Smith Salley Wealth Management Invests $892,000 in Tractor Supply Company $TSCO

Smith Salley Wealth Management purchased a new position in shares of Tractor Supply Company (NASDAQ:TSCO) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 17,843 shares of the specialty retailer’s stock, valued at approximately $892,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Aventura Private Wealth LLC acquired a new stake in shares of Tractor Supply during the 4th quarter worth approximately $27,000. JPL Wealth Management LLC acquired a new stake in shares of Tractor Supply during the 3rd quarter worth approximately $28,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Tractor Supply during the 4th quarter worth approximately $35,000. Clayton Financial Group LLC acquired a new stake in shares of Tractor Supply during the 3rd quarter worth approximately $44,000. Finally, First Horizon Corp acquired a new stake in shares of Tractor Supply during the 3rd quarter worth approximately $44,000. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Tractor Supply Stock Performance

Shares of TSCO stock opened at $44.81 on Tuesday. Tractor Supply Company has a 12-month low of $43.23 and a 12-month high of $63.99. The firm has a market capitalization of $23.57 billion, a price-to-earnings ratio of 21.65, a price-to-earnings-growth ratio of 2.40 and a beta of 0.75. The business has a 50 day simple moving average of $48.52 and a 200 day simple moving average of $51.64. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.34 and a quick ratio of 0.16.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings data on Thursday, January 29th. The specialty retailer reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.03). The business had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $4.03 billion. Tractor Supply had a return on equity of 44.36% and a net margin of 7.06%.The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company earned $0.44 earnings per share. On average, equities research analysts anticipate that Tractor Supply Company will post 2.18 EPS for the current year.

Tractor Supply Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, February 24th. This is an increase from Tractor Supply’s previous quarterly dividend of $0.23. Tractor Supply’s dividend payout ratio is 46.38%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on TSCO shares. Gordon Haskett lowered Tractor Supply from an “accumulate” rating to a “hold” rating and decreased their price objective for the stock from $57.00 to $50.00 in a report on Thursday, January 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of Tractor Supply in a report on Monday, December 29th. Argus decreased their price objective on Tractor Supply from $67.00 to $64.00 and set a “buy” rating for the company in a report on Monday, February 2nd. Wolfe Research reissued an “outperform” rating and issued a $57.00 price objective on shares of Tractor Supply in a report on Friday, January 30th. Finally, DA Davidson reissued a “buy” rating and issued a $60.00 price objective on shares of Tractor Supply in a report on Thursday, April 16th. Fourteen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Tractor Supply has a consensus rating of “Moderate Buy” and a consensus price target of $57.78.

Insider Activity

In other Tractor Supply news, EVP Robert D. Mills sold 62,950 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $54.12, for a total transaction of $3,406,854.00. Following the completion of the transaction, the executive vice president directly owned 122,834 shares of the company’s stock, valued at approximately $6,647,776.08. This trade represents a 33.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jonathan S. Estep sold 59,745 shares of the stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $54.03, for a total value of $3,228,022.35. Following the transaction, the executive vice president directly owned 80,931 shares of the company’s stock, valued at approximately $4,372,701.93. The trade was a 42.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 222,348 shares of company stock worth $11,959,621 in the last quarter. 0.64% of the stock is currently owned by corporate insiders.

Tractor Supply Company Profile

Tractor Supply Company (NASDAQ: TSCO) is a specialty retailer focused on products for the home, farm, ranch and outdoors. The company operates a network of physical retail locations complemented by an e-commerce platform, offering a one-stop source of supplies and equipment for customers with rural and suburban lifestyles. Its merchandise assortment targets a range of needs, from animal and livestock care to maintenance, outdoor power equipment, and seasonal products.

Product categories include animal feed and supplies, pet products, fencing and fencing supplies, equine equipment, lawn and garden tools, work clothing and footwear, and small agricultural and outdoor power equipment.