Strategy Asset Managers LLC Purchases 4,862 Shares of Tractor Supply (NASDAQ:TSCO)

Strategy Asset Managers LLC lifted its position in Tractor Supply (NASDAQ:TSCO) by 405.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,060 shares of the specialty retailer’s stock after buying an additional 4,862 shares during the period. Strategy Asset Managers LLC’s holdings in Tractor Supply were worth $322,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in TSCO. Larson Financial Group LLC raised its position in shares of Tractor Supply by 29.4% during the third quarter. Larson Financial Group LLC now owns 286 shares of the specialty retailer’s stock worth $83,000 after purchasing an additional 65 shares during the period. Icon Wealth Advisors LLC acquired a new stake in Tractor Supply during the 3rd quarter worth approximately $111,000. Glen Eagle Advisors LLC lifted its stake in Tractor Supply by 75.8% in the third quarter. Glen Eagle Advisors LLC now owns 464 shares of the specialty retailer’s stock valued at $135,000 after buying an additional 200 shares in the last quarter. Smithfield Trust Co boosted its holdings in shares of Tractor Supply by 286.2% in the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 352 shares during the period. Finally, Future Financial Wealth Managment LLC increased its position in shares of Tractor Supply by 400.0% during the fourth quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 400 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $54.59, for a total value of $4,809,106.05. Following the completion of the transaction, the chief executive officer now directly owns 488,852 shares of the company’s stock, valued at $26,686,430.68. The trade was a 15.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Matthew L. Rubin sold 3,850 shares of the stock in a transaction on 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 in the company, valued at approximately $1,833,792.03. This trade represents a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,993 shares of company stock valued at $7,538,068 in the last quarter. Company insiders own 0.58% of the company’s stock.

Tractor Supply Stock Down 1.3 %

Shares of TSCO opened at $53.47 on Friday. The firm has a market cap of $28.55 billion, a P/E ratio of 26.21, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. Tractor Supply has a 52 week low of $48.30 and a 52 week high of $61.53. The firm’s 50-day simple moving average is $55.03 and its 200 day simple moving average is $55.65.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 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%. On average, analysts forecast that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply declared that its Board of Directors has approved a stock repurchase plan on Thursday, February 13th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the specialty retailer to purchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Tractor Supply Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were paid a $0.92 dividend. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $3.68 annualized dividend and a yield of 6.88%. Tractor Supply’s payout ratio is 45.10%.

Analyst Ratings Changes

TSCO has been the subject of a number of research analyst reports. Mizuho upped their target price on shares of Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Barclays reduced their price objective 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. JPMorgan Chase & Co. lifted their target price on Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Bank of America upped their price target on Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a research report on Thursday, January 16th. Finally, Truist Financial lowered their price objective on shares of Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Tractor Supply has a consensus rating of “Moderate Buy” and an average price target of $59.22.

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.