Legacy Capital Wealth Partners LLC Raises Stock Position in Tractor Supply (NASDAQ:TSCO)

Legacy Capital Wealth Partners LLC increased its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 4.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,043 shares of the specialty retailer’s stock after purchasing an additional 94 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Tractor Supply were worth $439,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its position in shares of Tractor Supply by 9,370.6% during the third quarter. Wellington Management Group LLP now owns 2,822,151 shares of the specialty retailer’s stock valued at $573,038,000 after purchasing an additional 2,792,352 shares in the last quarter. Invesco Ltd. grew its position in Tractor Supply by 76.7% in the 3rd quarter. Invesco Ltd. now owns 2,024,182 shares of the specialty retailer’s stock valued at $411,010,000 after acquiring an additional 878,874 shares during the last quarter. Alecta Tjanstepension Omsesidigt lifted its position in shares of Tractor Supply by 87.5% during the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 750,000 shares of the specialty retailer’s stock worth $161,272,000 after purchasing an additional 350,000 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Tractor Supply by 32,987.5% in the fourth quarter. International Assets Investment Management LLC now owns 270,325 shares of the specialty retailer’s stock worth $58,128,000 after purchasing an additional 269,508 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Tractor Supply by 22.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,148,340 shares of the specialty retailer’s stock valued at $233,170,000 after buying an additional 210,131 shares in the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

Tractor Supply Stock Performance

NASDAQ TSCO opened at $273.90 on Monday. The business’s 50-day moving average price is $252.44 and its 200 day moving average price is $226.90. The company has a quick ratio of 0.19, a current ratio of 1.40 and a debt-to-equity ratio of 0.83. The firm has a market cap of $29.56 billion, a P/E ratio of 26.67, a P/E/G ratio of 3.47 and a beta of 0.84. Tractor Supply has a 52-week low of $185.00 and a 52-week high of $274.66.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings data on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.13. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The company had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same period in the previous year, the company posted $1.65 EPS. Tractor Supply’s revenue was up 2.8% compared to the same quarter last year. On average, equities research analysts expect that Tractor Supply will post 10.26 earnings per share for the current year.

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend was Friday, February 23rd. This is an increase from Tractor Supply’s previous quarterly dividend of $1.03. Tractor Supply’s dividend payout ratio (DPR) is currently 42.84%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TSCO shares. Guggenheim boosted their price target on Tractor Supply from $210.00 to $255.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Piper Sandler increased their price objective on shares of Tractor Supply from $265.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday. The Goldman Sachs Group lifted their price objective on shares of Tractor Supply from $230.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Evercore ISI raised their price objective on Tractor Supply from $275.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Stephens downgraded shares of Tractor Supply from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $226.00 to $240.00 in a report on Tuesday, January 23rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $250.00.

Insiders Place Their Bets

In other news, CFO Kurt D. Barton sold 401 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $232.06, for a total value of $93,056.06. Following the completion of the transaction, the chief financial officer now owns 25,013 shares in the company, valued at $5,804,516.78. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Harry A. Lawton III sold 20,500 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $232.93, for a total transaction of $4,775,065.00. Following the transaction, the chief executive officer now owns 95,192 shares of the company’s stock, valued at $22,173,072.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kurt D. Barton sold 401 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $232.06, for a total value of $93,056.06. Following the sale, the chief financial officer now owns 25,013 shares in the company, valued at approximately $5,804,516.78. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,090 shares of company stock worth $21,201,877. 0.58% of the stock is owned by company insiders.

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.