Pollock Investment Advisors LLC Purchases New Holdings in Tractor Supply (NASDAQ:TSCO)

Pollock Investment Advisors LLC acquired a new position in Tractor Supply (NASDAQ:TSCO) in the 4th quarter, HoldingsChannel reports. The fund acquired 28,113 shares of the specialty retailer’s stock, valued at approximately $1,492,000. Tractor Supply accounts for about 1.2% of Pollock Investment Advisors LLC’s holdings, making the stock its 10th biggest position.

Several other large investors have also modified their holdings of TSCO. Baldwin Investment Management LLC boosted its holdings in Tractor Supply by 0.3% during the 3rd quarter. Baldwin Investment Management LLC now owns 11,402 shares of the specialty retailer’s stock valued at $3,317,000 after acquiring an additional 38 shares during the period. Huntington National Bank boosted its stake in shares of Tractor Supply by 0.7% during the third quarter. Huntington National Bank now owns 5,538 shares of the specialty retailer’s stock valued at $1,611,000 after purchasing an additional 41 shares during the period. First Horizon Advisors Inc. grew its holdings in shares of Tractor Supply by 13.2% in the third quarter. First Horizon Advisors Inc. now owns 351 shares of the specialty retailer’s stock worth $102,000 after purchasing an additional 41 shares during the last quarter. Harbour Investments Inc. increased its stake in Tractor Supply by 4.6% in the 3rd quarter. Harbour Investments Inc. now owns 958 shares of the specialty retailer’s stock worth $279,000 after buying an additional 42 shares during the period. Finally, Cynosure Group LLC lifted its holdings in Tractor Supply by 2.8% during the 3rd quarter. Cynosure Group LLC now owns 1,529 shares of the specialty retailer’s stock valued at $445,000 after buying an additional 42 shares in the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Insider Activity

In other Tractor Supply news, EVP Colin Yankee sold 24,602 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $54.15, for a total value of $1,332,198.30. Following the sale, the executive vice president now directly owns 33,645 shares of the company’s stock, valued at approximately $1,821,876.75. This represents a 42.24 % 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. Also, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $54.59, for a total value of $4,809,106.05. Following the transaction, the chief executive officer now owns 488,852 shares of the company’s stock, valued at $26,686,430.68. The trade was a 15.27 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,993 shares of company stock valued at $7,538,068. Company insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

TSCO has been the topic of a number of research analyst reports. Mizuho upped their target price on shares of Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Telsey Advisory Group reissued an “outperform” rating and issued a $67.00 price objective on shares of Tractor Supply in a research note on Thursday, January 30th. Bank of America lifted their target price on Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a research report on Thursday, January 16th. Loop Capital increased their price target on Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a research report on Thursday, December 12th. Finally, Truist Financial decreased their price objective on Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.22.

Tractor Supply Price Performance

Shares of TSCO stock opened at $51.83 on Friday. The firm has a market capitalization of $27.68 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 2.95 and a beta of 0.85. 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’s 50-day simple moving average is $55.19 and its 200-day simple moving average is $55.73. Tractor Supply has a fifty-two week low of $48.30 and a fifty-two week high of $61.53.

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

Tractor Supply declared that its Board of Directors has authorized a stock repurchase plan on Thursday, February 13th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the specialty retailer to purchase up to 3.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Tractor Supply Increases Dividend

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

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.