Trust Investment Advisors Has $1.62 Million Stock Holdings in Tractor Supply (NASDAQ:TSCO)

Trust Investment Advisors grew its stake in shares of Tractor Supply (NASDAQ:TSCO) by 372.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 30,545 shares of the specialty retailer’s stock after buying an additional 24,084 shares during the quarter. Tractor Supply accounts for approximately 1.0% of Trust Investment Advisors’ portfolio, making the stock its 27th biggest position. Trust Investment Advisors’ holdings in Tractor Supply were worth $1,621,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Larson Financial Group LLC grew its stake in Tractor Supply by 29.4% in the third quarter. Larson Financial Group LLC now owns 286 shares of the specialty retailer’s stock valued at $83,000 after acquiring an additional 65 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of Tractor Supply by 8.0% in the third quarter. Daiwa Securities Group Inc. now owns 17,726 shares of the specialty retailer’s stock valued at $5,157,000 after purchasing an additional 1,316 shares during the last quarter. Loomis Sayles & Co. L P lifted its position in shares of Tractor Supply by 0.4% during the third quarter. Loomis Sayles & Co. L P now owns 46,930 shares of the specialty retailer’s stock valued at $13,653,000 after purchasing an additional 177 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in Tractor Supply by 17.3% during the third quarter. D.A. Davidson & CO. now owns 9,685 shares of the specialty retailer’s stock worth $2,818,000 after purchasing an additional 1,430 shares during the last quarter. Finally, FMR LLC lifted its position in shares of Tractor Supply by 7.6% during the 3rd quarter. FMR LLC now owns 163,454 shares of the specialty retailer’s stock worth $47,554,000 after buying an additional 11,584 shares in the last quarter. Institutional investors own 98.72% of the company’s stock.

Wall Street Analysts Forecast Growth

TSCO has been the subject of a number of research analyst reports. Telsey Advisory Group restated an “outperform” rating and set a $67.00 price objective on shares of Tractor Supply in a report on Thursday, January 30th. Bank of America increased their price objective on Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a report on Thursday, January 16th. JPMorgan Chase & Co. boosted their target price on Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Guggenheim reiterated a “buy” rating and set a $60.00 price target on shares of Tractor Supply in a research note on Friday, January 31st. Finally, Truist Financial lowered their price objective on Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Tractor Supply currently has a consensus rating of “Moderate Buy” and an average target price of $59.22.

Tractor Supply Trading Down 1.3 %

Shares of TSCO opened at $52.83 on Wednesday. Tractor Supply has a 1-year low of $48.30 and a 1-year high of $61.53. The company has a market capitalization of $28.21 billion, a P/E ratio of 25.90, a P/E/G ratio of 2.95 and a beta of 0.85. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. The firm’s 50 day simple moving average is $55.00 and its 200 day simple moving average is $55.67.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share 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%. Sell-side analysts forecast that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were issued a $0.92 dividend. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 dividend on an annualized basis and a dividend yield of 6.97%. The ex-dividend date was Wednesday, February 26th. Tractor Supply’s dividend payout ratio is presently 45.10%.

Tractor Supply declared that its Board of Directors has initiated a share buyback 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 shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other Tractor Supply news, CEO Harry A. Lawton III sold 88,095 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 488,852 shares of the company’s stock, valued at $26,686,430.68. This represents a 15.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Melissa Kersey sold 9,300 shares of Tractor Supply stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $53.17, for a total transaction of $494,481.00. Following the transaction, the executive vice president now directly owns 34,961 shares in the company, valued at $1,858,876.37. This trade represents a 21.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 137,993 shares of company stock worth $7,538,068. 0.58% of the stock is currently 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.