Sowell Financial Services LLC Makes New Investment in Tractor Supply (NASDAQ:TSCO)

Sowell Financial Services LLC bought a new position in shares of Tractor Supply (NASDAQ:TSCO) during the 4th quarter, Holdings Channel.com reports. The firm bought 13,417 shares of the specialty retailer’s stock, valued at approximately $712,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TSCO. Assetmark Inc. lifted its stake in shares of Tractor Supply by 2,383.3% in the 3rd quarter. Assetmark Inc. now owns 149 shares of the specialty retailer’s stock valued at $43,000 after purchasing an additional 143 shares during the period. Atria Investments Inc lifted its stake in shares of Tractor Supply by 4.3% in the 3rd quarter. Atria Investments Inc now owns 23,269 shares of the specialty retailer’s stock valued at $6,770,000 after purchasing an additional 951 shares during the period. Sigma Planning Corp lifted its stake in shares of Tractor Supply by 3.7% in the 3rd quarter. Sigma Planning Corp now owns 4,237 shares of the specialty retailer’s stock valued at $1,233,000 after purchasing an additional 152 shares during the period. Ashton Thomas Securities LLC acquired a new position in shares of Tractor Supply in the 3rd quarter valued at about $90,000. Finally, Nations Financial Group Inc. IA ADV acquired a new position in shares of Tractor Supply in the 3rd quarter valued at about $244,000. 98.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Matthew L. Rubin sold 3,850 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $57.69, for a total value of $222,106.50. Following the transaction, the senior vice president now owns 31,787 shares in the company, valued at approximately $1,833,792.03. This represents a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Colin Yankee sold 24,602 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 33,645 shares in the company, valued at approximately $1,821,876.75. The trade was a 42.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 137,993 shares of company stock valued at $7,538,068 over the last three months. Corporate insiders own 0.24% of the company’s stock.

Tractor Supply Stock Performance

TSCO stock opened at $53.92 on Wednesday. The firm has a market cap of $28.79 billion, a PE ratio of 26.43, a P/E/G ratio of 2.95 and a beta of 0.85. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. The business has a 50 day moving average of $55.22 and a 200-day moving average of $55.79. Tractor Supply has a 12-month low of $48.30 and a 12-month high of $61.53.

Tractor Supply (NASDAQ:TSCO) last released its earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share (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%. As a group, sell-side analysts expect that Tractor Supply will post 2.17 earnings per share for the current year.

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

Tractor Supply Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were issued a $0.92 dividend. The ex-dividend date was Wednesday, February 26th. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 annualized dividend and a dividend yield of 6.82%. Tractor Supply’s dividend payout ratio is currently 45.10%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Mizuho boosted their price objective on Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Guggenheim reaffirmed a “buy” rating and issued a $60.00 target price on shares of Tractor Supply in a research report on Friday, January 31st. Evercore ISI raised Tractor Supply from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 15th. JPMorgan Chase & Co. boosted their target price on Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Finally, Bank of America boosted 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. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Tractor Supply presently has an average rating of “Moderate Buy” and a consensus price target of $59.22.

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.