Alpine Woods Capital Investors LLC Has $2.56 Million Stock Position in Tractor Supply (NASDAQ:TSCO)

Alpine Woods Capital Investors LLC lifted its stake in shares of Tractor Supply (NASDAQ:TSCO) by 414.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 48,200 shares of the specialty retailer’s stock after purchasing an additional 38,825 shares during the quarter. Alpine Woods Capital Investors LLC’s holdings in Tractor Supply were worth $2,557,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of TSCO. Baldwin Investment Management LLC increased its holdings in Tractor Supply by 0.3% in the third quarter. Baldwin Investment Management LLC now owns 11,402 shares of the specialty retailer’s stock worth $3,317,000 after purchasing an additional 38 shares in the last quarter. Huntington National Bank increased its holdings 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 purchasing an additional 41 shares in the last quarter. First Horizon Advisors Inc. increased its holdings 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 purchasing an additional 41 shares in the last quarter. Harbour Investments Inc. increased its holdings 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 purchasing an additional 42 shares in the last quarter. Finally, Cynosure Group LLC increased its holdings 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 purchasing an additional 42 shares in the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

Tractor Supply Stock Performance

Shares of Tractor Supply stock opened at $51.66 on Friday. The business’s fifty day simple moving average is $55.21 and its 200 day simple moving average is $55.77. The firm has a market capitalization of $27.59 billion, a P/E ratio of 25.32, a price-to-earnings-growth 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 current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results 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%. As a group, analysts anticipate that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply announced that its board has initiated a share 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 repurchase up to 3.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Tractor Supply Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were paid a $0.92 dividend. The ex-dividend date was Wednesday, February 26th. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 annualized dividend and a dividend yield of 7.12%. Tractor Supply’s payout ratio is presently 45.10%.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, CEO Harry A. Lawton III sold 88,095 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 488,852 shares in the company, valued at $26,686,430.68. The trade was a 15.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Colin Yankee sold 24,602 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $54.15, for a total value of $1,332,198.30. Following the completion of the sale, the executive vice president now owns 33,645 shares in the company, valued at approximately $1,821,876.75. The trade was a 42.24 % decrease in their ownership of the stock. 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 ninety days. 0.24% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on TSCO. Telsey Advisory Group reiterated an “outperform” rating and issued a $67.00 target price on shares of Tractor Supply in a report on Thursday, January 30th. Truist Financial reduced their price objective on Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Bank of America raised their price objective on Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a research note on Thursday, January 16th. Wells Fargo & Company reduced their price objective on Tractor Supply from $65.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Finally, Loop Capital raised their price objective on Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $59.22.

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.