Farther Finance Advisors LLC Acquires 16,583 Shares of Tractor Supply (NASDAQ:TSCO)

Farther Finance Advisors LLC lifted its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 351.6% in the 4th quarter, HoldingsChannel reports. The fund owned 21,300 shares of the specialty retailer’s stock after purchasing an additional 16,583 shares during the period. Farther Finance Advisors LLC’s holdings in Tractor Supply were worth $1,130,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Providence Capital Advisors LLC bought a new stake in shares of Tractor Supply during the third quarter worth about $32,000. Assetmark Inc. increased its position in shares of Tractor Supply by 2,383.3% during the third quarter. Assetmark Inc. now owns 149 shares of the specialty retailer’s stock worth $43,000 after acquiring an additional 143 shares in the last quarter. Larson Financial Group LLC increased its position in shares of Tractor Supply by 29.4% during the third quarter. Larson Financial Group LLC now owns 286 shares of the specialty retailer’s stock worth $83,000 after acquiring an additional 65 shares in the last quarter. First Horizon Advisors Inc. increased its position in shares of Tractor Supply by 13.2% during the third quarter. First Horizon Advisors Inc. now owns 351 shares of the specialty retailer’s stock worth $102,000 after acquiring an additional 41 shares in the last quarter. Finally, Icon Wealth Advisors LLC bought a new stake in Tractor Supply in the 3rd quarter worth about $111,000. 98.72% of the stock is owned by institutional investors.

Tractor Supply Stock Performance

Shares of TSCO stock opened at $51.83 on Friday. The stock has a market capitalization of $27.68 billion, a P/E ratio of 25.41, a PEG ratio of 2.95 and a beta of 0.85. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. The firm’s 50 day moving average is $55.19 and its 200 day moving average is $55.72. Tractor Supply has a 12 month low of $48.30 and a 12 month high of $61.53.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 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%. On average, sell-side analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were paid a $0.92 dividend. The ex-dividend date was Wednesday, February 26th. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 annualized dividend and a yield of 7.10%. Tractor Supply’s dividend payout ratio is currently 45.10%.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Mizuho upped their price objective on shares of Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Evercore ISI raised shares of Tractor Supply from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 15th. Barclays reduced their price objective on shares of Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a research report on Monday, December 30th. Bank of America upped their price objective on shares of Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a research report on Thursday, January 16th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Tractor Supply in a research report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Tractor Supply presently has an average rating of “Moderate Buy” and an average price target of $59.22.

Insiders Place Their Bets

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of the stock in a transaction that occurred on 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 represents a 10.80 % decrease in their position. The transaction 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 the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 488,852 shares in the company, valued at $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. Insiders have sold 137,993 shares of company stock worth $7,538,068 in the last three months. 0.24% of the stock is currently owned by corporate insiders.

Tractor Supply Company 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.