Kelman Lazarov Inc. grew its position in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 400.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,520 shares of the specialty retailer's stock after buying an additional 6,016 shares during the period. Kelman Lazarov Inc.'s holdings in Tractor Supply were worth $399,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Smithfield Trust Co increased its position in shares of Tractor Supply by 286.2% in the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock worth $25,000 after purchasing an additional 352 shares during the last quarter. PrairieView Partners LLC boosted its position in shares of Tractor Supply by 400.0% during the fourth quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer's stock valued at $26,000 after purchasing an additional 400 shares in the last quarter. Future Financial Wealth Managment LLC lifted its holdings in shares of Tractor Supply by 400.0% during the fourth quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer's stock valued at $27,000 after purchasing an additional 400 shares during the last quarter. Archer Investment Corp increased its stake in Tractor Supply by 400.0% during the 4th quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock valued at $27,000 after purchasing an additional 400 shares in the last quarter. Finally, Kentucky Trust Co purchased a new position in shares of Tractor Supply in the fourth quarter worth $27,000. Institutional investors own 98.72% of the company's stock.
Analysts Set New Price Targets
A number of research firms recently commented on TSCO. JPMorgan Chase & Co. upped their price objective on Tractor Supply from $58.00 to $59.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Bank of America raised their price objective on shares of Tractor Supply from $44.00 to $53.00 and gave the stock an "underperform" rating in a report on Thursday, January 16th. Guggenheim reaffirmed a "buy" rating and set a $60.00 target price on shares of Tractor Supply in a report on Friday, January 31st. Telsey Advisory Group reiterated an "outperform" rating and set a $67.00 price target on shares of Tractor Supply in a research note on Thursday, January 30th. Finally, Barclays reduced their price objective on Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating for the company in a research note on Monday, December 30th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $59.07.
Check Out Our Latest Analysis on TSCO
Insider Buying and Selling at Tractor Supply
In other news, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $54.59, for a total value of $4,809,106.05. Following the transaction, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Matthew L. Rubin sold 3,850 shares of the firm'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 completion of the sale, the senior vice president now owns 31,787 shares in the company, valued at $1,833,792.03. This represents a 10.80 % 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 ninety days. Corporate insiders own 0.24% of the company's stock.
Tractor Supply Trading Down 2.3 %
NASDAQ:TSCO traded down $1.19 during midday trading on Tuesday, hitting $50.98. 1,319,779 shares of the company traded hands, compared to its average volume of 5,109,480. Tractor Supply has a 12-month low of $46.97 and a 12-month high of $61.53. 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 firm's fifty day moving average is $54.04 and its 200-day moving average is $55.31. The firm has a market capitalization of $27.10 billion, a P/E ratio of 24.99, a P/E/G ratio of 2.95 and a beta of 0.88.
Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its earnings results on Thursday, January 30th. The specialty retailer reported $0.44 EPS 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, sell-side analysts predict that Tractor Supply will post 2.17 EPS for the current year.
Tractor Supply Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were issued a dividend of $0.92 per share. This is an increase from Tractor Supply's previous quarterly dividend of $0.22. This represents a $3.68 annualized dividend and a yield of 7.22%. The ex-dividend date was Wednesday, February 26th. Tractor Supply's dividend payout ratio (DPR) is presently 45.10%.
Tractor Supply announced that its board has approved a share repurchase program on Thursday, February 13th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the specialty retailer to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.
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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