Connecticut Wealth Management LLC Grows Position in Tractor Supply (NASDAQ:TSCO)

Connecticut Wealth Management LLC grew its stake in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 396.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,406 shares of the specialty retailer's stock after purchasing an additional 13,899 shares during the quarter. Connecticut Wealth Management LLC's holdings in Tractor Supply were worth $924,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in TSCO. Smithfield Trust Co boosted its stake 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 during the period. Coppell Advisory Solutions LLC boosted its stake in shares of Tractor Supply by 944.4% during the fourth quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer's stock valued at $25,000 after purchasing an additional 425 shares during the period. PrairieView Partners LLC boosted 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 valued at $26,000 after purchasing an additional 400 shares during the period. Archer Investment Corp lifted 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 worth $27,000 after acquiring an additional 400 shares during the period. Finally, Kentucky Trust Co purchased a new stake in Tractor Supply in the fourth quarter worth $27,000. Hedge funds and other institutional investors own 98.72% of the company's stock.

Tractor Supply Price Performance

TSCO opened at $49.67 on Friday. The stock has a fifty day simple moving average of $51.55 and a two-hundred day simple moving average of $54.01. 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 market cap of $26.34 billion, a price-to-earnings ratio of 24.35, a price-to-earnings-growth ratio of 2.95 and a beta of 0.82. Tractor Supply has a 12-month low of $46.85 and a 12-month high of $61.53.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.03). The firm had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.55 billion. Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. Tractor Supply's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.83 EPS. Research analysts predict that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.85%. The ex-dividend date is Wednesday, May 28th. Tractor Supply's dividend payout ratio is presently 45.77%.

Tractor Supply declared that its board has initiated a stock repurchase program on Thursday, February 13th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the specialty retailer to buy up to 3.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Truist Financial dropped their price target on Tractor Supply from $63.00 to $60.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Raymond James dropped their price target on Tractor Supply from $61.00 to $57.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. UBS Group set a $54.00 price target on Tractor Supply in a research note on Friday, April 25th. JPMorgan Chase & Co. dropped their price target on Tractor Supply from $59.00 to $56.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Finally, Stephens assumed coverage on Tractor Supply in a research note on Wednesday, April 9th. They issued an "equal weight" rating and a $56.00 price target for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Tractor Supply has a consensus rating of "Moderate Buy" and an average target price of $58.02.

Insider Transactions at Tractor Supply

In other news, SVP Matthew L. Rubin sold 2,810 shares of Tractor Supply stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $51.76, for a total value of $145,445.60. Following the completion of the transaction, the senior vice president now owns 29,722 shares of the company's stock, valued at $1,538,410.72. The trade was a 8.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.65% of the stock is owned by insiders.

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.

Want to see what other hedge funds are holding TSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tractor Supply (NASDAQ:TSCO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.