Kesler Norman & Wride LLC boosted its stake in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 537.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,840 shares of the specialty retailer's stock after purchasing an additional 14,197 shares during the quarter. Kesler Norman & Wride LLC's holdings in Tractor Supply were worth $894,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Glen Eagle Advisors LLC grew its stake in Tractor Supply by 75.8% in the 3rd quarter. Glen Eagle Advisors LLC now owns 464 shares of the specialty retailer's stock valued at $135,000 after buying an additional 200 shares during the last quarter. Smithfield Trust Co grew its position 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 valued at $25,000 after purchasing an additional 352 shares during the last quarter. Future Financial Wealth Managment LLC grew its position in shares of Tractor Supply by 400.0% in the fourth quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer's stock valued at $27,000 after purchasing an additional 400 shares during the last quarter. Archer Investment Corp increased its stake 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 purchasing an additional 400 shares during the period. Finally, PrairieView Partners LLC boosted 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 valued at $26,000 after purchasing an additional 400 shares during the period. 98.72% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research firms have weighed in on TSCO. JPMorgan Chase & Co. increased their price objective on Tractor Supply from $58.00 to $59.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Guggenheim reaffirmed a "buy" rating and set a $60.00 price target on shares of Tractor Supply in a research report on Friday, January 31st. Loop Capital boosted their price objective on shares of Tractor Supply from $53.00 to $58.00 and gave the company a "hold" rating in a report on Thursday, December 12th. Bank of America raised their target price on shares of Tractor Supply from $44.00 to $53.00 and gave the stock an "underperform" rating in a report on Thursday, January 16th. Finally, Truist Financial dropped their price target on shares of Tractor Supply from $63.00 to $60.00 and set a "buy" rating for the company in a research report on Friday, January 31st. 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 assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.22.
View Our Latest Research Report on TSCO
Insider Transactions at Tractor Supply
In other Tractor Supply 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 transaction of $494,481.00. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 stock was sold at an average price of $54.59, for a total value of $4,809,106.05. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,993 shares of company stock worth $7,538,068 over the last ninety days. 0.24% of the stock is owned by insiders.
Tractor Supply Price Performance
Shares of Tractor Supply stock traded down $3.37 during midday trading on Friday, hitting $52.40. 7,533,363 shares of the company traded hands, compared to its average volume of 5,086,192. The firm's fifty day moving average price is $54.84 and its 200-day moving average price is $55.61. The stock has a market cap of $27.86 billion, a price-to-earnings ratio of 25.69, a PEG ratio of 2.95 and a beta of 0.88. Tractor Supply has a 12 month low of $48.30 and a 12 month high of $61.53. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43.
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 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 forecast that Tractor Supply will post 2.17 earnings per share for the current year.
Tractor Supply Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders 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 annualized dividend and a dividend yield of 7.02%. Tractor Supply's dividend payout ratio is presently 45.10%.
Tractor Supply declared that its Board of Directors has initiated a stock buyback plan on Thursday, February 13th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the specialty retailer to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued.
Tractor Supply Company Profile
(
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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