Tractor Supply (NASDAQ:TSCO) Shares Bought by Optimum Investment Advisors

Optimum Investment Advisors lifted its stake in shares of Tractor Supply (NASDAQ:TSCO) by 400.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,650 shares of the specialty retailer’s stock after buying an additional 6,920 shares during the quarter. Optimum Investment Advisors’ holdings in Tractor Supply were worth $459,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Providence Capital Advisors LLC acquired a new position in Tractor Supply during the 3rd quarter worth $32,000. Larson Financial Group LLC grew its stake in Tractor Supply by 29.4% in 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 in the last quarter. First Horizon Advisors Inc. increased its holdings in Tractor Supply by 13.2% in the third quarter. First Horizon Advisors Inc. now owns 351 shares of the specialty retailer’s stock valued at $102,000 after buying an additional 41 shares during the last quarter. Icon Wealth Advisors LLC acquired a new stake in Tractor Supply during the third quarter valued at approximately $111,000. Finally, Glen Eagle Advisors LLC lifted its holdings in Tractor Supply by 75.8% during the 3rd quarter. Glen Eagle Advisors LLC now owns 464 shares of the specialty retailer’s stock worth $135,000 after buying an additional 200 shares during the last quarter. Institutional investors own 98.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Loop Capital boosted their price target on Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a report on Thursday, December 12th. Bank of America boosted their target price on shares of Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a research note on Thursday, January 16th. Barclays reduced their price target 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. Truist Financial lowered their price objective on shares of Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Finally, Guggenheim restated a “buy” rating and issued a $60.00 target price on shares of Tractor Supply in a research note on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Tractor Supply presently has an average rating of “Moderate Buy” and a consensus price target of $59.22.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were 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. The trade was a 10.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $4,809,106.05. Following the transaction, the chief executive officer now owns 488,852 shares of the company’s stock, valued at approximately $26,686,430.68. This trade represents a 15.27 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 137,993 shares of company stock valued at $7,538,068. 0.24% of the stock is owned by corporate insiders.

Tractor Supply Price Performance

Shares of NASDAQ TSCO opened at $52.46 on Friday. The firm’s 50-day simple moving average is $55.03 and its 200 day simple moving average is $55.68. The stock has a market cap of $28.01 billion, a P/E ratio of 25.72, a P/E/G ratio of 2.95 and a beta of 0.85. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. Tractor Supply has a fifty-two week low of $48.30 and a fifty-two week high of $61.53.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results 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 return on equity of 49.01% and a net margin of 7.40%. Equities analysts expect that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 7.01%. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. Tractor Supply’s dividend payout ratio is 45.10%.

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

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.