TD Private Client Wealth LLC increased its position in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 400.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,420 shares of the specialty retailer's stock after purchasing an additional 7,537 shares during the quarter. TD Private Client Wealth LLC's holdings in Tractor Supply were worth $500,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Providence Capital Advisors LLC acquired a new stake in shares of Tractor Supply during the 3rd quarter worth approximately $32,000. Larson Financial Group LLC raised its position in shares of Tractor Supply by 29.4% in the third quarter. Larson Financial Group LLC now owns 286 shares of the specialty retailer's stock worth $83,000 after buying an additional 65 shares in the last quarter. Icon Wealth Advisors LLC purchased a new position in Tractor Supply in the 3rd quarter worth approximately $111,000. Glen Eagle Advisors LLC lifted its holdings in shares of Tractor Supply by 75.8% in the 3rd quarter. Glen Eagle Advisors LLC now owns 464 shares of the specialty retailer's stock worth $135,000 after acquiring an additional 200 shares during the last quarter. Finally, Smithfield Trust Co grew 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 buying an additional 352 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.
Tractor Supply Stock Performance
Shares of NASDAQ TSCO traded down $0.69 during mid-day trading on Friday, hitting $53.47. The company had a trading volume of 3,599,669 shares, compared to its average volume of 5,054,910. The business's 50-day simple moving average is $55.03 and its 200-day simple moving average is $55.65. 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 P/E ratio of 26.21, a PEG ratio of 2.95 and a beta of 0.85. Tractor Supply has a 12 month low of $48.30 and a 12 month high of $61.53.
Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its quarterly earnings data 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, analysts predict 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 buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to reacquire up to 3.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its stock is undervalued.
Tractor Supply Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 6.88%. The ex-dividend date was Wednesday, February 26th. This is a positive change from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's dividend payout ratio is presently 45.10%.
Insider Activity
In related news, SVP Matthew L. Rubin sold 3,850 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total value of $222,106.50. Following the transaction, the senior vice president now directly owns 31,787 shares in the company, valued at approximately $1,833,792.03. This represents a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Harry A. Lawton III sold 88,095 shares of the business's stock in a transaction 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 directly 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. Insiders sold a total of 137,993 shares of company stock valued at $7,538,068 in the last quarter. Company insiders own 0.58% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on TSCO shares. Guggenheim restated a "buy" rating and set a $60.00 price target on shares of Tractor Supply in a report on Friday, January 31st. Truist Financial cut their target price on Tractor Supply from $63.00 to $60.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. JPMorgan Chase & Co. increased their target price on Tractor Supply from $58.00 to $59.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. Telsey Advisory Group reaffirmed an "outperform" rating and set a $67.00 price objective on shares of Tractor Supply in a research report on Thursday, January 30th. Finally, Bank of America boosted their price target on Tractor Supply from $44.00 to $53.00 and gave the company an "underperform" rating in a report on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $59.22.
View Our Latest Stock Analysis on TSCO
Tractor Supply Profile
(
Free Report)
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.
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