Ellevest Inc. Buys 6,940 Shares of Tractor Supply (NASDAQ:TSCO)

by · The Markets Daily

Ellevest Inc. boosted its position in shares of Tractor Supply (NASDAQ:TSCO – Free Report) by 383.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 8,752 shares of the specialty retailer’s stock after purchasing an additional 6,940 shares during the period. Ellevest Inc.’s holdings in Tractor Supply were worth $464,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TSCO. Smithfield Trust Co increased its holdings in shares of Tractor Supply by 286.2% in 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. Coppell Advisory Solutions LLC grew its position in Tractor Supply by 944.4% during the fourth quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer’s stock worth $25,000 after buying an additional 425 shares in the last quarter. PrairieView Partners LLC raised its holdings in shares of Tractor Supply by 400.0% in the 4th quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 400 shares in the last quarter. Future Financial Wealth Managment LLC boosted its position in shares of Tractor Supply by 400.0% during the 4th quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 400 shares during the last quarter. Finally, Archer Investment Corp grew its holdings in shares of Tractor Supply by 400.0% during the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 400 shares in the last quarter. Institutional investors own 98.72% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Colin Yankee sold 24,602 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $54.15, for a total transaction of $1,332,198.30. Following the sale, 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Matthew L. Rubin sold 3,850 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now directly owns 31,787 shares in the company, valued at $1,833,792.03. This represents a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,598 shares of company stock worth $2,234,481. Company insiders own 0.65% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on TSCO shares. Raymond James lowered their target price on shares of Tractor Supply from $61.00 to $57.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Stephens initiated coverage on Tractor Supply in a research report on Wednesday, April 9th. They set an “equal weight” rating and a $56.00 price target on the stock. 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 report on Friday, January 31st. Guggenheim decreased their price objective on Tractor Supply from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Finally, Robert W. Baird cut their target price on Tractor Supply from $63.00 to $56.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Tractor Supply has a consensus rating of “Moderate Buy” and a consensus target price of $58.02.

Check Out Our Latest Research Report on TSCO

Tractor Supply Price Performance

Shares of Tractor Supply stock opened at $51.31 on Friday. The business has a 50 day moving average of $51.96 and a 200 day moving average of $54.17. Tractor Supply has a 52 week low of $46.85 and a 52 week high of $61.53. The company has a market cap of $27.28 billion, a PE ratio of 25.15, a P/E/G ratio of 2.95 and a beta of 0.82. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82.

Tractor Supply (NASDAQ:TSCO – Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $0.34 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.03). The company had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.55 billion. Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.83 earnings per share. As a group, equities research analysts forecast that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply declared that its Board of Directors has authorized a share 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 buy up to 3.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 7.17%. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, February 26th. Tractor Supply’s payout ratio is presently 45.77%.

Tractor Supply Company Profile

(Free Report)

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.

See Also

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