Atlantic Union Bankshares Corp Acquires 9,472 Shares of Tractor Supply (NASDAQ:TSCO)

Atlantic Union Bankshares Corp raised its holdings in Tractor Supply (NASDAQ:TSCO) by 400.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,840 shares of the specialty retailer’s stock after acquiring an additional 9,472 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Tractor Supply were worth $628,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of TSCO. Smithfield Trust Co raised its holdings in Tractor Supply by 286.2% in the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 352 shares during the period. PrairieView Partners LLC raised its holdings in Tractor Supply by 400.0% in the fourth quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 400 shares during the period. Future Financial Wealth Managment LLC raised its holdings in Tractor Supply by 400.0% in the fourth quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 400 shares during the period. Archer Investment Corp raised its holdings in Tractor Supply by 400.0% in the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 400 shares during the period. Finally, Kentucky Trust Co acquired a new stake in Tractor Supply in the fourth quarter worth $27,000. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $54.59, for a total value of $4,809,106.05. Following the completion of the transaction, the chief executive officer now owns 488,852 shares of the company’s stock, valued at $26,686,430.68. This trade represents a 15.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $57.69, for a total transaction of $222,106.50. Following the sale, the senior vice president now directly owns 31,787 shares of the company’s stock, valued at $1,833,792.03. The trade was a 10.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 137,993 shares of company stock valued at $7,538,068 in the last quarter. Company insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on TSCO shares. Wells Fargo & Company cut their target price on shares of Tractor Supply from $65.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Truist Financial cut their target price on shares of Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Bank of America raised their price objective on shares of Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a report on Thursday, January 16th. JPMorgan Chase & Co. raised their price objective on shares of Tractor Supply from $58.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, Mizuho raised their price objective on shares of Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.22.

Tractor Supply Stock Performance

Shares of TSCO opened at $56.89 on Friday. The firm has a 50-day moving average of $55.11 and a 200-day moving average of $55.75. Tractor Supply has a one year low of $48.30 and a one year high of $61.53. The company has a market cap of $30.38 billion, a PE ratio of 27.89, a price-to-earnings-growth 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.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings data 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 net margin of 7.40% and a return on equity of 49.01%. As a group, equities analysts forecast that Tractor Supply will post 2.17 earnings per share for the current year.

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

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th will be given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 6.47%. The ex-dividend date of this dividend is Wednesday, February 26th. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio (DPR) is 45.10%.

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.