Garden State Investment Advisory Services LLC Buys 6,140 Shares of Tractor Supply (NASDAQ:TSCO)

Garden State Investment Advisory Services LLC lifted its holdings in Tractor Supply (NASDAQ:TSCO - Free Report) by 354.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,870 shares of the specialty retailer's stock after purchasing an additional 6,140 shares during the period. Garden State Investment Advisory Services LLC's holdings in Tractor Supply were worth $418,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of TSCO. NewEdge Advisors LLC boosted its holdings in shares of Tractor Supply by 413.0% in the 4th quarter. NewEdge Advisors LLC now owns 807,931 shares of the specialty retailer's stock valued at $42,869,000 after buying an additional 650,443 shares during the period. United Capital Financial Advisors LLC boosted its stake in shares of Tractor Supply by 287.1% in the 4th quarter. United Capital Financial Advisors LLC now owns 268,769 shares of the specialty retailer's stock valued at $14,261,000 after purchasing an additional 199,333 shares in the last quarter. Gamco Investors INC. ET AL lifted its position in Tractor Supply by 396.1% during the 4th quarter. Gamco Investors INC. ET AL now owns 252,000 shares of the specialty retailer's stock valued at $13,371,000 after purchasing an additional 201,200 shares during the period. Gabelli Funds LLC lifted its stake in Tractor Supply by 393.7% in the fourth quarter. Gabelli Funds LLC now owns 117,500 shares of the specialty retailer's stock valued at $6,235,000 after buying an additional 93,700 shares in the last quarter. Finally, Jump Financial LLC lifted its holdings in Tractor Supply by 23,356.5% during the 4th quarter. Jump Financial LLC now owns 312,206 shares of the specialty retailer's stock valued at $16,566,000 after purchasing an additional 310,875 shares during the last quarter. Hedge funds and other institutional investors own 98.72% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Truist Financial reduced their price target on shares of Tractor Supply from $63.00 to $60.00 and set a "buy" rating for the company in a report on Friday, January 31st. Barclays lowered their price objective on shares of Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating on the stock in a research report on Monday, December 30th. Stephens initiated coverage on shares of Tractor Supply in a research note on Wednesday, April 9th. They issued an "equal weight" rating and a $56.00 target price on the stock. JPMorgan Chase & Co. upped their target price on Tractor Supply from $58.00 to $59.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Finally, Bank of America upped their price target on Tractor Supply from $44.00 to $53.00 and gave the company an "underperform" rating in a research report on Thursday, January 16th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Tractor Supply has a consensus rating of "Moderate Buy" and a consensus target price of $59.07.

Tractor Supply Price Performance

TSCO traded down $0.78 during midday trading on Monday, reaching $49.38. 1,196,814 shares of the company's stock were exchanged, compared to its average volume of 5,261,690. Tractor Supply has a one year low of $46.97 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 business has a 50-day simple moving average of $53.74 and a two-hundred day simple moving average of $55.07. The firm has a market capitalization of $26.25 billion, a price-to-earnings ratio of 24.21, a price-to-earnings-growth ratio of 2.95 and a beta of 0.88.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its quarterly earnings results 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, research analysts predict that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 7.45%. This is an increase 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 initiated a stock repurchase plan on Thursday, February 13th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the specialty retailer to buy up to 3.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's board believes its stock is undervalued.

Insider Transactions at Tractor Supply

In other news, SVP Matthew L. Rubin sold 3,850 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total transaction of $222,106.50. Following the sale, the senior vice president now owns 31,787 shares of the company's stock, valued at $1,833,792.03. This trade represents a 10.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Harry A. Lawton III sold 88,095 shares of the firm'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 approximately $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 137,993 shares of company stock valued at $7,538,068 over the last quarter. 0.65% of the stock is currently owned by company insiders.

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.