Tractor Supply (NASDAQ:TSCO) Stock Position Raised by Family Legacy Inc.

Family Legacy Inc. lifted its position in Tractor Supply (NASDAQ:TSCO) by 478.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,876 shares of the specialty retailer’s stock after buying an additional 13,960 shares during the quarter. Family Legacy Inc.’s holdings in Tractor Supply were worth $918,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TSCO. Bank of America lifted their target price on Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a research report on Thursday, January 16th. Telsey Advisory Group reissued an “outperform” rating and set a $67.00 price objective on shares of Tractor Supply in a report on Thursday, January 30th. Truist Financial lowered their price target on shares of 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. increased their price objective on shares of Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Finally, Guggenheim reiterated a “buy” rating and set a $60.00 target price on shares of Tractor Supply in a research report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $59.22.

Tractor Supply Price Performance

Shares of TSCO stock opened at $53.47 on Monday. The firm has a market cap of $28.55 billion, a price-to-earnings ratio of 26.21, a PEG ratio of 2.95 and a beta of 0.85. Tractor Supply has a 12 month low of $48.30 and a 12 month high of $61.53. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. The stock has a 50-day moving average price of $55.03 and a 200 day moving average price of $55.66.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 EPS for the quarter, missing the consensus estimate of $2.28 by ($1.84). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. Research analysts expect that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were given a dividend of $0.92 per share. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 annualized dividend and a dividend yield of 6.88%. Tractor Supply’s payout ratio is presently 45.10%.

Tractor Supply declared that its board 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 purchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

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 stock was sold at an average price of $54.59, for a total value of $4,809,106.05. Following the completion of the sale, the chief executive officer now directly owns 488,852 shares of the company’s stock, valued at $26,686,430.68. This represents a 15.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $57.69, for a total transaction of $222,106.50. Following the transaction, the senior vice president now directly owns 31,787 shares in the company, 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 a total of 137,993 shares of company stock valued at $7,538,068 in the last 90 days. 0.24% of the stock is owned by company 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.