Smith Moore & CO. Has $1.32 Million Position in Tractor Supply (NASDAQ:TSCO)

Smith Moore & CO. boosted its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 381.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 24,901 shares of the specialty retailer’s stock after acquiring an additional 19,733 shares during the period. Smith Moore & CO.’s holdings in Tractor Supply were worth $1,321,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Prudential PLC boosted its position in shares of Tractor Supply by 360.9% in the 4th quarter. Prudential PLC now owns 243,151 shares of the specialty retailer’s stock worth $12,902,000 after purchasing an additional 190,396 shares during the last quarter. Landscape Capital Management L.L.C. boosted its holdings in Tractor Supply by 153.3% during the fourth quarter. Landscape Capital Management L.L.C. now owns 14,213 shares of the specialty retailer’s stock worth $754,000 after buying an additional 8,601 shares during the last quarter. PAX Financial Group LLC grew its position in shares of Tractor Supply by 384.9% during the 4th quarter. PAX Financial Group LLC now owns 14,668 shares of the specialty retailer’s stock worth $778,000 after buying an additional 11,643 shares during the period. Thoroughbred Financial Services LLC increased its stake in shares of Tractor Supply by 394.2% in the 4th quarter. Thoroughbred Financial Services LLC now owns 86,223 shares of the specialty retailer’s stock valued at $4,575,000 after acquiring an additional 68,775 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC raised its position in shares of Tractor Supply by 1,215.2% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,210 shares of the specialty retailer’s stock valued at $64,000 after acquiring an additional 1,118 shares during the period. Institutional investors own 98.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Truist Financial lowered their target price 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. Mizuho raised their price objective on Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Loop Capital boosted their target price on Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, December 12th. JPMorgan Chase & Co. raised their price target on Tractor Supply from $58.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Finally, Guggenheim reiterated a “buy” rating and issued a $60.00 price objective on shares of Tractor Supply in a research report on Friday, January 31st. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Tractor Supply presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.22.

Insiders Place Their Bets

In other news, EVP Melissa Kersey sold 9,300 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $53.17, for a total value of $494,481.00. Following the completion of the transaction, the executive vice president now owns 34,961 shares of the company’s stock, valued at $1,858,876.37. This represents a 21.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Matthew L. Rubin sold 3,850 shares of the firm’s stock in a transaction that occurred 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 position. The disclosure for this sale can be found here. Insiders sold a total of 137,993 shares of company stock valued at $7,538,068 in the last 90 days. Corporate insiders own 0.24% of the company’s stock.

Tractor Supply Trading Down 6.0 %

Shares of TSCO stock opened at $52.40 on Friday. Tractor Supply has a fifty-two week low of $48.30 and a fifty-two week high of $61.53. The stock’s fifty day moving average price is $54.84 and its two-hundred day moving average price is $55.61. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. The company has a market cap of $27.86 billion, a PE ratio of 25.69, a P/E/G ratio of 2.95 and a beta of 0.88.

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 the consensus estimate of $2.28 by ($1.84). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. Equities analysts predict that Tractor Supply will post 2.17 EPS for the current fiscal year.

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 given a dividend of $0.92 per share. 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 7.02%. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s payout ratio is currently 45.10%.

Tractor Supply declared that its Board of Directors has approved a stock buyback program on Thursday, February 13th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to repurchase up to 3.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

About Tractor Supply

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.