Steward Partners Investment Advisory LLC Acquires 112,930 Shares of Tractor Supply (NASDAQ:TSCO)

Steward Partners Investment Advisory LLC increased its holdings in Tractor Supply (NASDAQ:TSCO) by 401.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 141,084 shares of the specialty retailer’s stock after buying an additional 112,930 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Tractor Supply were worth $7,486,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Baldwin Investment Management LLC lifted its position in shares of Tractor Supply by 0.3% during the 3rd quarter. Baldwin Investment Management LLC now owns 11,402 shares of the specialty retailer’s stock valued at $3,317,000 after buying an additional 38 shares in the last quarter. Huntington National Bank raised its stake in Tractor Supply by 0.7% during the 3rd quarter. Huntington National Bank now owns 5,538 shares of the specialty retailer’s stock worth $1,611,000 after acquiring an additional 41 shares during the period. First Horizon Advisors Inc. lifted its holdings in Tractor Supply by 13.2% during the third quarter. First Horizon Advisors Inc. now owns 351 shares of the specialty retailer’s stock valued at $102,000 after purchasing an additional 41 shares in the last quarter. Harbour Investments Inc. boosted its position in shares of Tractor Supply by 4.6% in the third quarter. Harbour Investments Inc. now owns 958 shares of the specialty retailer’s stock worth $279,000 after purchasing an additional 42 shares during the period. Finally, Cynosure Group LLC increased its stake in shares of Tractor Supply by 2.8% in the third quarter. Cynosure Group LLC now owns 1,529 shares of the specialty retailer’s stock worth $445,000 after purchasing an additional 42 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Telsey Advisory Group restated an “outperform” rating and set a $67.00 target price on shares of Tractor Supply in a research note on Thursday, January 30th. Mizuho upped their price objective on Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Evercore ISI upgraded Tractor Supply from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 15th. Wells Fargo & Company lowered their price target on Tractor Supply from $65.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Finally, Guggenheim reaffirmed a “buy” rating and set a $60.00 price objective on shares of Tractor Supply in a 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 assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $59.22.

Insider Buying and Selling

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $57.69, for a total value of $222,106.50. Following the transaction, the senior vice president now owns 31,787 shares of the company’s stock, valued at $1,833,792.03. This represents a 10.80 % decrease in their position. The sale was disclosed in a legal filing 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 on 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 sale, the chief executive officer now owns 488,852 shares in the company, valued at approximately $26,686,430.68. The trade was a 15.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 137,993 shares of company stock valued at $7,538,068 in the last ninety days. 0.24% of the stock is owned by company insiders.

Tractor Supply Price Performance

NASDAQ:TSCO opened at $54.95 on Thursday. The firm has a market capitalization of $29.34 billion, a price-to-earnings ratio of 26.94, a PEG ratio of 2.95 and a beta of 0.85. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. The business has a 50 day simple moving average of $55.08 and a 200-day simple moving average of $55.71. Tractor Supply has a 1 year low of $48.30 and a 1 year high of $61.53.

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

Tractor Supply Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th will be issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 6.70%. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Wednesday, February 26th. Tractor Supply’s dividend payout ratio is presently 45.10%.

Tractor Supply declared that its board has approved a stock buyback program on Thursday, February 13th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the specialty retailer to reacquire up to 3.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

About Tractor Supply

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.