Tractor Supply (NASDAQ:TSCO) Shares Bought by McCollum Christoferson Group LLC

McCollum Christoferson Group LLC raised its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 399.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 124,455 shares of the specialty retailer’s stock after acquiring an additional 99,529 shares during the quarter. Tractor Supply makes up 2.0% of McCollum Christoferson Group LLC’s investment portfolio, making the stock its 24th biggest holding. McCollum Christoferson Group LLC’s holdings in Tractor Supply were worth $6,604,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. increased its stake in Tractor Supply by 1,674.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 18,492 shares of the specialty retailer’s stock valued at $5,380,000 after purchasing an additional 17,450 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Tractor Supply by 13.2% in the 3rd quarter. First Horizon Advisors Inc. now owns 351 shares of the specialty retailer’s stock valued at $102,000 after buying an additional 41 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Tractor Supply by 1.3% in 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 buying an additional 8,142 shares during the last quarter. Icon Wealth Advisors LLC acquired a new stake in Tractor Supply during the 3rd quarter worth $431,000. Finally, Meridian Wealth Management LLC purchased a new stake in Tractor Supply in the third quarter valued at $558,000. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Stock Up 1.2 %

Tractor Supply stock opened at $52.46 on Monday. The stock’s 50 day moving average price is $55.03 and its 200 day moving average price is $55.69. Tractor Supply has a 1-year low of $48.30 and a 1-year high of $61.53. The company has a market cap of $28.01 billion, a PE ratio of 25.72, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20.

Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Thursday, January 30th. The specialty retailer reported $0.44 EPS for the quarter, missing the consensus estimate of $2.28 by ($1.84). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. On average, sell-side analysts predict that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were issued a $0.92 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 dividend on an annualized basis and a yield of 7.01%. Tractor Supply’s dividend payout ratio (DPR) is 45.10%.

Tractor Supply declared that its board has authorized a stock buyback plan on Thursday, February 13th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the specialty retailer to repurchase up to 3.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages have issued reports on TSCO. Mizuho raised their price objective on Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Telsey Advisory Group restated an “outperform” rating and set a $67.00 price target on shares of Tractor Supply in a research note on Thursday, January 30th. Truist Financial reduced their price objective on Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Guggenheim reissued a “buy” rating and issued a $60.00 price objective on shares of Tractor Supply in a report on Friday, January 31st. Finally, Loop Capital lifted their target price on shares of Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a report on Thursday, December 12th. 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.22.

Insider Activity

In other Tractor Supply news, 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 value of $222,106.50. Following the sale, the senior vice president now owns 31,787 shares of the company’s stock, 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 the SEC website. Also, EVP Melissa Kersey sold 9,300 shares of Tractor Supply stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $53.17, for a total value of $494,481.00. Following the transaction, the executive vice president now directly owns 34,961 shares of the company’s stock, valued at $1,858,876.37. This trade represents a 21.01 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 137,993 shares of company stock worth $7,538,068. Company insiders own 0.24% of the company’s stock.

Tractor Supply 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.