Schechter Investment Advisors LLC Has $458,000 Stock Holdings in Tractor Supply (NASDAQ:TSCO)

Schechter Investment Advisors LLC raised its stake in Tractor Supply (NASDAQ:TSCO) by 435.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,640 shares of the specialty retailer’s stock after buying an additional 7,026 shares during the quarter. Schechter Investment Advisors LLC’s holdings in Tractor Supply were worth $458,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Baldwin Investment Management LLC increased its stake in Tractor Supply by 0.3% in 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 during the period. Huntington National Bank grew its position in Tractor Supply by 0.7% in the third 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 in the last quarter. First Horizon Advisors Inc. grew its position in Tractor Supply by 13.2% in the third quarter. First Horizon Advisors Inc. now owns 351 shares of the specialty retailer’s stock worth $102,000 after acquiring an additional 41 shares in the last quarter. Harbour Investments Inc. grew its position in 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 acquiring an additional 42 shares in the last quarter. Finally, Cynosure Group LLC grew its position in 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 acquiring an additional 42 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on TSCO. Loop Capital boosted their target price on shares of Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a research report on Thursday, December 12th. JPMorgan Chase & Co. boosted their target price on shares of Tractor Supply from $58.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Wells Fargo & Company decreased their target price on shares of Tractor Supply from $65.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Truist Financial decreased their target price on shares of 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, Evercore ISI raised shares of Tractor Supply from a “hold” rating to a “strong-buy” rating in a report on Friday, November 15th. 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.22.

Tractor Supply Price Performance

Shares of Tractor Supply stock opened at $54.95 on Thursday. 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 fifty-two week low of $48.30 and a fifty-two week high of $61.53. The firm has a fifty day moving average price of $55.08 and a two-hundred day moving average price of $55.71. The company has a market cap of $29.34 billion, a PE ratio of 26.94, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results 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%. Analysts expect that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th will be paid a $0.92 dividend. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date is Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 6.70%. Tractor Supply’s dividend payout ratio is currently 45.10%.

Tractor Supply announced that its Board of Directors has initiated a share repurchase program on Thursday, February 13th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the specialty retailer to buy up to 3.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, CEO Harry A. Lawton III sold 88,095 shares of the stock in a transaction on Monday, February 3rd. The shares were 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 represents a 15.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Melissa Kersey sold 9,300 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $53.17, for a total transaction of $494,481.00. Following the completion of the transaction, the executive vice president now owns 34,961 shares of the company’s stock, valued at approximately $1,858,876.37. This represents a 21.01 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 137,993 shares of company stock worth $7,538,068. 0.24% of the stock is currently owned by corporate insiders.

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.