Tractor Supply (NASDAQ:TSCO) Shares Purchased by Connecticut Wealth Management LLC

Connecticut Wealth Management LLC raised its position in Tractor Supply (NASDAQ:TSCO) by 127.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,579 shares of the specialty retailer’s stock after acquiring an additional 2,005 shares during the quarter. Connecticut Wealth Management LLC’s holdings in Tractor Supply were worth $770,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in TSCO. Wellington Management Group LLP grew its position in Tractor Supply by 9,370.6% in the 3rd quarter. Wellington Management Group LLP now owns 2,822,151 shares of the specialty retailer’s stock valued at $573,038,000 after buying an additional 2,792,352 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Tractor Supply by 76.7% in the third 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 in the last quarter. Alecta Tjanstepension Omsesidigt increased its stake 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 valued at $161,272,000 after acquiring an additional 350,000 shares during the period. International Assets Investment Management LLC raised its holdings in Tractor Supply by 32,987.5% during 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 in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in Tractor Supply by 22.4% in the third quarter. Envestnet Asset Management Inc. now owns 1,148,340 shares of the specialty retailer’s stock worth $233,170,000 after purchasing an additional 210,131 shares during the period. Institutional investors own 98.72% of the company’s stock.

Analysts Set New Price Targets

TSCO has been the topic of a number of research reports. The Goldman Sachs Group boosted their price objective on Tractor Supply from $230.00 to $262.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Truist Financial upped their price target on shares of Tractor Supply from $277.00 to $289.00 and gave the company a “buy” rating in a report on Friday, April 26th. Barclays lifted their price objective on shares of Tractor Supply from $234.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Raymond James increased their price objective on Tractor Supply from $250.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Finally, Evercore ISI upped their price objective on shares of Tractor Supply from $275.00 to $280.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $253.54.

Insider Activity

In other Tractor Supply news, 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 directly owns 95,192 shares of the company’s stock, valued at $22,173,072.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Robert D. Mills sold 48,334 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $232.23, for a total value of $11,224,604.82. Following the completion of the sale, the executive vice president now directly owns 22,167 shares in the company, valued at $5,147,842.41. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Harry A. Lawton III sold 20,500 shares of the business’s 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 completion of the transaction, 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. In the last 90 days, insiders sold 90,090 shares of company stock worth $21,201,877. 0.24% of the stock is currently owned by corporate insiders.

Tractor Supply Stock Performance

TSCO stock traded up $3.51 during trading on Friday, reaching $270.21. 1,135,143 shares of the stock were exchanged, compared to its average volume of 1,174,176. Tractor Supply has a twelve month low of $185.00 and a twelve month high of $279.38. The company has a current ratio of 1.40, a quick ratio of 0.19 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $29.16 billion, a P/E ratio of 26.31, a price-to-earnings-growth ratio of 3.41 and a beta of 0.82. The stock has a 50 day simple moving average of $255.80 and a 200-day simple moving average of $229.15.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings data on Thursday, April 25th. The specialty retailer reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.13. The company had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.40 billion. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. The company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the company earned $1.65 EPS. As a group, sell-side analysts anticipate that Tractor Supply will post 10.3 earnings per share for the current year.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend was Friday, February 23rd. This is a positive change from Tractor Supply’s previous quarterly dividend of $1.03. Tractor Supply’s payout ratio is 42.84%.

About Tractor Supply

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.