. The company had a trading volume of 1,232,329 shares, compared to its average volume of 5,114,215. The company has a market capitalization of $27.45 billion, a PE ratio of 25.31, a price-to-earnings-growth ratio of 2.95 and a beta of 0.88. The business's 50-day simple moving average is $54.07 and its 200 day simple moving average is $55.35. Tractor Supply has a 1-year low of $46.97 and a 1-year high of $61.53. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20.
Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its 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 return on equity of 49.01% and a net margin of 7.40%. On average, analysts predict that Tractor Supply will post 2.17 earnings per share 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 paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 7.13%. The ex-dividend date of this dividend was Wednesday, February 26th. This is an increase from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's payout ratio is 45.10%.
Tractor Supply announced that its board has initiated a stock buyback program on Thursday, February 13th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to buy up to 3.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its shares are undervalued.
Insider Buying and Selling
In other news, EVP Melissa Kersey sold 9,300 shares of the company's stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 34,961 shares in the company, valued at approximately $1,858,876.37. This represents a 21.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Harry A. Lawton III sold 88,095 shares of the company's stock in a transaction 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 sale, the chief executive officer now directly owns 488,852 shares in the company, valued at $26,686,430.68. This represents 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 worth $7,538,068 in the last three months. Corporate insiders own 0.24% of the company's stock.
About Tractor Supply
(
Free Report)
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.
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