Financial Counselors Inc. Boosts Stake in Tractor Supply (NASDAQ:TSCO)

Financial Counselors Inc. increased its position in Tractor Supply (NASDAQ:TSCO) by 357.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,355 shares of the specialty retailer’s stock after purchasing an additional 3,404 shares during the quarter. Financial Counselors Inc.’s holdings in Tractor Supply were worth $231,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in TSCO. Smithfield Trust Co lifted its position in Tractor Supply by 286.2% during the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 352 shares during the period. PrairieView Partners LLC lifted its position 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 acquiring an additional 400 shares during the period. Future Financial Wealth Managment LLC boosted its stake in Tractor Supply by 400.0% during the fourth quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 400 shares in the last quarter. Archer Investment Corp boosted its stake in Tractor Supply by 400.0% during the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 400 shares in the last quarter. Finally, Kentucky Trust Co purchased a new stake in Tractor Supply in the fourth quarter worth about $27,000. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Trading Down 1.3 %

Shares of NASDAQ:TSCO opened at $53.47 on Friday. The stock’s 50-day simple moving average is $55.03 and its two-hundred day simple moving average is $55.65. The stock has a market capitalization 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 52-week low of $48.30 and a 52-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.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data 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 return on equity of 49.01% and a net margin of 7.40%. Analysts expect that Tractor Supply will post 2.17 EPS for the current year.

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

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 given a dividend of $0.92 per share. 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 6.88%. Tractor Supply’s payout ratio is 45.10%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TSCO. Telsey Advisory Group reiterated an “outperform” rating and set a $67.00 target price on shares of Tractor Supply in a report on Thursday, January 30th. Truist Financial dropped their target price on Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Bank of America increased their target price on Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a research note on Thursday, January 16th. Mizuho upped their price target on shares of Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Finally, Barclays cut their price objective on shares of 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. Two equities research 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 stock. Based on data from MarketBeat, Tractor Supply has an average rating of “Moderate Buy” and a consensus price target of $59.22.

Insider Buying and Selling 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, EVP Melissa Kersey sold 9,300 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $53.17, for a total transaction of $494,481.00. Following the completion of the transaction, the executive vice president now owns 34,961 shares of the company’s stock, valued at approximately $1,858,876.37. The trade was a 21.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 137,993 shares of company stock valued at $7,538,068. Company insiders own 0.58% of the company’s stock.

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.