Westover Capital Advisors LLC Increases Position in Tractor Supply (NASDAQ:TSCO)

Westover Capital Advisors LLC boosted its holdings in Tractor Supply (NASDAQ:TSCO - Free Report) by 398.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,920 shares of the specialty retailer's stock after purchasing an additional 19,918 shares during the quarter. Westover Capital Advisors LLC's holdings in Tractor Supply were worth $1,322,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of TSCO. Van ECK Associates Corp grew its holdings in shares of Tractor Supply by 8.4% during the third quarter. Van ECK Associates Corp now owns 38,115 shares of the specialty retailer's stock valued at $11,133,000 after buying an additional 2,958 shares during the last quarter. National Pension Service lifted its position in Tractor Supply by 1.6% during the third quarter. National Pension Service now owns 157,441 shares of the specialty retailer's stock valued at $45,804,000 after purchasing an additional 2,510 shares during the period. Asset Management One Co. Ltd. lifted its position in Tractor Supply by 3.4% during the third quarter. Asset Management One Co. Ltd. now owns 40,800 shares of the specialty retailer's stock valued at $11,870,000 after purchasing an additional 1,330 shares during the period. Moloney Securities Asset Management LLC lifted its position in Tractor Supply by 482.1% during the third quarter. Moloney Securities Asset Management LLC now owns 4,500 shares of the specialty retailer's stock valued at $1,309,000 after purchasing an additional 3,727 shares during the period. Finally, Amalgamated Bank lifted its position in Tractor Supply by 6.7% during the third quarter. Amalgamated Bank now owns 24,866 shares of the specialty retailer's stock valued at $7,234,000 after purchasing an additional 1,567 shares during the period. Hedge funds and other institutional investors own 98.72% of the company's stock.

Insider Activity at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply stock in a transaction 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 completion of the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction of $4,809,106.05. Following the completion of the transaction, the chief executive officer now directly owns 488,852 shares of the company's stock, valued at $26,686,430.68. The trade was a 15.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 137,993 shares of company stock valued at $7,538,068. Corporate insiders own 0.24% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TSCO. Truist Financial lowered their price objective on shares of Tractor Supply from $63.00 to $60.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Wells Fargo & Company lowered their price objective on shares of Tractor Supply from $65.00 to $64.00 and set an "overweight" rating on the stock in a research report on Monday, November 25th. Bank of America increased their price objective on shares of Tractor Supply from $44.00 to $53.00 and gave the company an "underperform" rating in a research report on Thursday, January 16th. Evercore ISI upgraded shares of Tractor Supply from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 15th. Finally, Loop Capital increased their price target on shares of Tractor Supply from $53.00 to $58.00 and gave the stock a "hold" rating in a research report on Thursday, December 12th. Two 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, Tractor Supply has an average rating of "Moderate Buy" and an average target price of $59.22.

Tractor Supply Stock Down 0.3 %

Shares of TSCO stock opened at $54.95 on Thursday. The company has a market capitalization of $29.34 billion, a price-to-earnings ratio of 26.94, a PEG ratio of 2.95 and a beta of 0.85. Tractor Supply has a one year low of $48.30 and a one year high of $61.53. The company's fifty day moving average price is $55.08 and its 200-day moving average price is $55.71. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its 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 net margin of 7.40% and a return on equity of 49.01%. Sell-side analysts expect that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply declared that its Board of Directors has approved a share repurchase program on Thursday, February 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the specialty retailer to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's leadership believes its stock is undervalued.

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th will be paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 6.70%. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Wednesday, February 26th. Tractor Supply's dividend payout ratio (DPR) is presently 45.10%.

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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