SouthState Corp Purchases 26,467 Shares of Tractor Supply (NASDAQ:TSCO)

SouthState Corp lifted its position in Tractor Supply (NASDAQ:TSCO - Free Report) by 749.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,000 shares of the specialty retailer's stock after purchasing an additional 26,467 shares during the quarter. SouthState Corp's holdings in Tractor Supply were worth $1,592,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions 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 buying an additional 352 shares in the last quarter. PrairieView Partners LLC increased its position in shares of Tractor Supply by 400.0% during 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 last quarter. Future Financial Wealth Managment LLC raised its holdings in shares of Tractor Supply by 400.0% during the 4th quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer's stock valued at $27,000 after buying an additional 400 shares in the last quarter. Archer Investment Corp lifted its position in Tractor Supply by 400.0% in the 4th quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock worth $27,000 after buying an additional 400 shares during the last quarter. Finally, Kentucky Trust Co purchased a new stake in Tractor Supply in the fourth quarter worth approximately $27,000. Hedge funds and other institutional investors own 98.72% of the company's stock.

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Tractor Supply Stock Up 1.2 %

NASDAQ:TSCO traded up $0.62 during trading hours on Friday, reaching $52.46. 6,332,634 shares of the company traded hands, compared to its average volume of 4,915,676. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. The business's 50-day moving average price is $55.07 and its two-hundred day moving average price is $55.67. Tractor Supply has a 1 year low of $48.30 and a 1 year high of $61.53. The stock has a market capitalization of $28.01 billion, a P/E ratio of 25.72, a P/E/G 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.28 by ($1.84). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. Analysts predict that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply announced that its Board of Directors has approved a share 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 purchase up to 3.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's management believes its shares are undervalued.

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were issued a $0.92 dividend. This is a positive change from Tractor Supply's previous quarterly dividend of $0.22. This represents a $3.68 dividend on an annualized basis and a yield of 7.01%. The ex-dividend date of this dividend was Wednesday, February 26th. Tractor Supply's payout ratio is presently 45.10%.

Insider Activity at Tractor Supply

In other Tractor Supply news, 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 transaction, the senior vice president now owns 31,787 shares in the company, valued at approximately $1,833,792.03. This represents a 10.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 stock was 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 owns 488,852 shares of the company's stock, valued at $26,686,430.68. This represents a 15.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 137,993 shares of company stock valued at $7,538,068. 0.24% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TSCO. Telsey Advisory Group reiterated an "outperform" rating and issued a $67.00 target price on shares of Tractor Supply in a research report on Thursday, January 30th. Mizuho lifted their target price on shares of Tractor Supply from $60.00 to $62.00 and gave the stock an "outperform" rating in a research note on Thursday, January 23rd. Bank of America increased their price target on shares of Tractor Supply from $44.00 to $53.00 and gave the company an "underperform" rating in a research report on Thursday, January 16th. Guggenheim restated a "buy" rating and issued a $60.00 price objective on shares of Tractor Supply in a research report on Friday, January 31st. Finally, Loop Capital increased their target price on shares of Tractor Supply from $53.00 to $58.00 and gave the stock a "hold" rating in a report on Thursday, December 12th. Two analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock 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.