FineMark National Bank & Trust Has $2.37 Million Stock Holdings in Tractor Supply (NASDAQ:TSCO)

FineMark National Bank & Trust grew its stake in Tractor Supply (NASDAQ:TSCO) by 400.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,585 shares of the specialty retailer’s stock after purchasing an additional 35,682 shares during the quarter. FineMark National Bank & Trust’s holdings in Tractor Supply were worth $2,366,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Tractor Supply by 392.5% in the fourth quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer’s stock valued at $3,397,643,000 after acquiring an additional 51,031,178 shares during the period. Raymond James Financial Inc. acquired a new stake in Tractor Supply in the 4th quarter worth about $329,458,000. Meridiem Investment Management Ltd. boosted its holdings in Tractor Supply by 398.9% in the 4th quarter. Meridiem Investment Management Ltd. now owns 5,118,785 shares of the specialty retailer’s stock valued at $271,674,000 after purchasing an additional 4,092,808 shares during the period. Wellington Management Group LLP grew its position in shares of Tractor Supply by 3.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,740,864 shares of the specialty retailer’s stock worth $1,379,260,000 after purchasing an additional 161,503 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Tractor Supply by 1.1% during the third quarter. State Street Corp now owns 4,518,341 shares of the specialty retailer’s stock worth $1,314,521,000 after purchasing an additional 47,951 shares during the period. Institutional investors and hedge funds own 98.72% of the company’s stock.

Insider Buying and Selling

In other news, EVP Melissa Kersey sold 9,300 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $53.17, for a total value of $494,481.00. Following the completion of the sale, the executive vice president now owns 34,961 shares of the company’s stock, valued at approximately $1,858,876.37. This represents a 21.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply 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 completion of the transaction, the chief executive officer now directly owns 488,852 shares in the company, valued at approximately $26,686,430.68. This represents a 15.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 137,993 shares of company stock valued at $7,538,068 in the last three months. Insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

TSCO has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Mizuho increased their target price on Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Guggenheim restated a “buy” rating and issued a $60.00 price target on shares of Tractor Supply in a research report on Friday, January 31st. Truist Financial cut their price objective on shares of Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $67.00 target price on shares of Tractor Supply in a report on Thursday, January 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $59.22.

Tractor Supply Trading Down 1.3 %

NASDAQ TSCO opened at $52.83 on Wednesday. Tractor Supply has a twelve month low of $48.30 and a twelve month high of $61.53. The business’s fifty day moving average is $55.00 and its 200 day 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. The company has a market cap of $28.21 billion, a price-to-earnings ratio of 25.90, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 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%. As a group, sell-side analysts expect that Tractor Supply will post 2.17 EPS for the current fiscal year.

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

Tractor Supply Increases Dividend

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

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.