SouthState Corp Acquires 1,106 Shares of Tractor Supply (NASDAQ:TSCO)

SouthState Corp raised its holdings in Tractor Supply (NASDAQ:TSCO) by 45.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,533 shares of the specialty retailer’s stock after buying an additional 1,106 shares during the period. SouthState Corp’s holdings in Tractor Supply were worth $1,028,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Henrickson Nauta Wealth Advisors Inc. grew its holdings in Tractor Supply by 3.2% during the third quarter. Henrickson Nauta Wealth Advisors Inc. now owns 1,127 shares of the specialty retailer’s stock worth $328,000 after buying an additional 35 shares in the last quarter. Private Advisor Group LLC grew its stake in shares of Tractor Supply by 0.5% in the 3rd quarter. Private Advisor Group LLC now owns 7,693 shares of the specialty retailer’s stock worth $2,238,000 after acquiring an additional 37 shares in the last quarter. Signature Wealth Management Group grew its stake in shares of Tractor Supply by 0.5% in the 2nd quarter. Signature Wealth Management Group now owns 6,999 shares of the specialty retailer’s stock worth $1,890,000 after acquiring an additional 38 shares in the last quarter. X Square Capital LLC lifted its position in shares of Tractor Supply by 1.6% during the second quarter. X Square Capital LLC now owns 2,579 shares of the specialty retailer’s stock valued at $696,000 after purchasing an additional 41 shares in the last quarter. Finally, TCI Wealth Advisors Inc. boosted its holdings in Tractor Supply by 5.1% during the third quarter. TCI Wealth Advisors Inc. now owns 846 shares of the specialty retailer’s stock worth $246,000 after purchasing an additional 41 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Kurt D. Barton sold 23,532 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 9,683 shares in the company, valued at $2,862,682.12. The trade was a 70.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.58% of the company’s stock.

Wall Street Analyst Weigh In

TSCO has been the subject of several analyst reports. Mizuho increased their price objective on shares of Tractor Supply from $250.00 to $270.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Benchmark increased their price target on Tractor Supply from $280.00 to $310.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Wedbush reissued a “neutral” rating and issued a $270.00 price objective on shares of Tractor Supply in a research report on Friday, October 25th. Robert W. Baird set a $320.00 target price on Tractor Supply in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Tractor Supply from $260.00 to $290.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $282.82.

Tractor Supply Stock Down 1.4 %

TSCO stock opened at $272.85 on Wednesday. Tractor Supply has a twelve month low of $193.73 and a twelve month high of $307.64. The firm has a market capitalization of $29.15 billion, a PE ratio of 26.54, a PEG ratio of 3.46 and a beta of 0.82. The company has a quick ratio of 0.17, a current ratio of 1.48 and a debt-to-equity ratio of 0.81. The stock has a 50-day simple moving average of $284.45 and a two-hundred day simple moving average of $275.44.

Tractor Supply Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Monday, November 25th. Tractor Supply’s dividend payout ratio (DPR) is presently 42.80%.

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.