Corient Private Wealth LLC Purchases 694,912 Shares of Tractor Supply (NASDAQ:TSCO)

Corient Private Wealth LLC raised its position in Tractor Supply (NASDAQ:TSCO) by 405.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 866,509 shares of the specialty retailer’s stock after acquiring an additional 694,912 shares during the period. Corient Private Wealth LLC owned approximately 0.16% of Tractor Supply worth $45,977,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Smithfield Trust Co lifted its stake in shares of Tractor Supply by 286.2% in the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 352 shares in the last quarter. PrairieView Partners LLC lifted its position in Tractor Supply by 400.0% in the 4th quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 400 shares in the last quarter. Future Financial Wealth Managment LLC boosted its stake 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 valued at $27,000 after purchasing an additional 400 shares during the last quarter. Archer Investment Corp increased 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 purchasing an additional 400 shares in the last quarter. Finally, Kentucky Trust Co bought a new stake in Tractor Supply during the 4th quarter worth approximately $27,000. Institutional investors and hedge funds own 98.72% of the company’s stock.

Insider Transactions at Tractor Supply

In other news, EVP Melissa Kersey sold 9,300 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 34,961 shares of the company’s stock, valued at approximately $1,858,876.37. This represents a 21.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Colin Yankee sold 24,602 shares of Tractor Supply stock in a transaction 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 sale, the executive vice president now directly owns 33,645 shares of the company’s stock, valued at $1,821,876.75. This represents a 42.24 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 137,993 shares of company stock valued at $7,538,068. 0.24% of the stock is currently owned by corporate insiders.

Tractor Supply Stock Up 2.5 %

TSCO opened at $53.13 on Tuesday. Tractor Supply has a 12 month low of $48.30 and a 12 month high of $61.53. The company has a market cap of $28.37 billion, a PE ratio of 26.04, a price-to-earnings-growth 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 company has a 50 day moving average of $55.18 and a 200 day moving average of $55.73.

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 analysts’ consensus estimates 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, sell-side analysts expect that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply announced that its Board of Directors has initiated a share buyback plan on Thursday, February 13th that allows the company to buyback $1.00 billion in 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 generally an indication that the company’s management believes its stock is undervalued.

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were given a dividend of $0.92 per share. 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. This represents a $3.68 annualized dividend and a dividend yield of 6.93%. Tractor Supply’s dividend payout ratio is currently 45.10%.

Wall Street Analysts Forecast Growth

TSCO has been the topic of several analyst reports. Telsey Advisory Group reaffirmed an “outperform” rating and set a $67.00 target price on shares of Tractor Supply in a research report on Thursday, January 30th. Barclays reduced their target price on shares of Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a research note on Monday, December 30th. Bank of America raised their price target on shares of Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a research report on Thursday, January 16th. Wells Fargo & Company reduced their price objective on shares of Tractor Supply from $65.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Tractor Supply from $58.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $59.22.

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.