Naples Money Management LLC Invests $2.73 Million in Tractor Supply (NASDAQ:TSCO)

Naples Money Management LLC acquired a new position in shares of Tractor Supply (NASDAQ:TSCO) in the 4th quarter, Holdings Channel reports. The fund acquired 12,671 shares of the specialty retailer’s stock, valued at approximately $2,725,000. Tractor Supply makes up about 2.6% of Naples Money Management LLC’s portfolio, making the stock its 10th biggest holding.

Several other institutional investors have also modified their holdings of the stock. Fidelis Capital Partners LLC raised its position in Tractor Supply by 5.0% in the 4th quarter. Fidelis Capital Partners LLC now owns 1,116 shares of the specialty retailer’s stock valued at $240,000 after purchasing an additional 53 shares during the last quarter. Waterfront Wealth Inc. raised its position in Tractor Supply by 1.9% in the 4th quarter. Waterfront Wealth Inc. now owns 3,718 shares of the specialty retailer’s stock valued at $800,000 after purchasing an additional 71 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its position in Tractor Supply by 82.6% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 272 shares of the specialty retailer’s stock valued at $58,000 after purchasing an additional 123 shares during the last quarter. TRUE Private Wealth Advisors raised its position in Tractor Supply by 51.1% in the 4th quarter. TRUE Private Wealth Advisors now owns 1,594 shares of the specialty retailer’s stock valued at $343,000 after purchasing an additional 539 shares during the last quarter. Finally, Allen Capital Group LLC raised its position in Tractor Supply by 20.8% in the 4th quarter. Allen Capital Group LLC now owns 10,718 shares of the specialty retailer’s stock valued at $2,305,000 after purchasing an additional 1,849 shares during the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, CFO Kurt D. Barton sold 4,335 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $257.00, for a total transaction of $1,114,095.00. Following the completion of the transaction, the chief financial officer now directly owns 20,678 shares in the company, valued at approximately $5,314,246. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Tractor Supply news, CFO Kurt D. Barton sold 4,335 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $257.00, for a total transaction of $1,114,095.00. Following the sale, the chief financial officer now directly owns 20,678 shares of the company’s stock, valued at approximately $5,314,246. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Harry A. Lawton III sold 20,500 shares of the firm’s stock in a transaction dated 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 in the company, valued at $22,173,072.56. The disclosure for this sale can be found here. In the last three months, insiders sold 90,090 shares of company stock worth $21,201,877. 0.24% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Truist Financial upped their price target on shares of Tractor Supply from $256.00 to $277.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Stephens downgraded shares of Tractor Supply from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $226.00 to $240.00 in a research report on Tuesday, January 23rd. The Goldman Sachs Group upped 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. Barclays upped their price objective on shares of Tractor Supply from $192.00 to $234.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, Wells Fargo & Company upped their price objective on shares of Tractor Supply from $250.00 to $285.00 and gave the stock an “overweight” rating in a research report on Monday, March 25th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $241.65.

Tractor Supply Price Performance

NASDAQ:TSCO traded up $5.44 during mid-day trading on Friday, hitting $252.79. 1,284,767 shares of the company’s stock traded hands, compared to its average volume of 1,153,565. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.28 and a current ratio of 1.50. The firm’s 50 day simple moving average is $249.54 and its 200 day simple moving average is $224.28. Tractor Supply has a 1 year low of $185.00 and a 1 year high of $268.02. The company has a market cap of $27.28 billion, a PE ratio of 25.05, a price-to-earnings-growth ratio of 3.72 and a beta of 0.84.

Tractor Supply (NASDAQ:TSCO) last posted its earnings results on Thursday, February 1st. The specialty retailer reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.06. Tractor Supply had a net margin of 7.61% and a return on equity of 53.60%. The firm had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.67 billion. During the same period last year, the firm posted $2.43 EPS. The firm’s revenue for the quarter was down 8.6% on a year-over-year basis. Sell-side analysts expect that Tractor Supply will post 10.19 EPS for the current year.

Tractor Supply Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders 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 1.74%. The ex-dividend date of this dividend was Friday, February 23rd. Tractor Supply’s dividend payout ratio (DPR) is 43.61%.

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.