First National Advisers LLC Boosts Position in Tractor Supply (NASDAQ:TSCO)

First National Advisers LLC boosted its holdings in Tractor Supply (NASDAQ:TSCO) by 40.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 6,110 shares of the specialty retailer’s stock after buying an additional 1,754 shares during the period. First National Advisers LLC’s holdings in Tractor Supply were worth $324,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Glenview Trust co raised its holdings in Tractor Supply by 750.8% in the fourth quarter. Glenview Trust co now owns 15,288 shares of the specialty retailer’s stock valued at $811,000 after buying an additional 13,491 shares during the period. Patten & Patten Inc. TN raised its stake in shares of Tractor Supply by 389.8% during the fourth quarter. Patten & Patten Inc. TN now owns 373,615 shares of the specialty retailer’s stock valued at $19,824,000 after purchasing an additional 297,334 shares during the period. Harbour Investments Inc. raised its stake in shares of Tractor Supply by 397.5% during the fourth quarter. Harbour Investments Inc. now owns 4,766 shares of the specialty retailer’s stock valued at $253,000 after purchasing an additional 3,808 shares during the period. Corient Private Wealth LLC raised its stake in shares of Tractor Supply by 405.0% during the fourth quarter. Corient Private Wealth LLC now owns 866,509 shares of the specialty retailer’s stock valued at $45,977,000 after purchasing an additional 694,912 shares during the period. Finally, Envestnet Portfolio Solutions Inc. raised its stake in shares of Tractor Supply by 404.2% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 28,365 shares of the specialty retailer’s stock valued at $1,505,000 after purchasing an additional 22,739 shares during the period. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Loop Capital lifted their price objective on shares of Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, December 12th. JPMorgan Chase & Co. lifted their price objective on shares of Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Barclays dropped 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 note on Monday, December 30th. Truist Financial dropped 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 note on Friday, January 31st. Finally, Bank of America raised their price target on shares of Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a research report on Thursday, January 16th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $59.22.

Insider Transactions at Tractor Supply

In other news, CEO Harry A. Lawton III sold 88,095 shares of the company’s stock in a transaction dated 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 approximately $26,686,430.68. This represents a 15.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Matthew L. Rubin sold 3,850 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $57.69, for a total transaction of $222,106.50. Following the transaction, the senior vice president now owns 31,787 shares of the company’s stock, valued at $1,833,792.03. This represents a 10.80 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 137,993 shares of company stock worth $7,538,068. Insiders own 0.24% of the company’s stock.

Tractor Supply Stock Up 0.3 %

TSCO stock opened at $51.83 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. Tractor Supply has a 1-year low of $48.30 and a 1-year high of $61.53. The firm has a fifty day moving average price of $55.19 and a two-hundred day moving average price of $55.74. The firm has a market cap of $27.68 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 2.95 and a beta of 0.85.

Tractor Supply (NASDAQ:TSCO) last released 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%. Research analysts predict that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were given a dividend of $0.92 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $3.68 annualized dividend and a dividend yield of 7.10%. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio is currently 45.10%.

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

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.