SteelPeak Wealth LLC Buys 838 Shares of Tractor Supply (NASDAQ:TSCO)

SteelPeak Wealth LLC increased its stake in shares of Tractor Supply (NASDAQ:TSCO) by 45.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,667 shares of the specialty retailer’s stock after acquiring an additional 838 shares during the quarter. SteelPeak Wealth LLC’s holdings in Tractor Supply were worth $573,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of TSCO. LPL Financial LLC increased its stake in Tractor Supply by 4.6% during the 3rd quarter. LPL Financial LLC now owns 113,873 shares of the specialty retailer’s stock valued at $23,122,000 after purchasing an additional 5,014 shares in the last quarter. ST Germain D J Co. Inc. bought a new stake in shares of Tractor Supply during the second quarter worth about $29,000. Simon Quick Advisors LLC raised its holdings in shares of Tractor Supply by 21.1% in the 3rd quarter. Simon Quick Advisors LLC now owns 1,551 shares of the specialty retailer’s stock worth $315,000 after acquiring an additional 270 shares during the last quarter. State Street Corp lifted its position in Tractor Supply by 2.4% in the 2nd quarter. State Street Corp now owns 4,568,376 shares of the specialty retailer’s stock valued at $1,010,068,000 after acquiring an additional 108,622 shares in the last quarter. Finally, Copeland Capital Management LLC boosted its stake in Tractor Supply by 397.6% during the 4th quarter. Copeland Capital Management LLC now owns 5,090 shares of the specialty retailer’s stock valued at $1,095,000 after purchasing an additional 4,067 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Tractor Supply Price Performance

TSCO stock opened at $252.49 on Friday. The firm has a 50 day moving average of $246.42 and a 200-day moving average of $221.60. The firm has a market capitalization of $27.25 billion, a P/E ratio of 25.02, a price-to-earnings-growth ratio of 3.79 and a beta of 0.84. Tractor Supply has a 12 month low of $185.00 and a 12 month high of $268.02. The company has a current ratio of 1.50, a quick ratio of 0.28 and a debt-to-equity ratio of 0.82.

Tractor Supply (NASDAQ:TSCO) last posted its earnings results on Thursday, February 1st. The specialty retailer reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.06. The business had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.67 billion. Tractor Supply had a net margin of 7.61% and a return on equity of 53.60%. The business’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.43 EPS. As a group, sell-side analysts predict that Tractor Supply will post 10.19 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were paid a $1.10 dividend. This is a positive change from Tractor Supply’s previous quarterly dividend of $1.03. This represents a $4.40 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date was Friday, February 23rd. Tractor Supply’s dividend payout ratio is currently 43.61%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on TSCO shares. Stephens cut Tractor Supply from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $226.00 to $240.00 in a research report on Tuesday, January 23rd. Morgan Stanley restated an “underweight” rating and set a $195.00 price target on shares of Tractor Supply in a report on Tuesday, January 16th. Bank of America lowered shares of Tractor Supply from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $207.00 to $171.00 in a research note on Friday, December 15th. Telsey Advisory Group lifted their target price on shares of Tractor Supply from $245.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Finally, Benchmark reaffirmed a “buy” rating and issued a $256.00 target price on shares of Tractor Supply in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $239.83.

Insider Buying and Selling at Tractor Supply

In other news, EVP Robert D. Mills sold 48,334 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $232.23, for a total transaction of $11,224,604.82. Following the completion of the transaction, the executive vice president now owns 22,167 shares of the company’s stock, valued at $5,147,842.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tractor Supply news, CFO Kurt D. Barton sold 401 shares of Tractor Supply stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $232.06, for a total transaction of $93,056.06. Following the completion of the sale, the chief financial officer now owns 25,013 shares of the company’s stock, valued at $5,804,516.78. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Robert D. Mills sold 48,334 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $232.23, for a total value of $11,224,604.82. Following the transaction, the executive vice president now owns 22,167 shares in the company, valued at $5,147,842.41. The disclosure for this sale can be found here. Insiders have sold a total of 90,090 shares of company stock valued at $21,201,877 in the last 90 days. Corporate insiders own 0.24% of the company’s stock.

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.