Signaturefd LLC Increases Position in Tractor Supply (NASDAQ:TSCO)

Signaturefd LLC raised its holdings in Tractor Supply (NASDAQ:TSCO) by 412.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,519 shares of the specialty retailer’s stock after acquiring an additional 10,076 shares during the period. Signaturefd LLC’s holdings in Tractor Supply were worth $664,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Parallel Advisors LLC grew its holdings in Tractor Supply by 477.5% in the 4th quarter. Parallel Advisors LLC now owns 8,634 shares of the specialty retailer’s stock valued at $458,000 after buying an additional 7,139 shares in the last quarter. Cibc World Markets Corp boosted its position in shares of Tractor Supply by 475.9% during the 4th quarter. Cibc World Markets Corp now owns 84,515 shares of the specialty retailer’s stock valued at $4,484,000 after acquiring an additional 69,839 shares during the last quarter. SouthState Corp grew its holdings in shares of Tractor Supply by 749.1% in the fourth quarter. SouthState Corp now owns 30,000 shares of the specialty retailer’s stock valued at $1,592,000 after purchasing an additional 26,467 shares during the period. Creative Financial Designs Inc. ADV increased its position in Tractor Supply by 401.4% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 707 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 566 shares during the last quarter. Finally, Jensen Investment Management Inc. raised its stake in Tractor Supply by 400.0% during the fourth quarter. Jensen Investment Management Inc. now owns 126,150 shares of the specialty retailer’s stock worth $6,694,000 after purchasing an additional 100,920 shares during the period. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Telsey Advisory Group restated an “outperform” rating and set a $67.00 price target on shares of Tractor Supply in a report on Thursday, January 30th. JPMorgan Chase & Co. upped their price target on Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Truist Financial cut their price objective on Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Loop Capital upped their target price on shares of Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a research report on Thursday, December 12th. Finally, Mizuho boosted their price target on shares of Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. 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 issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $59.22.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total value of $222,106.50. Following the transaction, the senior vice president now 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Harry A. Lawton III sold 88,095 shares of the stock in a transaction 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 sale, the chief executive officer now owns 488,852 shares of the company’s stock, valued at $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 Trading Up 0.3 %

NASDAQ TSCO opened at $52.80 on Thursday. 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 company has a market capitalization of $28.20 billion, a price-to-earnings ratio of 25.88, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. Tractor Supply has a 12 month low of $48.30 and a 12 month high of $61.53. The company’s fifty day moving average price is $55.12 and its two-hundred day moving average price is $55.70.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data 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 return on equity of 49.01% and a net margin of 7.40%. As a group, research analysts predict that Tractor Supply will post 2.17 earnings per share for the current fiscal 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 6.97%. 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 declared that its board has authorized a share buyback plan on Thursday, February 13th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the specialty retailer to buy up to 3.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is 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.