Tractor Supply (NASDAQ:TSCO) Holdings Lifted by Holderness Investments Co.

Holderness Investments Co. boosted its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 384.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,675 shares of the specialty retailer’s stock after buying an additional 6,090 shares during the period. Holderness Investments Co.’s holdings in Tractor Supply were worth $407,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Baldwin Investment Management LLC lifted its position in shares of Tractor Supply by 0.3% in the third quarter. Baldwin Investment Management LLC now owns 11,402 shares of the specialty retailer’s stock worth $3,317,000 after purchasing an additional 38 shares in the last quarter. First Horizon Advisors Inc. grew its position in Tractor Supply by 13.2% during the third quarter. First Horizon Advisors Inc. now owns 351 shares of the specialty retailer’s stock valued at $102,000 after purchasing an additional 41 shares in the last quarter. Cynosure Group LLC increased its stake in Tractor Supply by 2.8% in the 3rd quarter. Cynosure Group LLC now owns 1,529 shares of the specialty retailer’s stock valued at $445,000 after buying an additional 42 shares during the period. Strategy Asset Managers LLC lifted its position in Tractor Supply by 5.4% in the 3rd quarter. Strategy Asset Managers LLC now owns 1,198 shares of the specialty retailer’s stock worth $348,000 after buying an additional 61 shares in the last quarter. Finally, Larson Financial Group LLC boosted its stake in shares of Tractor Supply by 29.4% during the 3rd quarter. Larson Financial Group LLC now owns 286 shares of the specialty retailer’s stock valued at $83,000 after buying an additional 65 shares during the period. 98.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on TSCO shares. Loop Capital upped their price target on shares of Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a research note on Thursday, December 12th. Barclays dropped their target price on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Monday, December 30th. JPMorgan Chase & Co. lifted their price target on Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Guggenheim restated a “buy” rating and issued a $60.00 price objective on shares of Tractor Supply in a report on Friday, January 31st. Finally, Wells Fargo & Company cut their price objective on shares of Tractor Supply from $65.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $59.22.

Insider Transactions at Tractor Supply

In other news, EVP Colin Yankee sold 24,602 shares of Tractor Supply stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $54.15, for a total transaction of $1,332,198.30. Following the sale, the executive vice president now owns 33,645 shares of the company’s stock, valued at approximately $1,821,876.75. This trade represents a 42.24 % 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, SVP Matthew L. Rubin sold 3,850 shares of the business’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 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. This represents a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 137,993 shares of company stock worth $7,538,068. 0.24% of the stock is currently owned by company insiders.

Tractor Supply Price Performance

Shares of NASDAQ:TSCO opened at $51.84 on Friday. The company has a market cap of $27.68 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 2.95 and a beta of 0.85. The business has a 50 day moving average price of $55.07 and a 200 day moving average price of $55.67. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. Tractor Supply has a twelve month low of $48.30 and a twelve month high of $61.53.

Tractor Supply (NASDAQ:TSCO) last posted 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%. Research analysts predict that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were given a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 7.10%. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, February 26th. Tractor Supply’s dividend payout ratio (DPR) is currently 45.10%.

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

Tractor Supply 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.