Tractor Supply (NASDAQ:TSCO) Shares Purchased by Hilton Capital Management LLC

Hilton Capital Management LLC increased its position in shares of Tractor Supply (NASDAQ:TSCO) by 341.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 167,146 shares of the specialty retailer’s stock after purchasing an additional 129,317 shares during the quarter. Hilton Capital Management LLC’s holdings in Tractor Supply were worth $8,869,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TSCO. Assetmark Inc. raised its holdings in Tractor Supply by 2,383.3% during the third quarter. Assetmark Inc. now owns 149 shares of the specialty retailer’s stock worth $43,000 after purchasing an additional 143 shares during the last quarter. Nations Financial Group Inc. IA ADV purchased a new position in Tractor Supply during the third quarter worth $244,000. Apollon Wealth Management LLC increased its position in Tractor Supply by 3.1% during the third quarter. Apollon Wealth Management LLC now owns 5,747 shares of the specialty retailer’s stock worth $1,672,000 after buying an additional 171 shares in the last quarter. Harbour Investments Inc. increased its position in Tractor Supply by 4.6% during the third quarter. Harbour Investments Inc. now owns 958 shares of the specialty retailer’s stock worth $279,000 after buying an additional 42 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in Tractor Supply during the third quarter worth $474,000. 98.72% of the stock is owned by institutional investors and hedge funds.

Tractor Supply Trading Down 1.3 %

Shares of TSCO opened at $51.66 on Friday. The stock’s 50-day moving average is $55.21 and its two-hundred day moving average is $55.77. The stock has a market cap of $27.59 billion, a PE ratio of 25.32, a P/E/G ratio of 2.95 and a beta of 0.85. Tractor Supply has a 12 month low of $48.30 and a 12 month high of $61.53. 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 (NASDAQ:TSCO) last issued its quarterly earnings data 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%. Equities analysts forecast that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

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

Tractor Supply Increases Dividend

The business also recently disclosed 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. This represents a $3.68 dividend on an annualized basis and a dividend yield of 7.12%. 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. Tractor Supply’s payout ratio is currently 45.10%.

Insiders Place Their Bets

In related news, SVP Matthew L. Rubin sold 3,850 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $1,833,792.03. The trade was a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Harry A. Lawton III sold 88,095 shares of the business’s 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 owns 488,852 shares in the company, valued at approximately $26,686,430.68. This trade represents a 15.27 % 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 over the last quarter. 0.24% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TSCO. JPMorgan Chase & Co. raised their price target on Tractor Supply from $58.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Barclays dropped their price target on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a research report on Monday, December 30th. Guggenheim reissued a “buy” rating and set a $60.00 price target on shares of Tractor Supply in a research report on Friday, January 31st. Truist Financial dropped 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. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $67.00 price objective on shares of Tractor Supply in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Tractor Supply presently has an average rating of “Moderate Buy” and a consensus price target of $59.22.

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.