Covestor Ltd Raises Stock Holdings in Tractor Supply (NASDAQ:TSCO)

Covestor Ltd grew its position in shares of Tractor Supply (NASDAQ:TSCO) by 430.7% in the fourth quarter, Holdings Channel reports. The fund owned 1,348 shares of the specialty retailer’s stock after buying an additional 1,094 shares during the quarter. Covestor Ltd’s holdings in Tractor Supply were worth $72,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of TSCO. Smithfield Trust Co grew its stake in shares of Tractor Supply by 286.2% in the 4th quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer’s stock worth $25,000 after buying an additional 352 shares in the last quarter. PrairieView Partners LLC grew its position in Tractor Supply by 400.0% in the fourth quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 400 shares in the last quarter. Future Financial Wealth Managment LLC grew its position in 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 in the last quarter. Archer Investment Corp increased its stake in Tractor Supply by 400.0% during the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 400 shares during the last quarter. Finally, Kentucky Trust Co purchased a new stake in Tractor Supply during the fourth quarter valued at approximately $27,000. 98.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Harry A. Lawton III sold 88,095 shares of the business’s 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 transaction, the chief executive officer now owns 488,852 shares in the company, valued at $26,686,430.68. The trade was a 15.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Matthew L. Rubin sold 3,850 shares of the firm’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 transaction of $222,106.50. Following the completion of the sale, the senior vice president now owns 31,787 shares of the company’s stock, valued at approximately $1,833,792.03. This trade represents a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,993 shares of company stock worth $7,538,068 in the last three months. 0.24% of the stock is owned by insiders.

Tractor Supply Stock Up 0.7 %

Shares of Tractor Supply stock opened at $51.67 on Monday. 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 has a market cap of $27.47 billion, a price-to-earnings ratio of 25.33, a PEG ratio of 2.95 and a beta of 0.88. The firm’s 50-day moving average is $54.07 and its two-hundred day moving average is $55.35. Tractor Supply has a 1 year low of $46.97 and a 1 year high of $61.53.

Tractor Supply (NASDAQ:TSCO) last released 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 net margin of 7.40% and a return on equity of 49.01%. As a group, research analysts expect that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply announced that its board has authorized a share buyback program on Thursday, February 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the specialty retailer to buy up to 3.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were given a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 7.12%. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. Tractor Supply’s payout ratio is presently 45.10%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Stephens initiated coverage on Tractor Supply in a research report on Wednesday, April 9th. They set an “equal weight” rating and a $56.00 target price on the stock. Barclays cut their price objective on shares of Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Monday, December 30th. JPMorgan Chase & Co. raised their target price on shares of Tractor Supply from $58.00 to $59.00 and gave the stock a “neutral” rating 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 report on Thursday, January 30th. Finally, Truist Financial decreased their price objective on shares of Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Tractor Supply presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.07.

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.