Glenview Trust co Buys 13,491 Shares of Tractor Supply (NASDAQ:TSCO)

Glenview Trust co raised its stake in Tractor Supply (NASDAQ:TSCO) by 750.8% during the 4th quarter, Holdings Channel reports. The fund owned 15,288 shares of the specialty retailer’s stock after acquiring an additional 13,491 shares during the period. Glenview Trust co’s holdings in Tractor Supply were worth $811,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of TSCO. Smithfield Trust Co grew its position in shares of Tractor Supply by 286.2% during the 4th quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 352 shares in the last quarter. PrairieView Partners LLC grew its position in shares of Tractor Supply by 400.0% during the 4th quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 400 shares in the last quarter. Future Financial Wealth Managment LLC grew its position in shares of Tractor Supply by 400.0% during the 4th quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 400 shares in the last quarter. Archer Investment Corp grew its position in shares of Tractor Supply by 400.0% during the 4th quarter. Archer Investment Corp now owns 500 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 400 shares in the last quarter. Finally, Kentucky Trust Co acquired a new position in shares of Tractor Supply during the 4th quarter worth approximately $27,000. 98.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on TSCO. Guggenheim restated a “buy” rating and set a $60.00 target price on shares of Tractor Supply in a research report on Friday, January 31st. Truist Financial decreased their target price on shares of Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Telsey Advisory Group reiterated an “outperform” rating and set a $67.00 price target on shares of Tractor Supply in a research report on Thursday, January 30th. Mizuho increased their price target on shares of Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Finally, 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. 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. According to data from MarketBeat.com, Tractor Supply currently has a consensus rating of “Moderate Buy” and an average target price of $59.22.

Tractor Supply Stock Performance

Shares of Tractor Supply stock opened at $53.13 on Tuesday. Tractor Supply has a fifty-two week low of $48.30 and a fifty-two week high of $61.53. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. The firm has a market capitalization of $28.37 billion, a P/E ratio of 26.04, a P/E/G ratio of 2.95 and a beta of 0.85. The company’s 50 day moving average price is $55.18 and its two-hundred day moving average price is $55.73.

Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were paid a dividend of $0.92 per share. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 annualized dividend and a dividend yield of 6.93%. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio (DPR) is presently 45.10%.

Tractor Supply declared that its Board of Directors has authorized a share repurchase program on Thursday, February 13th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the specialty retailer to buy up to 3.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, SVP Matthew L. Rubin sold 3,850 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total transaction of $222,106.50. Following the completion of the transaction, the senior vice president now owns 31,787 shares of the company’s stock, valued at approximately $1,833,792.03. This trade represents a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Colin Yankee sold 24,602 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $54.15, for a total transaction of $1,332,198.30. Following the transaction, the executive vice president now directly owns 33,645 shares of the company’s stock, valued at $1,821,876.75. The trade was a 42.24 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 137,993 shares of company stock valued at $7,538,068. Insiders own 0.24% of the company’s stock.

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.