Tractor Supply (NASDAQ:TSCO) Shares Purchased by Procyon Advisors LLC

Procyon Advisors LLC boosted its position in Tractor Supply (NASDAQ:TSCO) by 7.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,314 shares of the specialty retailer’s stock after purchasing an additional 295 shares during the period. Procyon Advisors LLC’s holdings in Tractor Supply were worth $928,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Synovus Financial Corp lifted its position in shares of Tractor Supply by 1.9% during the 1st quarter. Synovus Financial Corp now owns 5,006 shares of the specialty retailer’s stock valued at $1,166,000 after acquiring an additional 93 shares during the period. Cibc World Market Inc. raised its position in shares of Tractor Supply by 10.4% during the 1st quarter. Cibc World Market Inc. now owns 12,622 shares of the specialty retailer’s stock worth $2,946,000 after purchasing an additional 1,186 shares during the last quarter. Sei Investments Co. raised its position in shares of Tractor Supply by 12.1% during the 1st quarter. Sei Investments Co. now owns 75,163 shares of the specialty retailer’s stock worth $17,565,000 after purchasing an additional 8,129 shares during the last quarter. Prudential PLC acquired a new position in shares of Tractor Supply during the 1st quarter worth approximately $611,000. Finally, Cetera Investment Advisers raised its position in shares of Tractor Supply by 15.8% during the 1st quarter. Cetera Investment Advisers now owns 6,238 shares of the specialty retailer’s stock worth $1,456,000 after purchasing an additional 849 shares during the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Insider Activity at Tractor Supply

In related news, EVP Jonathan S. Estep sold 7,120 shares of Tractor Supply stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $232.26, for a total transaction of $1,653,691.20. Following the completion of the transaction, the executive vice president now directly owns 13,605 shares of the company’s stock, valued at approximately $3,159,897.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tractor Supply news, EVP Jonathan S. Estep sold 7,120 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $232.26, for a total value of $1,653,691.20. Following the completion of the sale, the executive vice president now owns 13,605 shares in the company, valued at approximately $3,159,897.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Harry A. Lawton III sold 20,500 shares of Tractor Supply stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $232.93, for a total transaction of $4,775,065.00. Following the sale, the chief executive officer now owns 95,192 shares of the company’s stock, valued at approximately $22,173,072.56. The disclosure for this sale can be found here. Insiders sold 90,090 shares of company stock valued at $21,201,877 in the last ninety days. Insiders own 0.24% of the company’s stock.

Tractor Supply Price Performance

Shares of NASDAQ:TSCO traded up $0.10 during midday trading on Thursday, reaching $260.54. 75,393 shares of the company’s stock were exchanged, compared to its average volume of 1,182,354. The company’s 50 day simple moving average is $242.55 and its two-hundred day simple moving average is $219.60. The firm has a market capitalization of $28.12 billion, a PE ratio of 25.81, a price-to-earnings-growth ratio of 3.88 and a beta of 0.84. Tractor Supply has a 12 month low of $185.00 and a 12 month high of $268.02. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.28 and a current ratio of 1.50.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, February 1st. The specialty retailer reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.06. The company had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.67 billion. Tractor Supply had a net margin of 7.61% and a return on equity of 53.60%. The firm’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same period last year, the firm earned $2.43 EPS. Equities research analysts expect that Tractor Supply will post 10.19 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were issued a dividend of $1.10 per share. This is an increase from Tractor Supply’s previous quarterly dividend of $1.03. This represents a $4.40 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend was Friday, February 23rd. Tractor Supply’s dividend payout ratio (DPR) is currently 43.61%.

Analysts Set New Price Targets

Several analysts have commented on the stock. The Goldman Sachs Group lifted their target price on shares of Tractor Supply from $230.00 to $262.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Stephens lowered shares of Tractor Supply from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $226.00 to $240.00 in a report on Tuesday, January 23rd. Truist Financial lifted their target price on shares of Tractor Supply from $230.00 to $256.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Wells Fargo & Company lifted their target price on shares of Tractor Supply from $250.00 to $285.00 and gave the company an “overweight” rating in a report on Monday. Finally, Morgan Stanley restated an “underweight” rating and set a $195.00 target price on shares of Tractor Supply in a report on Tuesday, January 16th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $238.91.

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.