Harbour Investment Management LLC Boosts Holdings in Tractor Supply (NASDAQ:TSCO)

Harbour Investment Management LLC boosted its position in shares of Tractor Supply (NASDAQ:TSCO) by 400.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,950 shares of the specialty retailer’s stock after buying an additional 3,160 shares during the quarter. Harbour Investment Management LLC’s holdings in Tractor Supply were worth $210,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Baldwin Investment Management LLC increased its stake in shares of Tractor Supply by 0.3% in the 3rd quarter. Baldwin Investment Management LLC now owns 11,402 shares of the specialty retailer’s stock worth $3,317,000 after acquiring an additional 38 shares during the last quarter. Huntington National Bank increased its stake in shares of Tractor Supply by 0.7% in the 3rd quarter. Huntington National Bank now owns 5,538 shares of the specialty retailer’s stock worth $1,611,000 after acquiring an additional 41 shares during the last quarter. First Horizon Advisors Inc. increased its stake in shares of Tractor Supply by 13.2% in the 3rd quarter. First Horizon Advisors Inc. now owns 351 shares of the specialty retailer’s stock worth $102,000 after acquiring an additional 41 shares during the last quarter. Harbour Investments Inc. increased its stake in shares of Tractor Supply by 4.6% in the 3rd quarter. Harbour Investments Inc. now owns 958 shares of the specialty retailer’s stock worth $279,000 after acquiring an additional 42 shares during the last quarter. Finally, Cynosure Group LLC increased its stake in shares of Tractor Supply by 2.8% in the 3rd quarter. Cynosure Group LLC now owns 1,529 shares of the specialty retailer’s stock worth $445,000 after acquiring an additional 42 shares during the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tractor Supply

In other news, EVP Melissa Kersey sold 9,300 shares of the company’s 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 completion of the sale, the executive vice president now owns 34,961 shares in the company, valued at $1,858,876.37. This represents a 21.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Matthew L. Rubin sold 3,850 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $57.69, for a total value of $222,106.50. Following the sale, the senior vice president now owns 31,787 shares of the company’s stock, valued at $1,833,792.03. This trade represents a 10.80 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 137,993 shares of company stock worth $7,538,068. 0.24% of the stock is owned by insiders.

Tractor Supply Stock Performance

Shares of TSCO opened at $51.83 on Friday. The stock has a 50 day moving average price of $55.19 and a 200 day moving average price of $55.72. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $27.68 billion, a price-to-earnings ratio of 25.41, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. Tractor Supply has a 52-week low of $48.30 and a 52-week high of $61.53.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share (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%. Research analysts predict that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply announced that its board has approved a stock buyback program on Thursday, February 13th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the specialty retailer to reacquire up to 3.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Tractor Supply Increases Dividend

The company also recently disclosed 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 of this dividend was Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a yield of 7.10%. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s payout ratio is currently 45.10%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Guggenheim reiterated a “buy” rating and set a $60.00 price target on shares of Tractor Supply in a report on Friday, January 31st. Wells Fargo & Company lowered their price target on Tractor Supply from $65.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Loop Capital increased their price target on Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a report on Thursday, December 12th. Truist Financial lowered their price target on Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a report on Friday, January 31st. Finally, Barclays lowered their target price on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a report on Monday, December 30th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.