Horizon Investments LLC Boosts Position in Tractor Supply (NASDAQ:TSCO)

Horizon Investments LLC boosted its position in shares of Tractor Supply (NASDAQ:TSCO) by 423.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,418 shares of the specialty retailer’s stock after acquiring an additional 7,618 shares during the quarter. Horizon Investments LLC’s holdings in Tractor Supply were worth $500,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Smithfield Trust Co increased its position in Tractor Supply by 286.2% during the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 352 shares during the last quarter. PrairieView Partners LLC increased its position in Tractor Supply by 400.0% during the fourth quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 400 shares during the last quarter. Future Financial Wealth Managment LLC increased its position in Tractor Supply by 400.0% during the fourth quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 400 shares during the last quarter. Archer Investment Corp increased its position in Tractor Supply by 400.0% during the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 400 shares during the last quarter. Finally, Kentucky Trust Co purchased a new stake in Tractor Supply during the fourth quarter valued at $27,000. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Insider Transactions at Tractor Supply

In other news, EVP Melissa Kersey sold 9,300 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $53.17, for a total value of $494,481.00. Following the sale, the executive vice president now owns 34,961 shares of the company’s stock, valued at approximately $1,858,876.37. This represents a 21.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Matthew L. Rubin sold 3,850 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total transaction of $222,106.50. Following the completion of the sale, the senior vice president now directly owns 31,787 shares in the company, valued at approximately $1,833,792.03. This represents a 10.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 137,993 shares of company stock worth $7,538,068. 0.24% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

TSCO has been the subject of a number of analyst reports. Telsey Advisory Group restated an “outperform” rating and issued a $67.00 price target on shares of Tractor Supply in a research report on Thursday, January 30th. Wells Fargo & Company reduced their price target on Tractor Supply from $65.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Barclays reduced their price target on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a research report on Monday, December 30th. Truist Financial reduced their price target on Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Finally, Guggenheim restated a “buy” rating and issued a $60.00 price target on shares of Tractor Supply in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $59.22.

Tractor Supply Price Performance

Shares of Tractor Supply stock opened at $51.84 on Friday. The stock has a 50 day moving average of $55.07 and a 200 day moving average of $55.67. Tractor Supply has a 12 month low of $48.30 and a 12 month high of $61.53. The firm has a market cap of $27.68 billion, a PE ratio of 25.41, a PEG ratio of 2.95 and a beta of 0.85. 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 announced 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 net margin of 7.40% and a return on equity of 49.01%. On average, research analysts expect that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply announced that its Board of Directors has authorized a stock buyback plan on Thursday, February 13th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the specialty retailer to buy up to 3.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Tractor Supply Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 7.10%. Tractor Supply’s payout ratio is 45.10%.

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.