Scotia Capital Inc. Boosts Holdings in Tractor Supply (NASDAQ:TSCO)

Scotia Capital Inc. lifted its holdings in Tractor Supply (NASDAQ:TSCO) by 393.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,711 shares of the specialty retailer’s stock after purchasing an additional 14,921 shares during the period. Scotia Capital Inc.’s holdings in Tractor Supply were worth $993,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Smithfield Trust Co grew its stake in shares of Tractor Supply by 286.2% in the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer’s stock worth $25,000 after acquiring an additional 352 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Tractor Supply by 28.2% in the fourth quarter. Blue Trust Inc. now owns 1,646 shares of the specialty retailer’s stock valued at $87,000 after acquiring an additional 362 shares in the last quarter. Future Financial Wealth Managment LLC boosted its holdings in Tractor Supply by 400.0% in the fourth quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 400 shares during the period. Archer Investment Corp grew its stake in Tractor Supply by 400.0% during the 4th quarter. Archer Investment Corp now owns 500 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 400 shares in the last quarter. Finally, PrairieView Partners LLC increased its holdings in Tractor Supply by 400.0% during the 4th quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 400 shares during the period. 98.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TSCO shares. Telsey Advisory Group reiterated 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 boosted their price target on shares of Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a report on Thursday, January 16th. JPMorgan Chase & Co. raised their price objective on shares of Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Stephens assumed coverage on shares of Tractor Supply in a research report on Wednesday, April 9th. They set an “equal weight” rating and a $56.00 price objective for the company. Finally, Truist Financial dropped their target price on Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Tractor Supply currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.07.

Insider Activity at Tractor Supply

In other news, SVP Matthew L. Rubin sold 3,850 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 31,787 shares of the company’s stock, valued at approximately $1,833,792.03. This represents a 10.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Kurt D. Barton sold 12,146 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $56.00, for a total value of $680,176.00. Following the completion of the sale, the chief financial officer now directly owns 47,715 shares of the company’s stock, valued at $2,672,040. This represents a 20.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 137,993 shares of company stock worth $7,538,068 over the last 90 days. Company insiders own 0.24% of the company’s stock.

Tractor Supply Trading Up 0.7 %

Shares of TSCO stock opened at $51.67 on Monday. The company has a market capitalization of $27.47 billion, a P/E ratio of 25.33, a price-to-earnings-growth ratio of 2.95 and a beta of 0.88. 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 business’s 50 day moving average is $54.07 and its two-hundred day moving average is $55.35. Tractor Supply has a twelve month low of $46.97 and a twelve month high of $61.53.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share 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%. Equities analysts forecast that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were issued a dividend of $0.92 per share. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 annualized dividend and a yield of 7.12%. The ex-dividend date was Wednesday, February 26th. Tractor Supply’s dividend payout ratio is currently 45.10%.

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

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.