Tractor Supply (NASDAQ:TSCO) Shares Purchased by Harbour Investment Management LLC

Harbour Investment Management LLC increased its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 400.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,950 shares of the specialty retailer’s stock after acquiring an additional 3,160 shares during the period. Harbour Investment Management LLC’s holdings in Tractor Supply were worth $210,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TSCO. Smithfield Trust Co grew its holdings in Tractor Supply by 286.2% during the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer’s stock worth $25,000 after acquiring an additional 352 shares during the period. PrairieView Partners LLC grew its holdings in Tractor Supply by 400.0% during the fourth 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 period. 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 worth $27,000 after acquiring an additional 400 shares during the period. Archer Investment Corp grew its holdings in Tractor Supply by 400.0% during the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 400 shares during the period. Finally, Kentucky Trust Co acquired a new stake in Tractor Supply in the fourth quarter valued at $27,000. Institutional investors and hedge funds own 98.72% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on TSCO. Mizuho upped their target price on Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. 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 report on Friday, January 31st. JPMorgan Chase & Co. upped their target price on Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Telsey Advisory Group reissued an “outperform” rating and issued a $67.00 target price on shares of Tractor Supply in a report on Thursday, January 30th. Finally, Barclays lowered their target price on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating on the stock in a report on Monday, December 30th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.22.

Tractor Supply Stock Performance

Tractor Supply stock opened at $51.83 on Friday. The stock’s 50-day moving average is $55.19 and its 200-day moving average is $55.72. The company has a market cap of $27.68 billion, a price-to-earnings ratio of 25.41, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. Tractor Supply has a 12 month low of $48.30 and a 12 month high of $61.53.

Tractor Supply (NASDAQ:TSCO) last released 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 analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 7.10%. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. Tractor Supply’s dividend payout ratio (DPR) is 45.10%.

Tractor Supply announced that its Board of Directors has approved a stock repurchase plan on Thursday, February 13th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to purchase up to 3.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Tractor Supply

In related news, CFO Kurt D. Barton sold 12,146 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $56.00, for a total transaction 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Matthew L. Rubin sold 3,850 shares of the firm’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 owns 31,787 shares in the company, valued at approximately $1,833,792.03. The trade was a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 137,993 shares of company stock worth $7,538,068 in the last three months. 0.24% of the stock is currently owned by company insiders.

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.