Hazlett Burt & Watson Inc. Boosts Stock Position in Tractor Supply (NASDAQ:TSCO)

Hazlett Burt & Watson Inc. raised its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 401.4% in the fourth quarter, HoldingsChannel reports. The firm owned 712 shares of the specialty retailer’s stock after buying an additional 570 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in Tractor Supply were worth $38,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Smithfield Trust Co lifted its stake in Tractor Supply by 286.2% in 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 raised its holdings in Tractor Supply by 400.0% in the 4th quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 400 shares in the last quarter. Future Financial Wealth Managment LLC raised its holdings 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 in the last quarter. Archer Investment Corp lifted its position in shares of Tractor Supply by 400.0% in 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 stake in shares of Tractor Supply during the 4th quarter valued at about $27,000. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Trading Up 3.0 %

Tractor Supply stock opened at $55.10 on Tuesday. Tractor Supply has a 52-week low of $48.30 and a 52-week high of $61.53. The company has a market cap of $29.42 billion, a P/E ratio of 27.01, a P/E/G ratio of 2.95 and a beta of 0.85. 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 business has a 50-day simple moving average of $55.06 and a two-hundred day simple moving average of $55.65.

Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share (EPS) 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%. Analysts predict that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were issued a $0.92 dividend. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 dividend on an annualized basis and a yield of 6.68%. The ex-dividend date was Wednesday, February 26th. Tractor Supply’s dividend payout ratio (DPR) is currently 45.10%.

Tractor Supply announced that its Board of Directors has initiated a share buyback program on Thursday, February 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the specialty retailer to buy up to 3.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on TSCO shares. 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. Loop Capital upped their price target on Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a research note on Thursday, December 12th. Guggenheim reissued a “buy” rating and set a $60.00 price objective on shares of Tractor Supply in a research report on Friday, January 31st. Truist Financial reduced their target price on shares of Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Finally, Bank of America lifted their price target on shares of Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a research report on Thursday, January 16th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $59.22.

Insider Activity at Tractor Supply

In other Tractor Supply news, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $54.59, for a total transaction of $4,809,106.05. Following the transaction, the chief executive officer now owns 488,852 shares of the company’s stock, valued at $26,686,430.68. The trade was a 15.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Matthew L. Rubin sold 3,850 shares of the stock in a transaction 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 completion of the sale, the senior vice president now directly owns 31,787 shares of the company’s stock, valued at approximately $1,833,792.03. This trade represents a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,993 shares of company stock worth $7,538,068. Corporate insiders own 0.24% of the company’s stock.

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.