Tractor Supply (NASDAQ:TSCO) Shares Acquired by McCollum Christoferson Group LLC

McCollum Christoferson Group LLC raised its position in Tractor Supply (NASDAQ:TSCO) by 399.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 124,455 shares of the specialty retailer’s stock after buying an additional 99,529 shares during the period. Tractor Supply accounts for about 2.0% of McCollum Christoferson Group LLC’s holdings, making the stock its 24th largest holding. McCollum Christoferson Group LLC’s holdings in Tractor Supply were worth $6,604,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Providence Capital Advisors LLC purchased a new stake in shares of Tractor Supply in the third quarter valued at $32,000. Larson Financial Group LLC grew its holdings in Tractor Supply by 29.4% in the 3rd quarter. Larson Financial Group LLC now owns 286 shares of the specialty retailer’s stock valued at $83,000 after buying an additional 65 shares during the period. First Horizon Advisors Inc. increased its stake in shares of Tractor Supply by 13.2% during the 3rd quarter. First Horizon Advisors Inc. now owns 351 shares of the specialty retailer’s stock valued at $102,000 after acquiring an additional 41 shares during the last quarter. Icon Wealth Advisors LLC purchased a new position in shares of Tractor Supply during the 3rd quarter worth about $111,000. Finally, Glen Eagle Advisors LLC boosted its position in shares of Tractor Supply by 75.8% in the third quarter. Glen Eagle Advisors LLC now owns 464 shares of the specialty retailer’s stock worth $135,000 after acquiring an additional 200 shares during the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on TSCO. Loop Capital increased their price target on shares of Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a research note on Thursday, December 12th. Telsey Advisory Group reiterated an “outperform” rating and issued a $67.00 target price on shares of Tractor Supply in a report on Thursday, January 30th. Truist Financial lowered their price target on Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Mizuho raised their price objective on Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Finally, Guggenheim reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Tractor Supply in a research note on Friday, January 31st. Two research 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 MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $59.22.

Insiders Place Their Bets

In related 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 completion of the transaction, the chief executive officer now directly owns 488,852 shares in the company, valued at approximately $26,686,430.68. This trade represents a 15.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kurt D. Barton sold 12,146 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $56.00, for a total value of $680,176.00. Following the sale, the chief financial officer now owns 47,715 shares in the company, valued at $2,672,040. The trade was a 20.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 137,993 shares of company stock valued at $7,538,068 in the last ninety days. Corporate insiders own 0.24% of the company’s stock.

Tractor Supply Stock Up 1.2 %

Shares of Tractor Supply stock opened at $52.46 on Monday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. Tractor Supply has a 1-year low of $48.30 and a 1-year high of $61.53. The business has a 50-day moving average of $55.03 and a 200-day moving average of $55.69. The company has a market capitalization of $28.01 billion, a PE ratio of 25.72, a P/E/G ratio of 2.95 and a beta of 0.85.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share 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%. As a group, equities analysts forecast that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were issued a $0.92 dividend. 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 yield of 7.01%. Tractor Supply’s dividend payout ratio is currently 45.10%.

Tractor Supply announced that its board has authorized a stock repurchase 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 typically an indication that the company’s board of directors believes its shares are undervalued.

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.