OFI Invest Asset Management Purchases New Position in Tractor Supply (NASDAQ:TSCO)

OFI Invest Asset Management purchased a new stake in shares of Tractor Supply (NASDAQ:TSCO) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 730 shares of the specialty retailer’s stock, valued at approximately $37,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Assetmark Inc. boosted its stake in shares of Tractor Supply by 2,383.3% during the 3rd quarter. Assetmark Inc. now owns 149 shares of the specialty retailer’s stock worth $43,000 after acquiring an additional 143 shares during the last quarter. First Personal Financial Services bought a new stake in shares of Tractor Supply during the 3rd quarter valued at $29,000. Atria Investments Inc raised its position in shares of Tractor Supply by 4.3% during the 3rd quarter. Atria Investments Inc now owns 23,269 shares of the specialty retailer’s stock valued at $6,770,000 after purchasing an additional 951 shares during the period. Sigma Planning Corp raised its position in shares of Tractor Supply by 3.7% during the 3rd quarter. Sigma Planning Corp now owns 4,237 shares of the specialty retailer’s stock valued at $1,233,000 after purchasing an additional 152 shares during the period. Finally, Mitchell Mcleod Pugh & Williams Inc. bought a new stake in shares of Tractor Supply during the 3rd quarter valued at $215,000. Institutional investors own 98.72% of the company’s stock.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, CEO Harry A. Lawton III sold 88,095 shares of the business’s 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 sale, the chief executive officer now directly owns 488,852 shares of the company’s stock, valued at $26,686,430.68. The trade was a 15.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 directly owns 34,961 shares of the company’s stock, valued at $1,858,876.37. The trade was a 21.01 % 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 three months. Company insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TSCO. Truist Financial decreased 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 report on Friday, January 31st. Guggenheim restated a “buy” rating and set a $60.00 price objective on shares of Tractor Supply in a research report on Friday, January 31st. Evercore ISI upgraded shares of Tractor Supply from a “hold” rating to a “strong-buy” rating in a report on Friday, November 15th. Barclays reduced their price target on shares of Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating on the stock in a report on Monday, December 30th. Finally, Wells Fargo & Company reduced their price target 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. 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $59.22.

Tractor Supply Price Performance

TSCO stock opened at $57.21 on Tuesday. Tractor Supply has a 12 month low of $48.30 and a 12 month high of $61.53. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. The company has a 50-day moving average price of $55.20 and a 200 day moving average price of $55.79. The stock has a market cap of $30.55 billion, a PE ratio of 28.04, a P/E/G ratio of 2.95 and a beta of 0.85.

Tractor Supply (NASDAQ:TSCO) last released 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 return on equity of 49.01% and a net margin of 7.40%. Equities research analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply announced that its Board of Directors has authorized a stock repurchase program on Thursday, February 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the specialty retailer to buy up to 3.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Tractor Supply Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th will be given a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 6.43%. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Wednesday, February 26th. Tractor Supply’s payout ratio is 45.10%.

Tractor Supply Company 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.