Horizon Investments LLC Raises Stock Position in Tractor Supply (NASDAQ:TSCO)

Horizon Investments LLC boosted its position in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 423.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,418 shares of the specialty retailer's stock after acquiring an additional 7,618 shares during the period. Horizon Investments LLC's holdings in Tractor Supply were worth $500,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Smithfield Trust Co raised its position in shares of Tractor Supply by 286.2% during the 4th quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock valued at $25,000 after purchasing 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 in the last quarter. Future Financial Wealth Managment LLC raised its holdings in Tractor Supply by 400.0% during the fourth quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer's stock valued at $27,000 after acquiring an additional 400 shares during the period. Archer Investment Corp lifted its position in shares of Tractor Supply by 400.0% in the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock valued at $27,000 after acquiring an additional 400 shares in the last quarter. Finally, Kentucky Trust Co bought a new position in shares of Tractor Supply in the fourth quarter worth about $27,000. Hedge funds and other institutional investors own 98.72% of the company's stock.

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Analyst Ratings Changes

TSCO has been the topic of several recent analyst reports. Truist Financial reduced their price objective on shares of Tractor Supply from $63.00 to $60.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Telsey Advisory Group reiterated an "outperform" rating and issued a $67.00 price target on shares of Tractor Supply in a research note on Thursday, January 30th. Bank of America increased their price objective on shares of Tractor Supply from $44.00 to $53.00 and gave the company an "underperform" rating in a report on Thursday, January 16th. Guggenheim reaffirmed a "buy" rating and issued a $60.00 target price on shares of Tractor Supply in a report on Friday, January 31st. Finally, Wells Fargo & Company dropped their price target on Tractor Supply from $65.00 to $64.00 and set an "overweight" rating for the company in a research note on Monday, November 25th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Tractor Supply presently has a consensus rating of "Moderate Buy" and an average target price of $59.22.

Tractor Supply Trading Down 1.3 %

Shares of NASDAQ:TSCO traded down $0.70 during trading hours on Tuesday, hitting $52.83. 3,243,357 shares of the company's stock traded hands, compared to its average volume of 5,245,101. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. The business has a fifty day moving average price of $55.01 and a 200-day moving average price of $55.68. Tractor Supply has a 1 year low of $48.30 and a 1 year high of $61.53. The firm has a market capitalization of $28.21 billion, a P/E ratio of 25.90, 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 earnings per share for the quarter, missing analysts' consensus estimates of $2.28 by ($1.84). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. Equities analysts expect that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were issued a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 6.97%. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. Tractor Supply's dividend payout ratio is currently 45.10%.

Tractor Supply declared that its board has approved a stock buyback program on Thursday, February 13th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the specialty retailer to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its stock is undervalued.

Insider Transactions at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of the firm's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $57.69, for a total transaction of $222,106.50. Following the transaction, the senior vice president now owns 31,787 shares of the company's stock, valued at approximately $1,833,792.03. This trade represents a 10.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Melissa Kersey sold 9,300 shares of the business'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 approximately $1,858,876.37. This represents a 21.01 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 137,993 shares of company stock valued at $7,538,068. 0.24% of the stock is currently owned by corporate 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.