Trust Investment Advisors Has $1.62 Million Position in Tractor Supply (NASDAQ:TSCO)

Trust Investment Advisors boosted its position in Tractor Supply (NASDAQ:TSCO) by 372.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,545 shares of the specialty retailer’s stock after buying an additional 24,084 shares during the quarter. Tractor Supply makes up about 1.0% of Trust Investment Advisors’ portfolio, making the stock its 27th biggest position. Trust Investment Advisors’ holdings in Tractor Supply were worth $1,621,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings 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 purchasing an additional 51,031,178 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Tractor Supply in the 4th quarter valued at $329,458,000. Meridiem Investment Management Ltd. lifted its position in Tractor Supply by 398.9% during the 4th quarter. Meridiem Investment Management Ltd. now owns 5,118,785 shares of the specialty retailer’s stock worth $271,674,000 after buying an additional 4,092,808 shares in the last quarter. Amundi boosted its stake in shares of Tractor Supply by 495.2% during the 4th quarter. Amundi now owns 4,145,992 shares of the specialty retailer’s stock worth $225,501,000 after buying an additional 3,449,442 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Tractor Supply by 403.3% in the fourth 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 last quarter. Institutional investors own 98.72% of the company’s stock.

Insider Transactions at Tractor Supply

In other Tractor Supply news, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $54.59, for a total transaction of $4,809,106.05. Following the transaction, the chief executive officer now directly owns 488,852 shares of the company’s stock, valued at approximately $26,686,430.68. The trade was a 15.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Colin Yankee sold 24,602 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $54.15, for a total value of $1,332,198.30. Following the completion of the sale, the executive vice president now owns 33,645 shares in the company, valued at $1,821,876.75. The trade was a 42.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 137,993 shares of company stock worth $7,538,068. Corporate insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Guggenheim reissued a “buy” rating and set a $60.00 price target on shares of Tractor Supply in a research 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. Loop Capital increased their price target on shares of Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, December 12th. Telsey Advisory Group restated an “outperform” rating and set a $67.00 price objective on shares of Tractor Supply in a research note on Thursday, January 30th. Finally, Truist Financial cut their target price on shares of Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, January 31st. 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, Tractor Supply has an average rating of “Moderate Buy” and an average price target of $59.22.

Tractor Supply Stock Performance

Shares of NASDAQ:TSCO opened at $52.83 on Wednesday. Tractor Supply has a 12-month low of $48.30 and a 12-month high of $61.53. The company’s 50 day moving average price is $55.00 and its two-hundred day moving average price is $55.67. The firm has a market cap of $28.21 billion, a PE ratio of 25.90, a PEG ratio of 2.95 and a beta of 0.85. 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 announced its quarterly earnings data 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 research analysts predict that Tractor Supply will post 2.17 earnings per share for the current year.

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

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 6.97%. The ex-dividend date of this dividend was Wednesday, February 26th. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s 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.