Smartleaf Asset Management LLC Boosts Stock Holdings in Tractor Supply (NASDAQ:TSCO)

Smartleaf Asset Management LLC grew its position in Tractor Supply (NASDAQ:TSCO) by 414.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,772 shares of the specialty retailer’s stock after purchasing an additional 7,871 shares during the period. Smartleaf Asset Management LLC’s holdings in Tractor Supply were worth $514,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in TSCO. PrairieView Partners LLC increased its stake in Tractor Supply by 400.0% in the 4th quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 400 shares during the last quarter. Future Financial Wealth Managment LLC grew its holdings in shares of Tractor Supply by 400.0% in the fourth quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 400 shares in the last quarter. Archer Investment Corp increased its position in shares of Tractor Supply by 400.0% during the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 400 shares during the last quarter. Kentucky Trust Co purchased a new stake in shares of Tractor Supply during the fourth quarter valued at approximately $27,000. Finally, First Command Advisory Services Inc. lifted its holdings in Tractor Supply by 400.0% during the fourth quarter. First Command Advisory Services Inc. now owns 500 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 400 shares during the period. 98.72% of the stock is owned by institutional investors.

Tractor Supply Stock Performance

Tractor Supply stock opened at $54.95 on Thursday. Tractor Supply has a fifty-two week low of $48.30 and a fifty-two week high of $61.53. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. The stock has a market cap of $29.34 billion, a P/E ratio of 26.94, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. The firm’s fifty day moving average price is $55.08 and its 200-day moving average price is $55.71.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share 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%. On average, equities research analysts expect that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

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

Tractor Supply Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th will be paid a $0.92 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $3.68 annualized dividend and a yield of 6.70%. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio is currently 45.10%.

Insider Buying and Selling at Tractor Supply

In related news, SVP Matthew L. Rubin sold 3,850 shares of the stock in a transaction dated 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 in the company, valued at $1,833,792.03. This represents a 10.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Harry A. Lawton III sold 88,095 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now 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 over the last ninety days. Insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on TSCO shares. Loop Capital lifted their target price 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 reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Tractor Supply in a research report on Friday, January 31st. Bank of America increased their target price 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. Wells Fargo & Company lowered their price target on shares of Tractor Supply from $65.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Finally, Barclays reduced their price objective on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a report on Monday, December 30th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $59.22.

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.