Richwood Investment Advisors LLC Increases Stock Position in Tractor Supply (NASDAQ:TSCO)

Richwood Investment Advisors LLC grew its holdings in Tractor Supply (NASDAQ:TSCO) by 439.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 28,735 shares of the specialty retailer’s stock after buying an additional 23,411 shares during the period. Tractor Supply accounts for approximately 1.3% of Richwood Investment Advisors LLC’s portfolio, making the stock its 17th largest position. Richwood Investment Advisors LLC’s holdings in Tractor Supply were worth $1,525,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Smithfield Trust Co raised its holdings in shares of Tractor Supply by 286.2% in the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 352 shares during the last quarter. PrairieView Partners LLC raised its holdings in shares of Tractor Supply by 400.0% in the fourth quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 400 shares during the last quarter. Future Financial Wealth Managment LLC raised its holdings in shares of Tractor Supply by 400.0% in the fourth quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 400 shares during the last quarter. Archer Investment Corp raised its holdings in shares of Tractor Supply by 400.0% in the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 400 shares during the last quarter. Finally, Kentucky Trust Co purchased a new stake in shares of Tractor Supply in the fourth quarter valued at about $27,000. 98.72% of the stock is owned by hedge funds and other institutional investors.

Tractor Supply Stock Up 1.2 %

TSCO stock opened at $52.46 on Friday. The company’s 50 day simple moving average is $55.03 and its 200-day simple moving average is $55.68. The firm 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 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 released its quarterly 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%. Equities analysts expect that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were given 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 7.01%. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio (DPR) is 45.10%.

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

Analyst Upgrades and Downgrades

TSCO has been the subject of several analyst reports. 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. Guggenheim reissued a “buy” rating and set a $60.00 price target on shares of Tractor Supply in a report on Friday, January 31st. Wells Fargo & Company cut their price target on shares of Tractor Supply from $65.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. JPMorgan Chase & Co. increased their price target on shares of Tractor Supply from $58.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, Mizuho increased their price target on shares of Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $59.22.

Insider Buying and Selling

In related news, CEO Harry A. Lawton III sold 88,095 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $54.59, for a total transaction of $4,809,106.05. Following the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Matthew L. Rubin sold 3,850 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $57.69, for a total transaction of $222,106.50. Following the sale, the senior vice president now owns 31,787 shares in the company, valued at approximately $1,833,792.03. This trade represents a 10.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 137,993 shares of company stock worth $7,538,068. 0.24% of the stock is owned by insiders.

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.