Signature Wealth Management Group Grows Holdings in Tractor Supply (NASDAQ:TSCO)

Signature Wealth Management Group raised its stake in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 410.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,309 shares of the specialty retailer's stock after buying an additional 29,994 shares during the quarter. Signature Wealth Management Group's holdings in Tractor Supply were worth $1,980,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. First National Advisers LLC raised its holdings in shares of Tractor Supply by 40.3% in the 4th quarter. First National Advisers LLC now owns 6,110 shares of the specialty retailer's stock valued at $324,000 after purchasing an additional 1,754 shares during the period. Glenview Trust co raised its stake in Tractor Supply by 750.8% in the fourth quarter. Glenview Trust co now owns 15,288 shares of the specialty retailer's stock valued at $811,000 after buying an additional 13,491 shares during the period. Patten & Patten Inc. TN lifted its position in shares of Tractor Supply by 389.8% in the fourth quarter. Patten & Patten Inc. TN now owns 373,615 shares of the specialty retailer's stock valued at $19,824,000 after buying an additional 297,334 shares during the last quarter. Harbour Investments Inc. increased its holdings in shares of Tractor Supply by 397.5% during the 4th quarter. Harbour Investments Inc. now owns 4,766 shares of the specialty retailer's stock worth $253,000 after acquiring an additional 3,808 shares during the last quarter. Finally, Corient Private Wealth LLC raised its stake in Tractor Supply by 405.0% in the 4th quarter. Corient Private Wealth LLC now owns 866,509 shares of the specialty retailer's stock valued at $45,977,000 after acquiring an additional 694,912 shares during the period. Institutional investors own 98.72% of the company's stock.

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Insider Activity at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of the 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 transaction, the senior vice president now owns 31,787 shares in the company, valued at $1,833,792.03. This trade represents a 10.80 % decrease in their ownership of the stock. 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 business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $54.59, for a total transaction of $4,809,106.05. Following the completion of the sale, the chief executive officer now directly owns 488,852 shares in the company, 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. Over the last 90 days, insiders sold 137,993 shares of company stock worth $7,538,068. 0.24% of the stock is owned by company insiders.

Tractor Supply Trading Down 1.8 %

Tractor Supply stock traded down $0.96 during trading hours on Thursday, hitting $51.84. The stock had a trading volume of 3,083,910 shares, compared to its average volume of 4,908,744. The business's 50 day simple moving average is $55.12 and its 200-day simple moving average is $55.70. Tractor Supply has a one year low of $48.30 and a one year high of $61.53. The stock has a market cap of $27.68 billion, a price-to-earnings ratio of 25.41, a P/E/G ratio of 2.95 and a beta of 0.85. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released 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 net margin of 7.40% and a return on equity of 49.01%. On average, equities analysts predict that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply announced that its board has initiated a stock buyback plan on Thursday, February 13th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the specialty retailer to buy up to 3.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

Tractor Supply Increases Dividend

The firm also recently declared 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. This represents a $3.68 dividend on an annualized basis and a dividend yield of 7.10%. This is an increase from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. Tractor Supply's dividend payout ratio (DPR) is presently 45.10%.

Wall Street Analyst Weigh In

Several equities analysts have commented on TSCO shares. Mizuho upped their price objective on shares of Tractor Supply from $60.00 to $62.00 and gave the company an "outperform" rating in a report on Thursday, January 23rd. Guggenheim reiterated a "buy" rating and issued a $60.00 price target on shares of Tractor Supply in a research note on Friday, January 31st. Wells Fargo & Company cut their price objective on shares of Tractor Supply from $65.00 to $64.00 and set an "overweight" rating for the company in a research report on Monday, November 25th. Bank of America upped their target price on Tractor Supply from $44.00 to $53.00 and gave the company an "underperform" rating in a research report on Thursday, January 16th. Finally, Barclays lowered their target price on Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Monday, December 30th. Two research 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. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price 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.