Farther Finance Advisors LLC Has $1.13 Million Stake in Tractor Supply (NASDAQ:TSCO)

Farther Finance Advisors LLC increased its holdings in Tractor Supply (NASDAQ:TSCO) by 351.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,300 shares of the specialty retailer’s stock after buying an additional 16,583 shares during the period. Farther Finance Advisors LLC’s holdings in Tractor Supply were worth $1,130,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. BOK Financial Private Wealth Inc. increased its stake in Tractor Supply by 330.2% in the fourth quarter. BOK Financial Private Wealth Inc. now owns 21,355 shares of the specialty retailer’s stock valued at $1,133,000 after acquiring an additional 16,391 shares during the last quarter. Blueshift Asset Management LLC increased its stake in Tractor Supply by 32.7% in the third quarter. Blueshift Asset Management LLC now owns 9,945 shares of the specialty retailer’s stock valued at $2,893,000 after acquiring an additional 2,452 shares during the last quarter. Callan Family Office LLC bought a new position in Tractor Supply in the fourth quarter valued at approximately $503,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Tractor Supply by 379.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 890,898 shares of the specialty retailer’s stock valued at $47,271,000 after acquiring an additional 704,896 shares during the last quarter. Finally, Welch & Forbes LLC increased its stake in Tractor Supply by 391.4% in the fourth quarter. Welch & Forbes LLC now owns 484,922 shares of the specialty retailer’s stock valued at $25,730,000 after acquiring an additional 386,233 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tractor Supply

In other news, SVP Matthew L. Rubin sold 3,850 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $57.69, for a total transaction 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. This represents a 10.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Harry A. Lawton III sold 88,095 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 488,852 shares in the company, valued at $26,686,430.68. This 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. Company insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Truist Financial decreased their price objective on shares of Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Mizuho boosted their target price on shares of Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Barclays decreased their target price on shares of Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Monday, December 30th. Guggenheim reaffirmed a “buy” rating and set a $60.00 target price on shares of Tractor Supply in a research note on Friday, January 31st. Finally, Bank of America boosted their target price on shares of Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a research note on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $59.22.

Tractor Supply Price Performance

TSCO stock opened at $51.83 on Friday. The firm has a market cap of $27.68 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 2.95 and a beta of 0.85. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. Tractor Supply has a 12-month low of $48.30 and a 12-month high of $61.53. The company’s fifty day simple moving average is $55.19 and its 200 day simple moving average is $55.72.

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

Tractor Supply declared that its Board of Directors has authorized a stock repurchase plan on Thursday, February 13th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to reacquire up to 3.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

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 issued a $0.92 dividend. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $3.68 annualized dividend and a yield of 7.10%. Tractor Supply’s payout ratio is presently 45.10%.

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.