Wedmont Private Capital Takes Position in Tractor Supply (NASDAQ:TSCO)

Wedmont Private Capital acquired a new stake in shares of Tractor Supply (NASDAQ:TSCO – Get Rating) during the fourth quarter, HoldingsChannel reports. The firm acquired 1,408 shares of the specialty retailer’s stock, valued at approximately $312,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Wagner Wealth Management LLC bought a new stake in Tractor Supply in the second quarter valued at $30,000. Guardian Wealth Advisors LLC bought a new stake in Tractor Supply in the third quarter valued at $34,000. CoreFirst Bank & Trust bought a new stake in Tractor Supply in the second quarter valued at $39,000. Trust Co. of Vermont grew its position in Tractor Supply by 90.1% in the third quarter. Trust Co. of Vermont now owns 211 shares of the specialty retailer’s stock valued at $39,000 after acquiring an additional 100 shares during the period. Finally, Brown Brothers Harriman & Co. grew its position in Tractor Supply by 157.8% in the second quarter. Brown Brothers Harriman & Co. now owns 214 shares of the specialty retailer’s stock valued at $41,000 after acquiring an additional 131 shares during the period. 84.13% of the stock is currently owned by institutional investors.

Insider Activity at Tractor Supply

In related news, CEO Harry A. Lawton III sold 20,067 shares of the company’s stock in a transaction dated Thursday, February 9th. The stock was sold at an average price of $231.21, for a total value of $4,639,691.07. Following the completion of the sale, the chief executive officer now owns 84,734 shares in the company, valued at $19,591,348.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tractor Supply news, EVP Melissa Kersey sold 1,700 shares of the stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $237.57, for a total value of $403,869.00. Following the completion of the sale, the executive vice president now directly owns 8,051 shares in the company, valued at $1,912,676.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Harry A. Lawton III sold 20,067 shares of the stock in a transaction dated Thursday, February 9th. The stock was sold at an average price of $231.21, for a total value of $4,639,691.07. Following the completion of the sale, the chief executive officer now owns 84,734 shares of the company’s stock, valued at $19,591,348.14. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,091 shares of company stock worth $8,840,560. 0.70% of the stock is owned by insiders.

Analysts Set New Price Targets

TSCO has been the topic of a number of analyst reports. BNP Paribas upgraded Tractor Supply from a “neutral” rating to an “outperform” rating in a research report on Thursday, January 12th. Gordon Haskett raised Tractor Supply from an “accumulate” rating to a “buy” rating and boosted their price objective for the stock from $235.00 to $255.00 in a research note on Friday, February 10th. Credit Suisse Group assumed coverage on Tractor Supply in a research note on Monday, December 19th. They issued an “outperform” rating and a $260.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on Tractor Supply from $219.00 to $225.00 and gave the stock a “neutral” rating in a research note on Friday, January 27th. Finally, Truist Financial boosted their price objective on Tractor Supply from $237.00 to $273.00 and gave the stock a “buy” rating in a research note on Friday, January 27th. Eight investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Tractor Supply presently has an average rating of “Moderate Buy” and a consensus price target of $246.10.

Tractor Supply Trading Down 1.2 %

NASDAQ TSCO opened at $232.44 on Friday. The stock has a 50-day simple moving average of $227.70 and a 200 day simple moving average of $214.70. The company has a market capitalization of $25.58 billion, a PE ratio of 23.94, a P/E/G ratio of 2.26 and a beta of 0.83. The company has a current ratio of 1.33, a quick ratio of 0.19 and a debt-to-equity ratio of 0.59. Tractor Supply has a 12 month low of $166.49 and a 12 month high of $241.54.

Tractor Supply (NASDAQ:TSCO – Get Rating) last released its quarterly earnings data on Thursday, January 26th. The specialty retailer reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.35 by $0.08. The business had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $3.88 billion. Tractor Supply had a return on equity of 56.65% and a net margin of 7.66%. The firm’s revenue was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.93 earnings per share. Research analysts forecast that Tractor Supply will post 10.47 EPS for the current year.

Tractor Supply Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 14th. Investors of record on Monday, February 27th were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date was Friday, February 24th. This is an increase from Tractor Supply’s previous quarterly dividend of $0.92. Tractor Supply’s dividend payout ratio is currently 42.43%.

Tractor Supply Profile

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Tractor Supply Co engages in the retail sale of farm and ranch products. It operates retail farm & ranch stores and focuses on supplying the lifestyle needs of recreational farmers and ranchers, as well as tradesmen and small businesses. The firm operates the retail stores under the names: Tractor Supply Company, Del’s Feed & Farm Supply, and Petsense.