Meridian Wealth Management LLC Takes $558,000 Position in Tractor Supply (NASDAQ:TSCO)

Meridian Wealth Management LLC purchased a new position in Tractor Supply (NASDAQ:TSCO) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,918 shares of the specialty retailer’s stock, valued at approximately $558,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its stake in Tractor Supply by 10.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,123,280 shares of the specialty retailer’s stock worth $303,278,000 after acquiring an additional 110,342 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Tractor Supply by 3.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 830,193 shares of the specialty retailer’s stock worth $241,528,000 after acquiring an additional 29,730 shares during the period. Provident Trust Co. lifted its stake in Tractor Supply by 1.7% in the third quarter. Provident Trust Co. now owns 679,701 shares of the specialty retailer’s stock worth $197,745,000 after acquiring an additional 11,139 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Tractor Supply by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 631,406 shares of the specialty retailer’s stock worth $183,695,000 after acquiring an additional 8,142 shares during the period. Finally, King Luther Capital Management Corp lifted its stake in Tractor Supply by 0.4% in the third quarter. King Luther Capital Management Corp now owns 454,290 shares of the specialty retailer’s stock worth $132,166,000 after acquiring an additional 2,018 shares during the period. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Stock Up 3.0 %

Shares of TSCO opened at $281.71 on Monday. The business’s 50 day moving average is $284.18 and its 200 day moving average is $275.57. The company has a market capitalization of $30.10 billion, a PE ratio of 27.40, a price-to-earnings-growth ratio of 3.53 and a beta of 0.82. Tractor Supply has a 12-month low of $197.00 and a 12-month high of $307.64. The company has a current ratio of 1.48, a quick ratio of 0.17 and a debt-to-equity ratio of 0.81.

Tractor Supply Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.56%. The ex-dividend date is Monday, November 25th. Tractor Supply’s dividend payout ratio (DPR) is presently 42.80%.

Insider Activity at Tractor Supply

In related news, CFO Kurt D. Barton sold 23,532 shares of Tractor Supply stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total transaction of $6,957,000.48. Following the sale, the chief financial officer now owns 9,683 shares of the company’s stock, valued at approximately $2,862,682.12. This trade represents a 70.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.58% of the stock is owned by corporate insiders.

Analyst Ratings Changes

TSCO has been the subject of a number of research reports. Citigroup downgraded Tractor Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. Gordon Haskett downgraded Tractor Supply from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, October 24th. Loop Capital increased their price objective on Tractor Supply from $250.00 to $260.00 and gave the stock a “hold” rating in a report on Friday, September 6th. UBS Group increased their price objective on Tractor Supply from $272.00 to $280.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Finally, Raymond James increased their price objective on Tractor Supply from $285.00 to $290.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $282.82.

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.