Sagespring Wealth Partners LLC Acquires New Stake in Tractor Supply (NASDAQ:TSCO)

Sagespring Wealth Partners LLC purchased a new position in shares of Tractor Supply (NASDAQ:TSCO) in the 4th quarter, HoldingsChannel reports. The firm purchased 32,962 shares of the specialty retailer’s stock, valued at approximately $1,749,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. XTX Topco Ltd acquired a new position in shares of Tractor Supply in the 3rd quarter valued at about $220,000. Wilmington Savings Fund Society FSB acquired a new position in Tractor Supply in the third quarter valued at approximately $734,000. Tidal Investments LLC lifted its stake in Tractor Supply by 722.5% in the third quarter. Tidal Investments LLC now owns 95,172 shares of the specialty retailer’s stock valued at $27,688,000 after buying an additional 83,601 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Tractor Supply by 2.0% during the 3rd quarter. Franklin Resources Inc. now owns 454,175 shares of the specialty retailer’s stock worth $137,950,000 after buying an additional 8,890 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in Tractor Supply by 345.6% in the fourth quarter. Versant Capital Management Inc now owns 860 shares of the specialty retailer’s stock worth $46,000 after purchasing an additional 667 shares during the period. Institutional investors and hedge funds own 98.72% of the company’s stock.

Insider Buying and Selling at Tractor Supply

In other news, EVP Melissa Kersey sold 9,300 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $53.17, for a total transaction of $494,481.00. Following the transaction, the executive vice president now directly owns 34,961 shares in the company, valued at approximately $1,858,876.37. This represents a 21.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Matthew L. Rubin sold 3,850 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $57.69, for a total value of $222,106.50. Following the completion of the sale, the senior vice president now owns 31,787 shares of the company’s stock, valued at $1,833,792.03. The trade was a 10.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 137,993 shares of company stock worth $7,538,068 over the last 90 days. Corporate insiders own 0.24% of the company’s stock.

Tractor Supply Stock Performance

Tractor Supply stock opened at $51.67 on Monday. Tractor Supply has a 1-year low of $46.97 and a 1-year high of $61.53. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $27.47 billion, a PE ratio of 25.33, a price-to-earnings-growth ratio of 2.95 and a beta of 0.88. The firm’s 50 day simple moving average is $54.07 and its 200 day simple moving average is $55.35.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share (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%. As a group, analysts expect that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

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

Tractor Supply Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 7.12%. The ex-dividend date of this dividend was Wednesday, February 26th. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio is currently 45.10%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Guggenheim reaffirmed a “buy” rating and issued a $60.00 target price on shares of Tractor Supply in a research report on Friday, January 31st. Truist Financial lowered their target price 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. Telsey Advisory Group reiterated an “outperform” rating and issued a $67.00 target price on shares of Tractor Supply in a report on Thursday, January 30th. Bank of America lifted their price target on Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a research note on Thursday, January 16th. Finally, Mizuho increased 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. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.07.

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.