Tractor Supply (NASDAQ:TSCO) Stake Lifted by Boston Research & Management Inc.

Boston Research & Management Inc. grew its holdings in Tractor Supply (NASDAQ:TSCO) by 388.9% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 179,100 shares of the specialty retailer’s stock after buying an additional 142,463 shares during the period. Tractor Supply accounts for approximately 2.3% of Boston Research & Management Inc.’s portfolio, making the stock its 7th largest position. Boston Research & Management Inc.’s holdings in Tractor Supply were worth $9,503,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TSCO. Pine Valley Investments Ltd Liability Co grew its stake in shares of Tractor Supply by 7.1% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 978 shares of the specialty retailer’s stock valued at $285,000 after purchasing an additional 65 shares during the last quarter. Synergy Financial Group LTD grew its position in Tractor Supply by 12.4% in the 3rd quarter. Synergy Financial Group LTD now owns 1,090 shares of the specialty retailer’s stock valued at $317,000 after buying an additional 120 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in Tractor Supply by 0.5% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 27,710 shares of the specialty retailer’s stock valued at $8,058,000 after buying an additional 141 shares during the period. Glen Eagle Advisors LLC raised its position in Tractor Supply by 75.8% during the 3rd quarter. Glen Eagle Advisors LLC now owns 464 shares of the specialty retailer’s stock worth $135,000 after buying an additional 200 shares during the last quarter. Finally, Motley Fool Asset Management LLC lifted its stake in shares of Tractor Supply by 1.7% in the 3rd quarter. Motley Fool Asset Management LLC now owns 15,855 shares of the specialty retailer’s stock worth $4,679,000 after acquiring an additional 266 shares during the period. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Stock Down 1.3 %

TSCO stock opened at $53.47 on Monday. The company has a 50 day moving average price of $55.03 and a two-hundred day moving average price of $55.66. 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 stock has a market capitalization of $28.55 billion, a P/E ratio of 26.21, a PEG ratio of 2.95 and a beta of 0.85. Tractor Supply has a one year low of $48.30 and a one year high of $61.53.

Tractor Supply (NASDAQ:TSCO) last released its 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%. As a group, 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 stock repurchase plan on Thursday, February 13th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the specialty retailer to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Tractor Supply Increases Dividend

The business also recently declared 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. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a yield of 6.88%. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio (DPR) is currently 45.10%.

Insider Buying and Selling at Tractor Supply

In other 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 value 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 $26,686,430.68. The trade was a 15.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Colin Yankee sold 24,602 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $54.15, for a total transaction 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 approximately $1,821,876.75. This trade represents a 42.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 137,993 shares of company stock worth $7,538,068 in the last quarter. 0.24% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Truist Financial cut 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. Loop Capital lifted their price target on Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, December 12th. Barclays reduced their target price on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a report on Monday, December 30th. JPMorgan Chase & Co. upped their price target on shares of Tractor Supply from $58.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Finally, Mizuho raised their price objective on shares of Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.