Kayne Anderson Rudnick Investment Management LLC Boosts Holdings in Tractor Supply (NASDAQ:TSCO)

Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 400.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,255 shares of the specialty retailer’s stock after purchasing an additional 1,004 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Tractor Supply were worth $67,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Smithfield Trust Co increased its holdings 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 buying an additional 352 shares during the period. Future Financial Wealth Managment LLC increased its stake in Tractor Supply by 400.0% in the 4th quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 400 shares during the period. Archer Investment Corp lifted its position in Tractor Supply by 400.0% in the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 400 shares during the last quarter. PrairieView Partners LLC boosted its stake 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 during the period. Finally, Kentucky Trust Co bought a new position in shares of Tractor Supply in the fourth quarter worth approximately $27,000. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Analysts Set New Price Targets

TSCO has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price target on shares of Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Barclays cut their target price 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. Telsey Advisory Group reaffirmed an “outperform” rating and set a $67.00 price target on shares of Tractor Supply in a research report on Thursday, April 17th. Truist Financial dropped their price objective on Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a report on Friday, January 31st. Finally, Mizuho boosted their target price on Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $59.07.

Tractor Supply Price Performance

Shares of NASDAQ TSCO opened at $50.71 on Thursday. The company has a 50 day simple moving average of $53.36 and a two-hundred day simple moving average of $54.94. Tractor Supply has a fifty-two week low of $46.97 and a fifty-two week high of $61.53. The company has a market capitalization of $26.96 billion, a price-to-earnings ratio of 24.86, a P/E/G ratio of 2.95 and a beta of 0.88. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share 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%. Analysts expect that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 7.26%. 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 is 45.10%.

Tractor Supply announced that its Board of Directors has approved a stock buyback program on Thursday, February 13th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the specialty retailer to reacquire up to 3.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Tractor Supply

In related news, 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 value of $222,106.50. Following the sale, the senior vice president now owns 31,787 shares in the company, valued at approximately $1,833,792.03. This trade represents a 10.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 488,852 shares of the company’s stock, valued at approximately $26,686,430.68. This trade represents a 15.27 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 137,993 shares of company stock worth $7,538,068. 0.65% of the stock is 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.