Laird Norton Wetherby Wealth Management LLC Boosts Holdings in Tractor Supply (NASDAQ:TSCO)

Laird Norton Wetherby Wealth Management LLC grew its position in Tractor Supply (NASDAQ:TSCO) by 397.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,899 shares of the specialty retailer’s stock after acquiring an additional 7,908 shares during the quarter. Laird Norton Wetherby Wealth Management LLC’s holdings in Tractor Supply were worth $525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Smithfield Trust Co grew its position in shares of Tractor Supply by 286.2% during 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. Coppell Advisory Solutions LLC raised its stake in shares of Tractor Supply by 944.4% in the fourth quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 425 shares during the last quarter. PrairieView Partners LLC grew its holdings in Tractor Supply by 400.0% during 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 during the period. Archer Investment Corp grew its holdings 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 period. Finally, Kentucky Trust Co acquired a new stake in Tractor Supply in the fourth quarter valued at approximately $27,000. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Stock Up 1.5%

Shares of TSCO opened at $52.17 on Friday. Tractor Supply has a 52 week low of $46.85 and a 52 week high of $61.53. The stock has a market capitalization of $27.66 billion, a price-to-earnings ratio of 25.57, a PEG ratio of 2.95 and a beta of 0.82. 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 stock has a fifty day moving average of $51.66 and a 200-day moving average of $54.08.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). The business had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.55 billion. Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. The business’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.83 earnings per share. As a group, sell-side analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

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

Tractor Supply Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.76%. Tractor Supply’s dividend payout ratio is currently 45.77%.

Insiders Place Their Bets

In other Tractor Supply 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 transaction of $222,106.50. Following the completion of the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.65% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TSCO. Truist Financial lowered their price target on Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. JPMorgan Chase & Co. lowered their target price on Tractor Supply from $59.00 to $56.00 and set a “neutral” rating for the company in a research note on Monday, April 28th. Stephens assumed coverage on Tractor Supply in a research report on Wednesday, April 9th. They set an “equal weight” rating and a $56.00 price objective for the company. Guggenheim reduced their target price on Tractor Supply from $60.00 to $55.00 and set a “buy” rating for the company in a report on Friday, April 25th. Finally, Bank of America upped their price objective on Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $58.02.

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.