ICW Investment Advisors LLC Boosts Stake in Tractor Supply (NASDAQ:TSCO)

ICW Investment Advisors LLC grew its stake in shares of Tractor Supply (NASDAQ:TSCO) by 459.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,220 shares of the specialty retailer’s stock after buying an additional 5,108 shares during the quarter. ICW Investment Advisors LLC’s holdings in Tractor Supply were worth $330,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Tractor Supply by 1,674.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 18,492 shares of the specialty retailer’s stock worth $5,380,000 after purchasing an additional 17,450 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in shares of Tractor Supply by 13.2% in the 3rd quarter. First Horizon Advisors Inc. now owns 351 shares of the specialty retailer’s stock valued at $102,000 after acquiring an additional 41 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Tractor Supply by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 631,406 shares of the specialty retailer’s stock worth $183,695,000 after acquiring an additional 8,142 shares during the last quarter. Icon Wealth Advisors LLC bought a new position in Tractor Supply during the 3rd quarter worth approximately $431,000. Finally, Meridian Wealth Management LLC bought a new position in Tractor Supply during the 3rd quarter worth approximately $558,000. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Insider Buying and Selling

In other Tractor Supply news, CEO Harry A. Lawton III sold 88,095 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $54.59, for a total transaction of $4,809,106.05. Following the completion of the sale, the chief executive officer now owns 488,852 shares of the company’s stock, valued at approximately $26,686,430.68. The trade was a 15.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 of the company’s stock, valued at $1,833,792.03. This represents a 10.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 137,993 shares of company stock valued at $7,538,068 over the last 90 days. Company insiders own 0.24% of the company’s stock.

Tractor Supply Stock Up 1.2 %

TSCO stock opened at $52.46 on Monday. Tractor Supply has a 1-year low of $48.30 and a 1-year high of $61.53. The business has a fifty day moving average price of $55.03 and a 200-day moving average price of $55.69. 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 stock has a market capitalization 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.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 EPS for the quarter, missing the consensus estimate 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 forecast that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply announced that its board has initiated a stock buyback plan on Thursday, February 13th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the specialty retailer to buy up to 3.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were issued a $0.92 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 annualized dividend and a dividend yield of 7.01%. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s payout ratio is presently 45.10%.

Analysts Set New Price Targets

Several equities analysts recently issued reports 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. Bank of America raised their price target on Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a research report on Thursday, January 16th. Telsey Advisory Group restated an “outperform” rating and set a $67.00 price target on shares of Tractor Supply in a research report on Thursday, January 30th. Truist Financial reduced their price target on Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. lifted their price objective on Tractor Supply from $58.00 to $59.00 and gave the stock a “neutral” rating in a research report 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.22.

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.