McCollum Christoferson Group LLC Boosts Holdings in Tractor Supply (NASDAQ:TSCO)

McCollum Christoferson Group LLC increased its stake in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 399.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,455 shares of the specialty retailer's stock after purchasing an additional 99,529 shares during the quarter. Tractor Supply makes up about 2.0% of McCollum Christoferson Group LLC's portfolio, making the stock its 24th largest holding. McCollum Christoferson Group LLC's holdings in Tractor Supply were worth $6,604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Smithfield Trust Co boosted its stake in shares of Tractor Supply by 286.2% during 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 in the last quarter. PrairieView Partners LLC boosted its position in Tractor Supply by 400.0% during the 4th quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer's stock worth $26,000 after buying an additional 400 shares during the period. Future Financial Wealth Managment LLC grew its holdings in Tractor Supply by 400.0% during the 4th quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer's stock worth $27,000 after acquiring an additional 400 shares during the last quarter. Archer Investment Corp increased 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 valued at $27,000 after acquiring an additional 400 shares during the period. Finally, Kentucky Trust Co bought a new position in shares of Tractor Supply during the fourth quarter valued at $27,000. Institutional investors own 98.72% of the company's stock.

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Insider Activity

In other news, EVP Melissa Kersey sold 9,300 shares of the firm'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 in the company, valued at approximately $1,858,876.37. This trade represents a 21.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Colin Yankee sold 24,602 shares of the company's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $54.15, for a total transaction of $1,332,198.30. Following the completion of the transaction, the executive vice president now owns 33,645 shares of the company's stock, valued at $1,821,876.75. This trade represents a 42.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 137,993 shares of company stock worth $7,538,068. 0.58% of the stock is currently owned by insiders.

Tractor Supply Stock Performance

NASDAQ:TSCO traded down $0.69 on Friday, reaching $53.47. 3,599,669 shares of the company's stock were exchanged, compared to its average volume of 5,054,910. Tractor Supply has a 52 week low of $48.30 and a 52 week high of $61.53. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. The firm has a market cap of $28.55 billion, a price-to-earnings ratio of 26.21, a P/E/G ratio of 2.95 and a beta of 0.85. The stock has a fifty day simple moving average of $55.03 and a 200-day simple moving average of $55.64.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share 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%. As a group, sell-side 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 initiated a stock buyback program on Thursday, February 13th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the specialty retailer to reacquire up to 3.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were issued a $0.92 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $3.68 annualized dividend and a dividend yield of 6.88%. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's dividend payout ratio (DPR) is presently 45.10%.

Analyst Upgrades and Downgrades

TSCO has been the topic of a number of analyst reports. Truist Financial reduced their price target on Tractor Supply from $63.00 to $60.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Mizuho boosted their price objective on Tractor Supply from $60.00 to $62.00 and gave the stock an "outperform" rating in a report on Thursday, January 23rd. Bank of America raised their target price on Tractor Supply from $44.00 to $53.00 and gave the company an "underperform" rating in a report on Thursday, January 16th. JPMorgan Chase & Co. upped their price target on Tractor Supply from $58.00 to $59.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Finally, 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 note on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $59.22.

About Tractor Supply

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.