Richwood Investment Advisors LLC Purchases 23,411 Shares of Tractor Supply (NASDAQ:TSCO)

Richwood Investment Advisors LLC increased its stake in Tractor Supply (NASDAQ:TSCO - Free Report) by 439.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,735 shares of the specialty retailer's stock after purchasing an additional 23,411 shares during the quarter. Tractor Supply makes up 1.3% of Richwood Investment Advisors LLC's investment portfolio, making the stock its 17th largest holding. Richwood Investment Advisors LLC's holdings in Tractor Supply were worth $1,525,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of TSCO. Optimum Investment Advisors grew its position in Tractor Supply by 400.0% during the 4th quarter. Optimum Investment Advisors now owns 8,650 shares of the specialty retailer's stock worth $459,000 after purchasing an additional 6,920 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Tractor Supply during the fourth quarter valued at $9,570,000. AXQ Capital LP acquired a new position in Tractor Supply during the fourth quarter valued at $663,000. Sei Investments Co. lifted its stake in Tractor Supply by 587.4% in the 4th quarter. Sei Investments Co. now owns 312,630 shares of the specialty retailer's stock worth $16,588,000 after acquiring an additional 267,147 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in Tractor Supply by 633.2% during the 4th quarter. American Century Companies Inc. now owns 2,715,001 shares of the specialty retailer's stock worth $144,058,000 after acquiring an additional 2,344,729 shares during the period. Institutional investors and hedge funds own 98.72% of the company's stock.

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Tractor Supply Stock Performance

Shares of TSCO traded up $0.29 during trading hours on Thursday, reaching $54.16. 4,651,444 shares of the company traded hands, compared to its average volume of 4,895,340. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. The stock's fifty day moving average is $55.03 and its 200 day moving average is $55.65. Tractor Supply has a 1-year low of $48.30 and a 1-year high of $61.53. The stock has a market cap of $28.92 billion, a P/E ratio of 26.55, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 EPS for the quarter, missing the consensus estimate of $2.28 by ($1.84). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. Equities research analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply announced that its Board of Directors has authorized a share repurchase plan on Thursday, February 13th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the specialty retailer to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its stock is 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 $0.92 dividend. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. This represents a $3.68 annualized dividend and a yield of 6.79%. The ex-dividend date of this dividend was Wednesday, February 26th. Tractor Supply's dividend payout ratio (DPR) is 45.10%.

Insiders Place Their Bets

In other news, EVP Melissa Kersey sold 9,300 shares of the firm'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 transaction, the executive vice president now directly owns 34,961 shares of the company's stock, valued at approximately $1,858,876.37. This trade represents a 21.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Matthew L. Rubin sold 3,850 shares of the company'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 completion of the sale, the senior vice president now directly owns 31,787 shares in the company, valued at approximately $1,833,792.03. The trade was a 10.80 % decrease in their position. 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 90 days. Corporate insiders own 0.58% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TSCO. Truist Financial dropped their target price on Tractor Supply from $63.00 to $60.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Mizuho increased their target price on shares of Tractor Supply from $60.00 to $62.00 and gave the stock an "outperform" rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. upped their price target on shares of Tractor Supply from $58.00 to $59.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Bank of America upped their target price on Tractor Supply from $44.00 to $53.00 and gave the stock an "underperform" rating in a research report on Thursday, January 16th. Finally, Telsey Advisory Group reiterated an "outperform" rating and set a $67.00 price target on shares of Tractor Supply in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $59.22.

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.