CoreFirst Bank & Trust Buys Shares of 1,000 Tractor Supply (NASDAQ:TSCO)

CoreFirst Bank & Trust bought a new position in Tractor Supply (NASDAQ:TSCO) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,000 shares of the specialty retailer’s stock, valued at approximately $53,000.

A number of other hedge funds also recently made changes to their positions in the stock. Smithfield Trust Co lifted its stake in Tractor Supply by 286.2% in the 4th quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 352 shares during the last quarter. PrairieView Partners LLC grew its stake in shares of Tractor Supply by 400.0% during the fourth 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 shares of 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 in the last quarter. Archer Investment Corp lifted its stake in shares of Tractor Supply by 400.0% in the 4th 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 acquired a new stake in shares of Tractor Supply during the 4th quarter valued at $27,000. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Tractor Supply Trading Down 1.3 %

Shares of TSCO stock opened at $52.83 on Wednesday. Tractor Supply has a fifty-two week low of $48.30 and a fifty-two week high of $61.53. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. The stock has a 50 day simple moving average of $55.00 and a two-hundred day simple moving average of $55.67. The company has a market cap of $28.21 billion, a P/E ratio of 25.90, a PEG ratio of 2.95 and a beta of 0.85.

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

Tractor Supply Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were issued a dividend of $0.92 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $3.68 annualized dividend and a dividend yield of 6.97%. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio is currently 45.10%.

Tractor Supply announced that its board has approved a stock repurchase program on Thursday, February 13th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the specialty retailer to repurchase up to 3.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of the 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 transaction, the senior vice president now owns 31,787 shares in the company, valued at approximately $1,833,792.03. This represents a 10.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Melissa Kersey sold 9,300 shares of the business’s stock in a transaction that occurred 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 position. The disclosure for this sale can be found here. Insiders have sold 137,993 shares of company stock valued at $7,538,068 in the last 90 days. 0.58% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on TSCO shares. Guggenheim reaffirmed a “buy” rating and issued a $60.00 target price on shares of Tractor Supply in a report on Friday, January 31st. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $67.00 price objective on shares of Tractor Supply in a research note on Thursday, January 30th. Barclays cut their target price on shares of Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Monday, December 30th. Bank of America upped their price target on shares of Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a research report on Thursday, January 16th. Finally, Truist Financial cut their price target on shares of Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Tractor Supply has an average rating of “Moderate Buy” and an average price target of $59.22.

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.