Sheets Smith Wealth Management Boosts Stock Holdings in Tractor Supply (NASDAQ:TSCO)

Sheets Smith Wealth Management increased its stake in Tractor Supply (NASDAQ:TSCO) by 0.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,830 shares of the specialty retailer’s stock after buying an additional 100 shares during the period. Tractor Supply accounts for about 1.8% of Sheets Smith Wealth Management’s portfolio, making the stock its 9th largest position. Sheets Smith Wealth Management’s holdings in Tractor Supply were worth $14,497,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. LRI Investments LLC bought a new stake in shares of Tractor Supply during the first quarter valued at approximately $28,000. J.Safra Asset Management Corp increased its holdings in Tractor Supply by 700.0% during the 1st quarter. J.Safra Asset Management Corp now owns 112 shares of the specialty retailer’s stock worth $29,000 after purchasing an additional 98 shares during the period. Future Financial Wealth Managment LLC bought a new stake in Tractor Supply during the 3rd quarter valued at $29,000. First Personal Financial Services purchased a new stake in shares of Tractor Supply in the 3rd quarter worth $29,000. Finally, Whittier Trust Co. grew its position in shares of Tractor Supply by 60.9% during the 2nd quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock worth $30,000 after buying an additional 42 shares in the last quarter. Institutional investors own 98.72% of the company’s stock.

Tractor Supply Price Performance

NASDAQ TSCO opened at $288.56 on Friday. The company has a market cap of $31.13 billion, a price-to-earnings ratio of 28.07, a PEG ratio of 3.62 and a beta of 0.82. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.48 and a quick ratio of 0.17. The stock’s fifty day moving average price is $283.49 and its 200 day moving average price is $275.01. Tractor Supply has a 1 year low of $193.60 and a 1 year high of $307.64.

Tractor Supply Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend is Monday, November 25th. Tractor Supply’s dividend payout ratio is presently 42.80%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on TSCO shares. Gordon Haskett downgraded Tractor Supply from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, October 24th. Citigroup lowered shares of Tractor Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. Robert W. Baird set a $320.00 price target on shares of Tractor Supply in a research report on Thursday, October 17th. Melius Research started coverage on shares of Tractor Supply in a report on Monday, September 23rd. They set a “buy” rating and a $315.00 price objective on the stock. Finally, DA Davidson upped their target price on Tractor Supply from $300.00 to $325.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $282.82.

Insider Transactions at Tractor Supply

In related news, CFO Kurt D. Barton sold 23,532 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total value of $6,957,000.48. Following the sale, the chief financial officer now owns 9,683 shares in the company, valued at $2,862,682.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Kurt D. Barton sold 23,532 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Matthew L. Rubin sold 540 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $262.35, for a total transaction of $141,669.00. Following the completion of the sale, the senior vice president now directly owns 5,170 shares in the company, valued at approximately $1,356,349.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

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.