Dearborn Partners LLC Has $41.90 Million Stock Position in Tractor Supply (NASDAQ:TSCO)

Dearborn Partners LLC lifted its stake in Tractor Supply (NASDAQ:TSCO) by 390.5% during the 4th quarter, Holdings Channel reports. The firm owned 789,672 shares of the specialty retailer’s stock after acquiring an additional 628,664 shares during the period. Tractor Supply makes up 1.8% of Dearborn Partners LLC’s holdings, making the stock its 15th biggest holding. Dearborn Partners LLC’s holdings in Tractor Supply were worth $41,900,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Smithfield Trust Co grew its position in shares of Tractor Supply by 286.2% during the 4th quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer’s stock worth $25,000 after buying an additional 352 shares during the period. PrairieView Partners LLC boosted its stake in Tractor Supply by 400.0% during the 4th quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 400 shares during the last quarter. Future Financial Wealth Managment LLC grew its holdings in Tractor Supply by 400.0% during the fourth quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 400 shares during the period. Archer Investment Corp increased its stake in Tractor Supply by 400.0% in the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 400 shares in the last quarter. Finally, Kentucky Trust Co bought a new stake in Tractor Supply in the fourth quarter valued at approximately $27,000. 98.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Harry A. Lawton III sold 88,095 shares of the company’s stock in a transaction dated 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 directly owns 488,852 shares of the company’s stock, valued at approximately $26,686,430.68. This represents a 15.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Melissa Kersey sold 9,300 shares of Tractor Supply stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $53.17, for a total value of $494,481.00. Following the transaction, the executive vice president now owns 34,961 shares of the company’s stock, valued at $1,858,876.37. The trade was a 21.01 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 137,993 shares of company stock valued at $7,538,068. 0.24% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TSCO shares. Wells Fargo & Company decreased their price target on shares of Tractor Supply from $65.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Truist Financial reduced their target price on Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Barclays lowered their price target on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a report on Monday, December 30th. Evercore ISI upgraded Tractor Supply from a “hold” rating to a “strong-buy” rating in a report on Friday, November 15th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $67.00 target price on shares of Tractor Supply in a research note on Thursday, January 30th. 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $59.22.

Tractor Supply Trading Up 0.6 %

Shares of NASDAQ:TSCO opened at $57.21 on Tuesday. The company’s 50-day moving average price is $55.20 and its two-hundred day moving average price is $55.79. Tractor Supply has a one year low of $48.30 and a one year high of $61.53. 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 $30.55 billion, a PE ratio of 28.04, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85.

Tractor Supply (NASDAQ:TSCO) last released its earnings results 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 net margin of 7.40% and a return on equity of 49.01%. On average, equities analysts forecast that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply announced that its board has authorized a share repurchase plan on Thursday, February 13th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the specialty retailer to buy up to 3.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Tractor Supply Increases Dividend

The business 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 dividend of $0.92 per share. The ex-dividend date is Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 6.43%. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio is currently 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.