Trust Point Inc. Buys Shares of 6,189 Tractor Supply (NASDAQ:TSCO)

Trust Point Inc. bought a new stake in Tractor Supply (NASDAQ:TSCOFree Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 6,189 shares of the specialty retailer’s stock, valued at approximately $1,331,000.

Other large investors have also recently modified their holdings of the company. LPL Financial LLC raised its position in shares of Tractor Supply by 4.6% in the 3rd quarter. LPL Financial LLC now owns 113,873 shares of the specialty retailer’s stock worth $23,122,000 after acquiring an additional 5,014 shares in the last quarter. ST Germain D J Co. Inc. bought a new position in shares of Tractor Supply in the 2nd quarter worth about $29,000. Simon Quick Advisors LLC raised its position in shares of Tractor Supply by 21.1% in the 3rd quarter. Simon Quick Advisors LLC now owns 1,551 shares of the specialty retailer’s stock worth $315,000 after acquiring an additional 270 shares in the last quarter. State Street Corp raised its position in shares of Tractor Supply by 2.4% in the 2nd quarter. State Street Corp now owns 4,568,376 shares of the specialty retailer’s stock worth $1,010,068,000 after acquiring an additional 108,622 shares in the last quarter. Finally, Copeland Capital Management LLC grew its stake in shares of Tractor Supply by 397.6% in the 4th quarter. Copeland Capital Management LLC now owns 5,090 shares of the specialty retailer’s stock valued at $1,095,000 after buying an additional 4,067 shares during the period. Institutional investors and hedge funds own 98.72% of the company’s stock.

Tractor Supply Stock Performance

TSCO stock traded down $2.55 on Wednesday, hitting $254.34. The company had a trading volume of 234,173 shares, compared to its average volume of 1,167,192. The company has a current ratio of 1.50, a quick ratio of 0.28 and a debt-to-equity ratio of 0.82. Tractor Supply has a 12-month low of $185.00 and a 12-month high of $268.02. The stock has a market cap of $27.45 billion, a price-to-earnings ratio of 25.34, a P/E/G ratio of 3.88 and a beta of 0.84. The stock’s 50-day simple moving average is $244.88 and its 200 day simple moving average is $220.86.

Tractor Supply (NASDAQ:TSCOGet Free Report) last released its quarterly earnings results on Thursday, February 1st. The specialty retailer reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.06. Tractor Supply had a net margin of 7.61% and a return on equity of 53.60%. The business had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.67 billion. During the same period last year, the firm earned $2.43 earnings per share. The company’s quarterly revenue was down 8.6% on a year-over-year basis. As a group, equities research analysts expect that Tractor Supply will post 10.19 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were given a $1.10 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This is an increase from Tractor Supply’s previous quarterly dividend of $1.03. This represents a $4.40 annualized dividend and a yield of 1.73%. Tractor Supply’s dividend payout ratio (DPR) is presently 43.61%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Raymond James downgraded Tractor Supply from a “strong-buy” rating to an “outperform” rating and raised their target price for the company from $230.00 to $250.00 in a research note on Friday, February 2nd. The Goldman Sachs Group raised their target price on Tractor Supply from $230.00 to $262.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Evercore ISI raised their target price on Tractor Supply from $270.00 to $280.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Wells Fargo & Company lifted their price target on Tractor Supply from $250.00 to $285.00 and gave the company an “overweight” rating in a research note on Monday, March 25th. Finally, Truist Financial lifted their price target on Tractor Supply from $256.00 to $277.00 and gave the company a “buy” rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Tractor Supply has a consensus rating of “Hold” and a consensus target price of $239.83.

View Our Latest Report on Tractor Supply

Insiders Place Their Bets

In other Tractor Supply news, CFO Kurt D. Barton sold 4,335 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $257.00, for a total value of $1,114,095.00. Following the transaction, the chief financial officer now directly owns 20,678 shares in the company, valued at $5,314,246. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Kurt D. Barton sold 4,335 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $257.00, for a total transaction of $1,114,095.00. Following the sale, the chief financial officer now directly owns 20,678 shares in the company, valued at approximately $5,314,246. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Harry A. Lawton III sold 20,500 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $232.93, for a total transaction of $4,775,065.00. Following the completion of the sale, the chief executive officer now owns 95,192 shares in the company, valued at approximately $22,173,072.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 90,090 shares of company stock worth $21,201,877. Company insiders own 0.24% of the company’s stock.

Tractor Supply Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Tractor Supply (NASDAQ:TSCO)

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