Schechter Investment Advisors LLC Has $458,000 Stock Position in Tractor Supply (NASDAQ:TSCO)

Schechter Investment Advisors LLC increased its position in shares of Tractor Supply (NASDAQ:TSCO) by 435.3% in the fourth quarter, HoldingsChannel reports. The firm owned 8,640 shares of the specialty retailer’s stock after purchasing an additional 7,026 shares during the period. Schechter Investment Advisors LLC’s holdings in Tractor Supply were worth $458,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. PrairieView Partners LLC grew its holdings in Tractor Supply by 400.0% during the 4th quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 400 shares during the last quarter. Future Financial Wealth Managment LLC grew its holdings in Tractor Supply by 400.0% during the 4th 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 during the last quarter. Archer Investment Corp grew its holdings in Tractor Supply by 400.0% during the 4th quarter. Archer Investment Corp now owns 500 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 400 shares during the last quarter. Kentucky Trust Co bought a new stake in Tractor Supply during the 4th quarter worth about $27,000. Finally, First Command Advisory Services Inc. grew its holdings in Tractor Supply by 400.0% during the 4th 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 last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Tractor Supply Stock Performance

Shares of TSCO stock opened at $54.95 on Thursday. 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 company has a market capitalization 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 company’s 50 day moving average price is $55.08 and its two-hundred day moving average price is $55.71. Tractor Supply has a 52 week low of $48.30 and a 52 week high of $61.53.

Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Thursday, January 30th. The specialty retailer reported $0.44 EPS for the quarter, missing the consensus estimate of $2.28 by ($1.84). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. On average, analysts expect that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply announced that its board has initiated a share buyback plan on Thursday, February 13th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the specialty retailer to purchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th will be issued a dividend of $0.92 per share. 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 6.70%. The ex-dividend date of this dividend is Wednesday, February 26th. Tractor Supply’s dividend payout ratio (DPR) is 45.10%.

Insiders Place Their Bets

In other news, EVP Melissa Kersey sold 9,300 shares of Tractor Supply stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $53.17, for a total value of $494,481.00. Following the sale, the executive vice president now directly owns 34,961 shares in the company, valued at $1,858,876.37. This trade represents a 21.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $54.59, for a total transaction of $4,809,106.05. Following the completion of the sale, the chief executive officer now owns 488,852 shares in the company, valued at $26,686,430.68. This trade represents a 15.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 137,993 shares of company stock worth $7,538,068. Company insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on TSCO. Guggenheim reissued a “buy” rating and set a $60.00 price objective on shares of Tractor Supply in a report on Friday, January 31st. Bank of America raised their target price on shares of Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a research note on Thursday, January 16th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $67.00 target price on shares of Tractor Supply in a research note on Thursday, January 30th. JPMorgan Chase & Co. raised their target price on shares of Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Finally, Mizuho raised their target price on shares of Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Two equities 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 given a strong buy rating to the company. According to MarketBeat, Tractor Supply presently has a consensus rating of “Moderate Buy” and an average target price of $59.22.

About Tractor Supply

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.