Wealthfront Advisers LLC Trims Stock Position in Tractor Supply (NASDAQ:TSCO)

Wealthfront Advisers LLC lowered its position in shares of Tractor Supply (NASDAQ:TSCO) by 23.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 12,198 shares of the specialty retailer’s stock after selling 3,779 shares during the period. Wealthfront Advisers LLC’s holdings in Tractor Supply were worth $677,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of TSCO. Cushing Capital Partners LLC purchased a new position in Tractor Supply in the 4th quarter worth approximately $697,000. Gables Capital Management Inc. grew its stake in Tractor Supply by 400.0% in the 4th quarter. Gables Capital Management Inc. now owns 9,500 shares of the specialty retailer’s stock worth $504,000 after buying an additional 7,600 shares in the last quarter. Inspire Advisors LLC purchased a new position in Tractor Supply in the 4th quarter worth approximately $1,004,000. King Luther Capital Management Corp grew its stake in Tractor Supply by 403.7% in the 4th quarter. King Luther Capital Management Corp now owns 2,288,400 shares of the specialty retailer’s stock worth $121,422,000 after buying an additional 1,834,110 shares in the last quarter. Finally, Citizens Financial Group Inc. RI grew its stake in Tractor Supply by 368.7% in the 4th quarter. Citizens Financial Group Inc. RI now owns 7,485 shares of the specialty retailer’s stock worth $397,000 after buying an additional 5,888 shares in the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Stock Up 0.3 %

NASDAQ:TSCO opened at $51.83 on Monday. The firm’s 50-day moving average price is $55.19 and its 200-day moving average price is $55.74. The company has a market capitalization of $27.68 billion, a PE ratio of 25.41, a P/E/G ratio of 2.95 and a beta of 0.85. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. Tractor Supply has a 1-year low of $48.30 and a 1-year high of $61.53.

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 net margin of 7.40% and a return on equity of 49.01%. On average, equities analysts predict that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 7.10%. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. Tractor Supply’s dividend payout ratio is 45.10%.

Tractor Supply announced that its Board of Directors has initiated a share repurchase plan on Thursday, February 13th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to reacquire up to 3.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

TSCO has been the subject of a number of research reports. Loop Capital upped their price objective on shares of Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, December 12th. Wells Fargo & Company cut their price objective on shares of Tractor Supply from $65.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Truist Financial cut their price objective on shares of Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, January 31st. JPMorgan Chase & Co. upped their price objective on shares of Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Finally, Bank of America upped their price objective on shares of Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a research note on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Tractor Supply currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.22.

Insider Activity at Tractor Supply

In related news, EVP Melissa Kersey sold 9,300 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $53.17, for a total transaction of $494,481.00. Following the sale, the executive vice president now directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Matthew L. Rubin sold 3,850 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 137,993 shares of company stock valued at $7,538,068. 0.24% of the stock is owned by insiders.

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.