Tractor Supply (NASDAQ:TSCO) Shares Acquired by Sheets Smith Wealth Management

Sheets Smith Wealth Management grew its stake in shares of Tractor Supply (NASDAQ:TSCO) by 0.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,088 shares of the specialty retailer’s stock after buying an additional 200 shares during the quarter. Tractor Supply comprises 1.3% of Sheets Smith Wealth Management’s holdings, making the stock its 16th biggest position. Sheets Smith Wealth Management’s holdings in Tractor Supply were worth $10,770,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings 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 worth $573,038,000 after acquiring an additional 2,792,352 shares in the last quarter. Invesco Ltd. lifted its stake 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 buying an additional 878,874 shares during the period. Alecta Tjanstepension Omsesidigt increased 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 valued at $161,272,000 after purchasing an additional 350,000 shares during the period. International Assets Investment Management LLC raised its stake in shares of Tractor Supply by 32,987.5% in the 4th quarter. International Assets Investment Management LLC now owns 270,325 shares of the specialty retailer’s stock valued at $58,128,000 after buying an additional 269,508 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of Tractor Supply by 22.4% in 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 purchasing an additional 210,131 shares during the period. Institutional investors own 98.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Benchmark restated a “buy” rating and issued a $256.00 target price on shares of Tractor Supply in a research note on Monday, April 22nd. Stephens downgraded Tractor Supply from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $226.00 to $240.00 in a report on Tuesday, January 23rd. Wedbush reiterated a “neutral” rating and issued a $235.00 price objective on shares of Tractor Supply in a report on Tuesday, April 23rd. Mizuho reiterated a “neutral” rating and set a $250.00 target price (up from $245.00) on shares of Tractor Supply in a report on Friday, April 26th. Finally, Robert W. Baird increased their price objective on shares of Tractor Supply from $260.00 to $285.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $253.54.

Tractor Supply Price Performance

Shares of NASDAQ TSCO traded up $3.51 during trading hours on Friday, hitting $270.21. 1,135,143 shares of the stock were exchanged, compared to its average volume of 1,174,176. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.19 and a current ratio of 1.40. Tractor Supply has a 1-year low of $185.00 and a 1-year high of $279.38. The company has a market cap of $29.16 billion, a PE ratio of 26.31, a price-to-earnings-growth ratio of 3.41 and a beta of 0.82. The company’s fifty day simple moving average is $255.80 and its two-hundred day simple moving average is $229.15.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $3.40 billion. During the same period in the prior year, the business earned $1.65 earnings per share. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, sell-side analysts predict that Tractor Supply will post 10.3 EPS for the current year.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend 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%.

Insider Buying and Selling

In related news, CFO Kurt D. Barton sold 401 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $232.06, for a total transaction 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Kurt D. Barton sold 401 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 25,013 shares in the company, valued at approximately $5,804,516.78. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Matthew L. Rubin sold 725 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $238.09, for a total value of $172,615.25. Following the transaction, the senior vice president now directly owns 5,710 shares in the company, valued at $1,359,493.90. The disclosure for this sale can be found here. Insiders have sold a total of 90,090 shares of company stock valued at $21,201,877 over the last 90 days. 0.24% of the stock is owned by 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.