HFR Wealth Management LLC Acquires 207,520 Shares of Tractor Supply (NASDAQ:TSCO)

HFR Wealth Management LLC lifted its holdings in Tractor Supply (NASDAQ:TSCO) by 399.6% in the fourth quarter, HoldingsChannel reports. The fund owned 259,457 shares of the specialty retailer’s stock after buying an additional 207,520 shares during the period. Tractor Supply makes up 3.4% of HFR Wealth Management LLC’s investment portfolio, making the stock its 11th biggest position. HFR Wealth Management LLC’s holdings in Tractor Supply were worth $13,767,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in TSCO. PrairieView Partners LLC lifted its stake in Tractor Supply by 400.0% in the fourth quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 400 shares during the last quarter. Future Financial Wealth Managment LLC grew its stake 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 valued at $27,000 after buying an additional 400 shares during the last quarter. Archer Investment Corp lifted its stake in shares of Tractor Supply by 400.0% in the 4th quarter. Archer Investment Corp now owns 500 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 400 shares during the last quarter. Kentucky Trust Co purchased a new stake in Tractor Supply during the 4th quarter valued at about $27,000. Finally, First Command Advisory Services Inc. boosted its holdings in Tractor Supply by 400.0% during the 4th quarter. First Command Advisory Services Inc. now owns 500 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 400 shares during the period. 98.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Mizuho boosted their price objective on Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $67.00 target price on shares of Tractor Supply in a research note on Thursday, January 30th. Evercore ISI upgraded shares of Tractor Supply from a “hold” rating to a “strong-buy” rating in a report on Friday, November 15th. Barclays decreased 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 report on Monday, December 30th. Finally, Loop Capital upped 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. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $59.22.

Tractor Supply Stock Performance

Shares of Tractor Supply stock opened at $54.95 on Thursday. Tractor Supply has a 12 month low of $48.30 and a 12 month high of $61.53. The firm has a market capitalization of $29.34 billion, a P/E ratio of 26.94, a P/E/G ratio of 2.95 and a beta of 0.85. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. The business has a fifty day simple moving average of $55.08 and a two-hundred day simple moving average of $55.71.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly 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%. On average, equities analysts forecast that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th will be paid a $0.92 dividend. The ex-dividend date is Wednesday, February 26th. This represents a $3.68 annualized dividend and a dividend yield of 6.70%. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio is presently 45.10%.

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

Insider Activity at Tractor Supply

In related news, EVP Melissa Kersey sold 9,300 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $53.17, for a total value of $494,481.00. Following the transaction, the executive vice president now owns 34,961 shares in the company, valued at $1,858,876.37. The trade was a 21.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Matthew L. Rubin sold 3,850 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $57.69, for a total transaction of $222,106.50. Following the sale, the senior vice president now owns 31,787 shares of the company’s stock, valued at approximately $1,833,792.03. This represents a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 137,993 shares of company stock valued at $7,538,068 in the last 90 days. Corporate insiders own 0.24% of the company’s stock.

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.