Tractor Supply (NASDAQ:TSCO) Stake Lifted by NewEdge Advisors LLC

NewEdge Advisors LLC lifted its position in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 413.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 807,931 shares of the specialty retailer's stock after acquiring an additional 650,443 shares during the quarter. NewEdge Advisors LLC owned approximately 0.15% of Tractor Supply worth $42,869,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several research firms have commented on TSCO. Bank of America lifted 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. Telsey Advisory Group reissued an "outperform" rating and issued a $67.00 price objective on shares of Tractor Supply in a report on Thursday. Mizuho lifted their price target 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. Barclays lowered their price target on shares of Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating for the company in a research report on Monday, December 30th. Finally, Guggenheim reaffirmed a "buy" rating and set a $60.00 target price on shares of Tractor Supply in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $59.07.

Tractor Supply Trading Down 1.4 %

Shares of TSCO traded down $0.68 during midday trading on Monday, hitting $49.48. The stock had a trading volume of 1,097,538 shares, compared to its average volume of 5,096,969. 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 stock's 50 day moving average is $53.74 and its 200 day moving average is $55.07. Tractor Supply has a 1 year low of $46.97 and a 1 year high of $61.53. The firm has a market cap of $26.30 billion, a PE ratio of 24.26, a price-to-earnings-growth ratio of 2.95 and a beta of 0.88.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its quarterly earnings data 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 return on equity of 49.01% and a net margin of 7.40%. As a group, analysts forecast that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were given a $0.92 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a yield of 7.44%. This is an increase from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's payout ratio is currently 45.10%.

Tractor Supply announced that its Board of Directors has authorized a stock repurchase 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 stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Insider Transactions at Tractor Supply

In related news, EVP Melissa Kersey sold 9,300 shares of the business'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 sale, the executive vice president now owns 34,961 shares of the company's stock, valued at approximately $1,858,876.37. The trade was a 21.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Harry A. Lawton III sold 88,095 shares of the 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 owns 488,852 shares in the company, 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 worth $7,538,068. 0.65% of the stock is currently owned by insiders.

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.