Nemes Rush Group LLC Has $1.33 Million Stock Holdings in Tractor Supply (NASDAQ:TSCO)

Nemes Rush Group LLC lifted its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 528.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,149 shares of the specialty retailer’s stock after purchasing an additional 21,150 shares during the quarter. Nemes Rush Group LLC’s holdings in Tractor Supply were worth $1,334,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Icon Wealth Advisors LLC bought a new stake in shares of Tractor Supply during the 3rd quarter worth about $111,000. Glen Eagle Advisors LLC lifted its holdings in Tractor Supply by 75.8% in the 3rd quarter. Glen Eagle Advisors LLC now owns 464 shares of the specialty retailer’s stock worth $135,000 after purchasing an additional 200 shares during the last quarter. Smithfield Trust Co boosted its position in Tractor Supply by 286.2% during the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 352 shares during the period. Future Financial Wealth Managment LLC raised its position in shares of 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. Finally, Archer Investment Corp lifted its stake in shares of Tractor Supply by 400.0% in the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer’s stock worth $27,000 after buying an additional 400 shares during the last quarter. Institutional investors own 98.72% of the company’s stock.

Tractor Supply Price Performance

Shares of TSCO stock opened at $55.10 on Tuesday. The firm has a market cap of $29.42 billion, a price-to-earnings ratio of 27.01, a PEG ratio of 2.95 and a beta of 0.85. Tractor Supply has a 12 month low of $48.30 and a 12 month high of $61.53. 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 stock has a 50-day moving average price of $55.06 and a 200 day moving average price of $55.65.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share 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%. Research analysts expect 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. Stockholders of record on Wednesday, February 26th were issued a $0.92 dividend. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $3.68 annualized dividend and a dividend yield of 6.68%. Tractor Supply’s payout ratio is 45.10%.

Tractor Supply announced that its Board of Directors has approved a share repurchase plan on Thursday, February 13th that permits the company to repurchase $1.00 billion in 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 board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TSCO. Telsey Advisory Group reiterated an “outperform” rating and issued a $67.00 target price on shares of Tractor Supply in a report on Thursday, January 30th. Truist Financial cut their price objective on Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Mizuho raised their target price on Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Loop Capital upped their price target on Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a report on Thursday, December 12th. Finally, Bank of America boosted their target price on shares of Tractor Supply from $44.00 to $53.00 and gave the stock 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 given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $59.22.

Insider Activity at Tractor Supply

In related news, CEO Harry A. Lawton III sold 88,095 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $54.59, for a total transaction of $4,809,106.05. Following the sale, the chief executive officer now directly owns 488,852 shares in the company, valued at $26,686,430.68. This trade represents a 15.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Matthew L. Rubin sold 3,850 shares of the company’s stock in a transaction 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. The trade was a 10.80 % 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 in the last quarter. Corporate insiders own 0.24% of the company’s stock.

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.