Emerald Advisers LLC Buys 6,506 Shares of Tractor Supply (NASDAQ:TSCO)

Emerald Advisers LLC boosted its position in shares of Tractor Supply (NASDAQ:TSCO) by 401.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,127 shares of the specialty retailer’s stock after purchasing an additional 6,506 shares during the period. Emerald Advisers LLC’s holdings in Tractor Supply were worth $431,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TSCO. Connor Clark & Lunn Investment Management Ltd. raised its position in Tractor Supply by 1,674.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 18,492 shares of the specialty retailer’s stock valued at $5,380,000 after buying an additional 17,450 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of Tractor Supply by 13.2% during the 3rd quarter. First Horizon Advisors Inc. now owns 351 shares of the specialty retailer’s stock worth $102,000 after acquiring an additional 41 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Tractor Supply by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 631,406 shares of the specialty retailer’s stock valued at $183,695,000 after purchasing an additional 8,142 shares during the last quarter. Icon Wealth Advisors LLC acquired a new stake in shares of Tractor Supply in the third quarter valued at approximately $431,000. Finally, Meridian Wealth Management LLC bought a new stake in shares of Tractor Supply in the third quarter worth $558,000. Institutional investors and hedge funds own 98.72% of the company’s stock.

Insider Activity

In other Tractor Supply news, CEO Harry A. Lawton III sold 88,095 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $54.59, for a total value of $4,809,106.05. Following the transaction, the chief executive officer now directly owns 488,852 shares of the company’s stock, valued at $26,686,430.68. This trade represents a 15.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Melissa Kersey sold 9,300 shares of the company’s 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 sale, the executive vice president now directly owns 34,961 shares of the company’s stock, valued at approximately $1,858,876.37. This trade represents a 21.01 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 137,993 shares of company stock worth $7,538,068. Corporate insiders own 0.24% of the company’s stock.

Tractor Supply Stock Performance

TSCO opened at $52.46 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. The business has a fifty day simple moving average of $55.03 and a 200 day simple moving average of $55.69. Tractor Supply has a 1 year low of $48.30 and a 1 year high of $61.53. The company 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 (NASDAQ:TSCO) last announced its earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share (EPS) 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%. Research analysts expect that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were issued a dividend of $0.92 per share. The ex-dividend date was Wednesday, February 26th. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 annualized dividend and a dividend yield of 7.01%. Tractor Supply’s dividend payout ratio (DPR) is currently 45.10%.

Tractor Supply declared that its board has initiated a share buyback plan on Thursday, February 13th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the specialty retailer to reacquire up to 3.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Truist Financial lowered their price target 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. Wells Fargo & Company lowered their target price on Tractor Supply from $65.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Barclays reduced their price target on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a research report on Monday, December 30th. Mizuho boosted their price target on Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Finally, Bank of America increased their price objective on Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a report on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has assigned 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 target price of $59.22.

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.