Parallel Advisors LLC Has $458,000 Position in Tractor Supply (NASDAQ:TSCO)

Parallel Advisors LLC raised its position in Tractor Supply (NASDAQ:TSCO) by 477.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 8,634 shares of the specialty retailer’s stock after buying an additional 7,139 shares during the quarter. Parallel Advisors LLC’s holdings in Tractor Supply were worth $458,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Cibc World Markets Corp boosted its holdings in Tractor Supply by 475.9% in the fourth quarter. Cibc World Markets Corp now owns 84,515 shares of the specialty retailer’s stock valued at $4,484,000 after acquiring an additional 69,839 shares during the last quarter. SouthState Corp lifted its position in Tractor Supply by 749.1% during the 4th quarter. SouthState Corp now owns 30,000 shares of the specialty retailer’s stock valued at $1,592,000 after purchasing an additional 26,467 shares during the period. Creative Financial Designs Inc. ADV boosted its stake in shares of Tractor Supply by 401.4% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 707 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 566 shares during the last quarter. Jensen Investment Management Inc. raised its stake in shares of Tractor Supply by 400.0% during the fourth quarter. Jensen Investment Management Inc. now owns 126,150 shares of the specialty retailer’s stock worth $6,694,000 after buying an additional 100,920 shares during the last quarter. Finally, Signature Wealth Management Group raised its stake in shares of Tractor Supply by 410.0% during the fourth quarter. Signature Wealth Management Group now owns 37,309 shares of the specialty retailer’s stock worth $1,980,000 after buying an additional 29,994 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, EVP Colin Yankee sold 24,602 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $54.15, for a total value of $1,332,198.30. Following the completion of the transaction, the executive vice president now directly owns 33,645 shares in the company, valued at $1,821,876.75. This trade represents a 42.24 % 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, 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 sale, the chief executive officer now owns 488,852 shares in the company, valued at approximately $26,686,430.68. This represents a 15.27 % decrease in their position. 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. Insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

TSCO has been the subject of a number of analyst reports. Telsey Advisory Group reaffirmed an “outperform” rating and set a $67.00 target price on shares of Tractor Supply in a report on Thursday, January 30th. Bank of America upped 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. Wells Fargo & Company reduced their target price on Tractor Supply from $65.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Loop Capital upped their price target on Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, December 12th. Finally, Truist Financial reduced their price objective on shares of 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 analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Tractor Supply currently has an average rating of “Moderate Buy” and a consensus target price of $59.22.

Tractor Supply Stock Performance

TSCO opened at $52.46 on Friday. 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 company has a market capitalization of $28.01 billion, a price-to-earnings ratio of 25.72, a P/E/G ratio of 2.95 and a beta of 0.85. Tractor Supply has a 1 year low of $48.30 and a 1 year high of $61.53. The business’s 50-day moving average price is $55.03 and its two-hundred day moving average price is $55.67.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.28 by ($1.84). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. Equities analysts expect that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply declared that its board has authorized a stock repurchase program on Thursday, February 13th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the specialty retailer to purchase up to 3.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Tractor Supply Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were given a $0.92 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a yield of 7.01%. 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.