Baldwin Investment Management LLC Increases Stock Position in Tractor Supply (NASDAQ:TSCO)

Baldwin Investment Management LLC boosted its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 0.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,402 shares of the specialty retailer’s stock after buying an additional 38 shares during the quarter. Baldwin Investment Management LLC’s holdings in Tractor Supply were worth $3,317,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of TSCO. Dimensional Fund Advisors LP raised its holdings in Tractor Supply by 10.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,123,280 shares of the specialty retailer’s stock worth $303,278,000 after purchasing an additional 110,342 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Tractor Supply by 3.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 830,193 shares of the specialty retailer’s stock valued at $241,528,000 after acquiring an additional 29,730 shares in the last quarter. Provident Trust Co. grew its holdings in Tractor Supply by 1.7% in the third quarter. Provident Trust Co. now owns 679,701 shares of the specialty retailer’s stock worth $197,745,000 after purchasing an additional 11,139 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Tractor Supply by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 631,406 shares of the specialty retailer’s stock valued at $183,695,000 after purchasing an additional 8,142 shares during the last quarter. Finally, King Luther Capital Management Corp grew its stake in Tractor Supply by 0.4% during the 3rd quarter. King Luther Capital Management Corp now owns 454,290 shares of the specialty retailer’s stock worth $132,166,000 after buying an additional 2,018 shares during the last quarter. Institutional investors own 98.72% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TSCO. Benchmark raised their price target on Tractor Supply from $280.00 to $310.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Wells Fargo & Company lowered their price objective on shares of Tractor Supply from $325.00 to $320.00 and set an “overweight” rating for the company in a research note on Monday. Piper Sandler upped their target price on Tractor Supply from $300.00 to $332.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Wedbush reiterated a “neutral” rating and set a $270.00 price target on shares of Tractor Supply in a research note on Friday, October 25th. Finally, Robert W. Baird set a $320.00 target price on Tractor Supply in a research report on Thursday, October 17th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Tractor Supply currently has a consensus rating of “Moderate Buy” and an average price target of $282.59.

Insider Activity at Tractor Supply

In other Tractor Supply news, CFO Kurt D. Barton sold 23,532 shares of Tractor Supply stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total value of $6,957,000.48. Following the sale, the chief financial officer now owns 9,683 shares in the company, valued at $2,862,682.12. The trade was a 70.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.58% of the stock is currently owned by insiders.

Tractor Supply Price Performance

TSCO stock opened at $280.19 on Wednesday. Tractor Supply has a 1 year low of $197.00 and a 1 year high of $307.64. The firm has a market capitalization of $29.94 billion, a PE ratio of 27.26, a price-to-earnings-growth ratio of 3.59 and a beta of 0.82. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.48 and a quick ratio of 0.17. The business has a 50 day simple moving average of $284.23 and a 200-day simple moving average of $275.68.

Tractor Supply Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be given a dividend of $1.10 per share. The ex-dividend date is Monday, November 25th. This represents a $4.40 annualized dividend and a dividend yield of 1.57%. Tractor Supply’s payout ratio is 42.80%.

About Tractor Supply

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.