Tractor Supply (NASDAQ:TSCO) Stock Position Raised by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC lifted its stake in shares of Tractor Supply (NASDAQ:TSCO) by 506.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,131 shares of the specialty retailer’s stock after acquiring an additional 55,232 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Tractor Supply were worth $3,509,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Raymond James Financial Inc. acquired a new stake in shares of Tractor Supply in the fourth quarter worth $329,458,000. Meridiem Investment Management Ltd. boosted its position in shares of Tractor Supply by 398.9% in the fourth quarter. Meridiem Investment Management Ltd. now owns 5,118,785 shares of the specialty retailer’s stock worth $271,674,000 after buying an additional 4,092,808 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Tractor Supply by 403.3% in the fourth quarter. Bank of New York Mellon Corp now owns 3,912,752 shares of the specialty retailer’s stock worth $207,611,000 after buying an additional 3,135,384 shares during the period. Alecta Tjanstepension Omsesidigt boosted its position in shares of Tractor Supply by 400.0% in the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 3,750,000 shares of the specialty retailer’s stock worth $199,012,000 after buying an additional 3,000,000 shares during the period. Finally, Provident Trust Co. boosted its position in shares of Tractor Supply by 397.4% in the fourth quarter. Provident Trust Co. now owns 3,380,905 shares of the specialty retailer’s stock worth $179,391,000 after buying an additional 2,701,204 shares during the period. 98.72% of the stock is owned by institutional investors.

Insider Transactions at Tractor Supply

In related news, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $57.69, for a total transaction 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 trade represents a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kurt D. Barton sold 12,146 shares of Tractor Supply stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $56.00, for a total value of $680,176.00. Following the sale, the chief financial officer now directly owns 47,715 shares in the company, valued at approximately $2,672,040. This trade represents a 20.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 137,993 shares of company stock worth $7,538,068. Company insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

TSCO has been the subject of several recent analyst reports. Wells Fargo & Company decreased their target price on Tractor Supply from $65.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Mizuho lifted their price objective on Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Barclays reduced their price objective on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a research report on Monday, December 30th. Truist Financial reduced 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. Finally, Guggenheim reissued a “buy” rating and set a $60.00 price objective on shares of Tractor Supply in a research report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Tractor Supply has a consensus rating of “Moderate Buy” and a consensus target price of $59.22.

Tractor Supply Trading Up 4.2 %

Tractor Supply stock opened at $56.89 on Friday. 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 business’s 50-day simple moving average is $55.06 and its 200-day simple moving average is $55.70. The firm has a market capitalization of $30.38 billion, a PE ratio of 27.89, a PEG ratio of 2.95 and a beta of 0.85. Tractor Supply has a 52 week low of $48.30 and a 52 week high of $61.53.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data 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%. Equities research analysts forecast that Tractor Supply will post 2.17 earnings per share for the current year.

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

Tractor Supply Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th will be paid a $0.92 dividend. The ex-dividend date is Wednesday, February 26th. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 dividend on an annualized basis and a dividend yield of 6.47%. Tractor Supply’s payout ratio is presently 45.10%.

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.