Southeast Asset Advisors LLC Acquires 39,639 Shares of Tractor Supply (NASDAQ:TSCO)

Southeast Asset Advisors LLC lifted its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 372.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 50,290 shares of the specialty retailer’s stock after acquiring an additional 39,639 shares during the period. Southeast Asset Advisors LLC’s holdings in Tractor Supply were worth $2,668,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Smithfield Trust Co lifted its position in shares of 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 purchasing an additional 352 shares in the last quarter. PrairieView Partners LLC boosted its holdings in shares of Tractor Supply by 400.0% in the 4th quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer’s stock worth $26,000 after buying an additional 400 shares during the last quarter. Future Financial Wealth Managment LLC increased its holdings 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 worth $27,000 after buying an additional 400 shares during the last quarter. Archer Investment Corp boosted its stake in Tractor Supply by 400.0% in 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 shares of Tractor Supply during the 4th quarter worth approximately $27,000. Institutional investors and hedge funds own 98.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Loop Capital boosted their price objective on Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, December 12th. Guggenheim reissued a “buy” rating and issued a $60.00 price target on shares of Tractor Supply in a research report on Friday, January 31st. Barclays reduced their price objective on shares of Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a research note on Monday, December 30th. Truist Financial dropped their target price on Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Finally, Bank of America boosted their price objective on Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a research note on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Tractor Supply presently has a consensus rating of “Moderate Buy” and an average price target of $59.22.

Tractor Supply Price Performance

TSCO opened at $52.40 on Monday. The stock has a market capitalization of $27.86 billion, a P/E ratio of 25.69, a PEG ratio of 2.95 and a beta of 0.88. 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 has a 12-month low of $48.30 and a 12-month high of $61.53. The stock has a 50-day moving average price of $54.84 and a 200-day moving average price of $55.62.

Tractor Supply (NASDAQ:TSCO) last issued 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%. Equities analysts predict that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

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. This represents a $3.68 dividend on an annualized basis and a yield of 7.02%. The ex-dividend date of this dividend was Wednesday, February 26th. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio (DPR) is presently 45.10%.

Tractor Supply announced that its board has approved a share buyback plan on Thursday, February 13th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the specialty retailer to repurchase up to 3.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Tractor Supply

In other news, EVP Melissa Kersey sold 9,300 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $53.17, for a total value of $494,481.00. Following the completion of the sale, the executive vice president now owns 34,961 shares of the company’s stock, valued at approximately $1,858,876.37. The trade was a 21.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Harry A. Lawton III sold 88,095 shares of the firm’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 transaction, the chief executive officer now owns 488,852 shares in the company, valued at approximately $26,686,430.68. The trade was a 15.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 137,993 shares of company stock worth $7,538,068 over the last three months. Company insiders own 0.24% of the company’s stock.

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.