PAX Financial Group LLC Has $778,000 Holdings in Tractor Supply (NASDAQ:TSCO)

PAX Financial Group LLC lifted its holdings in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 384.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,668 shares of the specialty retailer's stock after purchasing an additional 11,643 shares during the period. PAX Financial Group LLC's holdings in Tractor Supply were worth $778,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Pine Valley Investments Ltd Liability Co increased its position 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 worth $285,000 after purchasing an additional 65 shares during the last quarter. Synergy Financial Group LTD boosted its holdings in Tractor Supply by 12.4% in the third quarter. Synergy Financial Group LTD now owns 1,090 shares of the specialty retailer's stock valued at $317,000 after acquiring an additional 120 shares during the last quarter. Glen Eagle Advisors LLC grew its position in Tractor Supply by 75.8% during the third quarter. Glen Eagle Advisors LLC now owns 464 shares of the specialty retailer's stock valued at $135,000 after acquiring an additional 200 shares during the period. Wahed Invest LLC increased its stake in Tractor Supply by 13.7% during the third quarter. Wahed Invest LLC now owns 2,619 shares of the specialty retailer's stock worth $762,000 after acquiring an additional 315 shares during the last quarter. Finally, Smithfield Trust Co raised its holdings in shares of Tractor Supply by 286.2% in the 4th quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock worth $25,000 after purchasing an additional 352 shares during the period. 98.72% of the stock is currently owned by institutional investors and hedge funds.

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Tractor Supply Stock Performance

TSCO traded down $0.06 during midday trading on Wednesday, reaching $47.96. The company's stock had a trading volume of 1,529,748 shares, compared to its average volume of 5,099,633. Tractor Supply has a twelve month low of $47.06 and a twelve month high of $61.53. The stock has a market cap of $25.50 billion, a P/E ratio of 23.50, a PEG ratio of 2.95 and a beta of 0.88. The company has a fifty day simple moving average of $54.30 and a 200 day simple moving average of $55.48. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share (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%. Research analysts expect that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply declared that its Board of Directors has initiated a share buyback plan on Thursday, February 13th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the specialty retailer to repurchase up to 3.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its shares are undervalued.

Tractor Supply Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were given a dividend of $0.92 per share. The ex-dividend date was Wednesday, February 26th. This is an increase from Tractor Supply's previous quarterly dividend of $0.22. This represents a $3.68 dividend on an annualized basis and a yield of 7.67%. Tractor Supply's dividend payout ratio (DPR) is 45.10%.

Insider Activity at Tractor Supply

In related 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 value of $494,481.00. Following the sale, the executive vice president now owns 34,961 shares of the company's stock, valued at $1,858,876.37. The trade was a 21.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply stock in a transaction that occurred on Monday, February 3rd. The shares were 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 in the company, valued at $26,686,430.68. The trade was 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 over the last three months. Company insiders own 0.24% of the company's stock.

Analysts Set New Price Targets

TSCO has been the topic of several research reports. Guggenheim restated a "buy" rating and issued a $60.00 price target on shares of Tractor Supply in a report on Friday, January 31st. Truist Financial decreased 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. Loop Capital raised their price objective on Tractor Supply from $53.00 to $58.00 and gave the company a "hold" rating in a research report on Thursday, December 12th. Mizuho boosted their price objective on Tractor Supply from $60.00 to $62.00 and gave the stock an "outperform" rating in a research note on Thursday, January 23rd. Finally, Bank of America increased 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. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $59.07.

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.