Richwood Investment Advisors LLC Boosts Stock Holdings in Tractor Supply (NASDAQ:TSCO)

Richwood Investment Advisors LLC boosted its stake in shares of Tractor Supply (NASDAQ:TSCO) by 439.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 28,735 shares of the specialty retailer’s stock after acquiring an additional 23,411 shares during the period. Tractor Supply comprises approximately 1.3% of Richwood Investment Advisors LLC’s holdings, making the stock its 17th biggest holding. Richwood Investment Advisors LLC’s holdings in Tractor Supply were worth $1,525,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new position in shares of Tractor Supply in the 4th quarter valued at $329,458,000. Meridiem Investment Management Ltd. raised its stake in shares of 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 acquiring an additional 4,092,808 shares during the period. Amundi raised its stake in shares of Tractor Supply by 495.2% in the 4th quarter. Amundi now owns 4,145,992 shares of the specialty retailer’s stock valued at $225,501,000 after acquiring an additional 3,449,442 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Tractor Supply by 403.3% in the 4th quarter. Bank of New York Mellon Corp now owns 3,912,752 shares of the specialty retailer’s stock valued at $207,611,000 after acquiring an additional 3,135,384 shares during the period. Finally, Alecta Tjanstepension Omsesidigt raised its stake in shares of Tractor Supply by 400.0% in the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 3,750,000 shares of the specialty retailer’s stock valued at $199,012,000 after acquiring an additional 3,000,000 shares during the period. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on TSCO shares. Barclays lowered their price target on shares of Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a report on Monday, December 30th. Truist Financial lowered their price target on shares of Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a report on Friday, January 31st. Wells Fargo & Company lowered their price target on shares of Tractor Supply from $65.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Mizuho raised their price target on shares of Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Finally, Guggenheim reaffirmed a “buy” rating and set a $60.00 price target on shares of Tractor Supply in a report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Tractor Supply currently has an average rating of “Moderate Buy” and a consensus target price of $59.22.

Insider Activity

In related news, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $57.69, for a total value of $222,106.50. Following the sale, the senior vice president now directly owns 31,787 shares in the company, valued at $1,833,792.03. This trade represents a 10.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply stock in a transaction dated 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 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. In the last three months, insiders sold 137,993 shares of company stock valued at $7,538,068. Company insiders own 0.24% of the company’s stock.

Tractor Supply Trading Up 1.2 %

NASDAQ TSCO opened at $52.46 on Friday. Tractor Supply has a one year low of $48.30 and a one year high of $61.53. The company has a 50-day simple moving average of $55.03 and a 200-day simple moving average of $55.68. 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 firm has a market capitalization of $28.01 billion, a PE ratio of 25.72, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly 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 net margin of 7.40% and a return on equity of 49.01%. On average, equities analysts forecast that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were issued a $0.92 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 annualized dividend and a dividend yield of 7.01%. Tractor Supply’s payout ratio is 45.10%.

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

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.