Motley Fool Wealth Management LLC Boosts Position in Tractor Supply (NASDAQ:TSCO)

Motley Fool Wealth Management LLC lifted its position in Tractor Supply (NASDAQ:TSCO) by 386.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 121,344 shares of the specialty retailer’s stock after purchasing an additional 96,411 shares during the quarter. Motley Fool Wealth Management LLC’s holdings in Tractor Supply were worth $6,439,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Financial Counselors Inc. lifted its stake in shares of Tractor Supply by 357.9% in the 4th quarter. Financial Counselors Inc. now owns 4,355 shares of the specialty retailer’s stock valued at $231,000 after purchasing an additional 3,404 shares during the last quarter. Penobscot Investment Management Company Inc. raised its holdings in Tractor Supply by 371.1% in the 4th quarter. Penobscot Investment Management Company Inc. now owns 34,615 shares of the specialty retailer’s stock valued at $1,837,000 after buying an additional 27,267 shares during the period. Morey & Quinn Wealth Partners LLC acquired a new position in Tractor Supply in the fourth quarter valued at about $393,000. Trust Investment Advisors boosted its stake in Tractor Supply by 372.8% during the fourth quarter. Trust Investment Advisors now owns 30,545 shares of the specialty retailer’s stock worth $1,621,000 after buying an additional 24,084 shares during the period. Finally, Wambolt & Associates LLC increased its position in shares of Tractor Supply by 400.4% during the fourth quarter. Wambolt & Associates LLC now owns 5,890 shares of the specialty retailer’s stock valued at $313,000 after acquiring an additional 4,713 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Tractor Supply Stock Performance

TSCO opened at $52.83 on Wednesday. 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’s 50 day moving average is $55.00 and its 200-day moving average is $55.67. The stock has a market cap of $28.21 billion, a PE ratio of 25.90, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. Tractor Supply has a twelve month low of $48.30 and a twelve month 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%. On average, analysts predict that Tractor Supply will post 2.17 earnings per share for the current year.

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

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were paid a $0.92 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a yield of 6.97%. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio (DPR) is currently 45.10%.

Insiders Place Their Bets

In other news, CEO Harry A. Lawton III sold 88,095 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 488,852 shares of the company’s stock, valued at $26,686,430.68. This represents a 15.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Melissa Kersey sold 9,300 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $53.17, for a total transaction of $494,481.00. Following the transaction, the executive vice president now directly owns 34,961 shares in the company, valued at $1,858,876.37. The trade was a 21.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 137,993 shares of company stock worth $7,538,068. Company insiders own 0.58% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on TSCO shares. Loop Capital raised their price target on Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a research report on Thursday, December 12th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $67.00 target price on shares of Tractor Supply in a research report on Thursday, January 30th. Guggenheim reiterated a “buy” rating and set a $60.00 price target on shares of Tractor Supply in a research note on Friday, January 31st. 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 note on Friday, January 31st. Finally, Barclays cut their target price on shares of Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Monday, December 30th. 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.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.