Truvestments Capital LLC Has $1.04 Million Holdings in Tractor Supply (NASDAQ:TSCO)

Truvestments Capital LLC raised its holdings in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 524.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,661 shares of the specialty retailer's stock after buying an additional 16,510 shares during the quarter. Truvestments Capital LLC's holdings in Tractor Supply were worth $1,043,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of TSCO. Assetmark Inc. increased its position in shares of Tractor Supply by 2,383.3% during the third quarter. Assetmark Inc. now owns 149 shares of the specialty retailer's stock valued at $43,000 after purchasing an additional 143 shares during the period. Atria Investments Inc increased its position in shares of Tractor Supply by 4.3% during the third quarter. Atria Investments Inc now owns 23,269 shares of the specialty retailer's stock valued at $6,770,000 after purchasing an additional 951 shares during the period. Sigma Planning Corp increased its position in shares of Tractor Supply by 3.7% during the third quarter. Sigma Planning Corp now owns 4,237 shares of the specialty retailer's stock valued at $1,233,000 after purchasing an additional 152 shares during the period. Ashton Thomas Securities LLC bought a new stake in shares of Tractor Supply during the third quarter valued at approximately $90,000. Finally, Nations Financial Group Inc. IA ADV bought a new stake in Tractor Supply in the third quarter valued at $244,000. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on TSCO shares. Guggenheim reiterated a "buy" rating and issued a $60.00 price target on shares of Tractor Supply in a research report on Friday, January 31st. Telsey Advisory Group reissued an "outperform" rating and issued a $67.00 price objective on shares of Tractor Supply in a research note on Thursday, January 30th. Barclays reduced their price objective on Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Monday, December 30th. Evercore ISI raised Tractor Supply from a "hold" rating to a "strong-buy" rating in a research note on Friday, November 15th. Finally, Mizuho boosted their price objective on Tractor Supply from $60.00 to $62.00 and gave the stock an "outperform" rating in a research note on Thursday, January 23rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Tractor Supply presently has a consensus rating of "Moderate Buy" and an average price target of $59.22.

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Tractor Supply Stock Down 5.8 %

NASDAQ:TSCO opened at $53.92 on Wednesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. The company has a market cap of $28.79 billion, a PE ratio of 26.43, a PEG ratio of 2.95 and a beta of 0.85. Tractor Supply has a 52-week low of $48.30 and a 52-week high of $61.53. The stock has a 50-day simple moving average of $55.22 and a 200 day simple moving average of $55.79.

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 (EPS) for the quarter, missing analysts' consensus estimates of $2.28 by ($1.84). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. On average, sell-side analysts expect that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 6.82%. This is an increase from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. Tractor Supply's dividend payout ratio (DPR) is currently 45.10%.

Tractor Supply announced that its board has authorized 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 purchase up to 3.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling at Tractor Supply

In other news, SVP Matthew L. Rubin sold 3,850 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $57.69, for a total value of $222,106.50. Following the completion of the sale, the senior vice president now directly owns 31,787 shares of the company's stock, valued at $1,833,792.03. This trade represents a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Melissa Kersey sold 9,300 shares of the firm's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $53.17, for a total value of $494,481.00. Following the completion of the sale, the executive vice president now directly 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 disclosure for this sale can be found here. Insiders sold a total of 137,993 shares of company stock worth $7,538,068 over the last ninety days. 0.24% of the stock is currently owned by corporate insiders.

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.

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