Focus Partners Wealth Purchases 39,210 Shares of Tractor Supply (NASDAQ:TSCO)

Focus Partners Wealth increased its holdings in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 631.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 45,421 shares of the specialty retailer's stock after purchasing an additional 39,210 shares during the period. Focus Partners Wealth's holdings in Tractor Supply were worth $2,410,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of TSCO. FORA Capital LLC increased its position in shares of Tractor Supply by 434.1% during the fourth quarter. FORA Capital LLC now owns 35,526 shares of the specialty retailer's stock worth $1,885,000 after purchasing an additional 28,875 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in Tractor Supply by 385.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,089,542 shares of the specialty retailer's stock worth $59,260,000 after buying an additional 865,273 shares during the period. BOK Financial Private Wealth Inc. boosted its holdings in shares of Tractor Supply by 330.2% in the 4th quarter. BOK Financial Private Wealth Inc. now owns 21,355 shares of the specialty retailer's stock valued at $1,133,000 after acquiring an additional 16,391 shares during the last quarter. Blueshift Asset Management LLC grew its position in Tractor Supply by 571.8% during the 4th quarter. Blueshift Asset Management LLC now owns 66,815 shares of the specialty retailer's stock worth $3,545,000 after purchasing an additional 56,870 shares during the period. Finally, Heritage Trust Co acquired a new stake in Tractor Supply during the fourth quarter worth about $1,829,000. Institutional investors own 98.72% of the company's stock.

Tractor Supply Price Performance

Shares of NASDAQ TSCO opened at $52.17 on Friday. 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 stock has a market cap of $27.66 billion, a P/E ratio of 25.57, a P/E/G ratio of 2.95 and a beta of 0.82. The stock has a 50 day moving average of $51.66 and a two-hundred day moving average of $54.08. Tractor Supply has a twelve month low of $46.85 and a twelve 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 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.03). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. The company had revenue of $3.47 billion for the quarter, compared to analysts' expectations of $3.55 billion. During the same period in the prior year, the company earned $1.83 earnings per share. The firm's revenue was up 2.1% on a year-over-year basis. On average, research analysts forecast that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply announced that its board has approved a stock repurchase plan on Thursday, February 13th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the specialty retailer to purchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its shares are undervalued.

Tractor Supply Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.76%. Tractor Supply's payout ratio is 45.77%.

Insider Activity

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of the business's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $57.69, for a total transaction of $222,106.50. Following the sale, the senior vice president now directly owns 31,787 shares in the company, valued at approximately $1,833,792.03. The trade was a 10.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.65% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. cut 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. Truist Financial dropped their target price on Tractor Supply from $63.00 to $60.00 and set a "buy" rating for the company in a report on Friday, January 31st. Stephens started coverage on Tractor Supply in a report on Wednesday, April 9th. They issued an "equal weight" rating and a $56.00 price objective on the stock. Robert W. Baird lowered their target price on shares of Tractor Supply from $63.00 to $56.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Finally, Bank of America increased their target price on Tractor Supply from $44.00 to $53.00 and gave the stock an "underperform" rating in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $58.02.

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.

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