Congress Wealth Management LLC DE Increases Stock Position in Tractor Supply (NASDAQ:TSCO)

Congress Wealth Management LLC DE raised its position in Tractor Supply (NASDAQ:TSCO) by 415.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 412,353 shares of the specialty retailer’s stock after buying an additional 332,277 shares during the period. Congress Wealth Management LLC DE owned about 0.08% of Tractor Supply worth $21,879,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Baldwin Investment Management LLC raised its holdings in Tractor Supply by 0.3% in the third quarter. Baldwin Investment Management LLC now owns 11,402 shares of the specialty retailer’s stock valued at $3,317,000 after acquiring an additional 38 shares in the last quarter. First Horizon Advisors Inc. increased its position in shares of Tractor Supply by 13.2% in the 3rd quarter. First Horizon Advisors Inc. now owns 351 shares of the specialty retailer’s stock valued at $102,000 after purchasing an additional 41 shares during the last quarter. Cynosure Group LLC raised its holdings in shares of Tractor Supply by 2.8% in the 3rd quarter. Cynosure Group LLC now owns 1,529 shares of the specialty retailer’s stock valued at $445,000 after purchasing an additional 42 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of Tractor Supply by 29.4% in the 3rd quarter. Larson Financial Group LLC now owns 286 shares of the specialty retailer’s stock valued at $83,000 after purchasing an additional 65 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co lifted its position in shares of Tractor Supply by 7.1% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 978 shares of the specialty retailer’s stock worth $285,000 after purchasing an additional 65 shares during the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Tractor Supply Stock Up 1.2 %

TSCO stock opened at $52.46 on Monday. 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 market capitalization of $28.01 billion, a PE ratio of 25.72, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. Tractor Supply has a one year low of $48.30 and a one year high of $61.53. The company has a fifty day moving average of $55.03 and a 200-day moving average of $55.69.

Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Thursday, January 30th. The specialty retailer reported $0.44 EPS for the quarter, missing the consensus estimate of $2.28 by ($1.84). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. As a group, analysts expect that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply declared that its board has authorized a stock repurchase plan on Thursday, February 13th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the specialty retailer to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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 $0.92 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 7.01%. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio (DPR) is currently 45.10%.

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 dated Thursday, February 20th. The stock was sold at an average price of $57.69, for a total value of $222,106.50. Following the sale, the senior vice president now directly 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Melissa Kersey sold 9,300 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $53.17, for a total transaction of $494,481.00. Following the transaction, the executive vice president now directly owns 34,961 shares in the company, valued at approximately $1,858,876.37. This represents a 21.01 % 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.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TSCO shares. JPMorgan Chase & Co. raised their price target on Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Barclays decreased their target price on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a research note on Monday, December 30th. Wells Fargo & Company cut their price objective on shares of Tractor Supply from $65.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Loop Capital boosted their price objective on shares of Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a research report on Thursday, December 12th. Finally, Truist Financial dropped their target price on shares of Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Tractor Supply presently has a consensus rating of “Moderate Buy” and an average price target of $59.22.

Tractor Supply 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.