Southeast Asset Advisors LLC Acquires 39,639 Shares of Tractor Supply (NASDAQ:TSCO)

Southeast Asset Advisors LLC boosted its stake in Tractor Supply (NASDAQ:TSCO) by 372.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,290 shares of the specialty retailer’s stock after acquiring an additional 39,639 shares during the period. Southeast Asset Advisors LLC’s holdings in Tractor Supply were worth $2,668,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Rathbones Group PLC increased its position in shares of Tractor Supply by 395.1% during the fourth quarter. Rathbones Group PLC now owns 5,050 shares of the specialty retailer’s stock valued at $268,000 after buying an additional 4,030 shares during the period. Legal & General Group Plc grew its holdings in shares of Tractor Supply by 330.7% during the 4th quarter. Legal & General Group Plc now owns 4,447,964 shares of the specialty retailer’s stock worth $236,009,000 after acquiring an additional 3,415,318 shares during the period. Invesco Ltd. raised its position in shares of Tractor Supply by 407.9% in the 4th quarter. Invesco Ltd. now owns 8,766,224 shares of the specialty retailer’s stock worth $465,136,000 after acquiring an additional 7,040,165 shares in the last quarter. Bank of Montreal Can lifted its position in Tractor Supply by 840.9% during the fourth quarter. Bank of Montreal Can now owns 963,097 shares of the specialty retailer’s stock valued at $51,102,000 after buying an additional 860,739 shares during the period. Finally, Bell Asset Management Ltd increased its stake in shares of Tractor Supply by 536.8% in the 4th quarter. Bell Asset Management Ltd now owns 127,350 shares of the specialty retailer’s stock worth $6,757,000 after acquiring an additional 107,353 shares in the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

Tractor Supply Stock Performance

Shares of TSCO opened at $52.40 on Monday. The firm has a market capitalization of $27.86 billion, a P/E ratio of 25.69, a PEG ratio of 2.95 and a beta of 0.88. 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 one year low of $48.30 and a one year high of $61.53. The business has a fifty day moving average of $54.84 and a 200 day moving average of $55.62.

Tractor Supply (NASDAQ:TSCO) last released its quarterly 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%. As a group, sell-side analysts anticipate that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The firm 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. The ex-dividend date of this dividend was Wednesday, February 26th. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 annualized dividend and a yield of 7.02%. Tractor Supply’s dividend payout ratio (DPR) is presently 45.10%.

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

Wall Street Analyst Weigh In

TSCO has been the topic of several research reports. JPMorgan Chase & Co. boosted their price objective on shares of Tractor Supply from $58.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Loop Capital boosted their price target on Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a research report on Thursday, December 12th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $67.00 price objective on shares of Tractor Supply in a research report on Thursday, January 30th. Bank of America boosted their target price on Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a report on Thursday, January 16th. Finally, Truist Financial reduced their price target on Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a report on Friday, January 31st. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Tractor Supply has an average rating of “Moderate Buy” and an average target price of $59.22.

Insider Transactions at Tractor Supply

In other news, SVP Matthew L. Rubin sold 3,850 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $57.69, for a total value of $222,106.50. Following the transaction, the senior vice president now 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, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply 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 transaction, the chief executive officer now directly owns 488,852 shares in the company, valued at approximately $26,686,430.68. The trade was a 15.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,993 shares of company stock worth $7,538,068 in the last 90 days. 0.24% of the stock is currently owned by insiders.

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.