7,411 Shares in Tractor Supply (NASDAQ:TSCO) Purchased by Morey & Quinn Wealth Partners LLC

Morey & Quinn Wealth Partners LLC acquired a new stake in shares of Tractor Supply (NASDAQ:TSCO) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 7,411 shares of the specialty retailer’s stock, valued at approximately $393,000.

Several other institutional investors have also added to or reduced their stakes in TSCO. Trust Investment Advisors lifted its stake in shares of Tractor Supply by 372.8% during the 4th quarter. Trust Investment Advisors now owns 30,545 shares of the specialty retailer’s stock valued at $1,621,000 after buying an additional 24,084 shares in the last quarter. Wambolt & Associates LLC boosted its stake in Tractor Supply by 400.4% in the 4th quarter. Wambolt & Associates LLC now owns 5,890 shares of the specialty retailer’s stock worth $313,000 after purchasing an additional 4,713 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its stake in Tractor Supply by 388.8% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 314,545 shares of the specialty retailer’s stock valued at $16,690,000 after acquiring an additional 250,197 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of Tractor Supply by 408.9% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 17,060 shares of the specialty retailer’s stock worth $905,000 after purchasing an additional 13,708 shares during the period. Finally, Signature Estate & Investment Advisors LLC raised its holdings in shares of Tractor Supply by 403.3% in the 4th quarter. Signature Estate & Investment Advisors LLC now owns 4,640 shares of the specialty retailer’s stock valued at $246,000 after acquiring an additional 3,718 shares in the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TSCO. Truist Financial dropped their target price on Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $67.00 price objective on shares of Tractor Supply in a research note on Thursday, January 30th. Loop Capital increased their target price on shares of Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a report on Thursday, December 12th. Mizuho boosted 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, Guggenheim reaffirmed a “buy” rating and set a $60.00 price objective on shares of Tractor Supply in a research note on Friday, January 31st. Two research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Tractor Supply currently has a consensus rating of “Moderate Buy” and an average target price of $59.22.

Tractor Supply Price Performance

Shares of NASDAQ TSCO opened at $52.83 on Wednesday. Tractor Supply has a fifty-two week low of $48.30 and a fifty-two week high of $61.53. The stock has a market cap of $28.21 billion, a P/E ratio of 25.90, a P/E/G ratio of 2.95 and a beta of 0.85. The firm’s 50-day simple moving average is $55.00 and its 200 day simple moving average is $55.67. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82.

Tractor Supply (NASDAQ:TSCO) last released its 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%. Equities analysts expect that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were paid a $0.92 dividend. The ex-dividend date was Wednesday, February 26th. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 dividend on an annualized basis and a dividend yield of 6.97%. Tractor Supply’s payout ratio is presently 45.10%.

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

Insider Buying and Selling

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $57.69, for a total transaction of $222,106.50. Following 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 represents a 10.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Melissa Kersey sold 9,300 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $53.17, for a total value of $494,481.00. Following the completion of the transaction, the executive vice president now owns 34,961 shares in the company, valued at approximately $1,858,876.37. This represents a 21.01 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 137,993 shares of company stock valued at $7,538,068. Insiders own 0.58% of the company’s stock.

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.