Welch & Forbes LLC Purchases 7,496 Shares of Tractor Supply (NASDAQ:TSCO)

Welch & Forbes LLC lifted its position in Tractor Supply (NASDAQ:TSCO) by 9.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 88,594 shares of the specialty retailer’s stock after purchasing an additional 7,496 shares during the quarter. Welch & Forbes LLC’s holdings in Tractor Supply were worth $19,050,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. WCM Investment Management LLC bought a new position in shares of Tractor Supply in the 4th quarter worth $782,000. Todd Asset Management LLC bought a new position in Tractor Supply in the fourth quarter valued at $21,571,000. LPL Financial LLC raised its position in Tractor Supply by 4.6% during the third quarter. LPL Financial LLC now owns 113,873 shares of the specialty retailer’s stock valued at $23,122,000 after purchasing an additional 5,014 shares in the last quarter. Impax Asset Management Group plc raised its position in Tractor Supply by 2,120.1% during the fourth quarter. Impax Asset Management Group plc now owns 121,817 shares of the specialty retailer’s stock valued at $26,194,000 after purchasing an additional 116,330 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake 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 during the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Trading Down 0.2 %

TSCO stock traded down $0.67 during trading on Monday, reaching $269.54. The company had a trading volume of 681,669 shares, compared to its average volume of 1,167,594. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.40 and a quick ratio of 0.19. Tractor Supply has a 52 week low of $185.00 and a 52 week high of $279.38. The business has a 50 day moving average of $255.80 and a 200 day moving average of $229.30. The company has a market cap of $29.09 billion, a P/E ratio of 26.31, a PEG ratio of 3.41 and a beta of 0.82.

Tractor Supply (NASDAQ:TSCO) last announced its 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 return on equity of 52.99% and a net margin of 7.66%. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.40 billion. During the same quarter in the prior year, the company earned $1.65 EPS. The business’s revenue was up 2.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Tractor Supply will post 10.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Tractor Supply

In related news, CEO Harry A. Lawton III sold 20,500 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 95,192 shares of the company’s stock, valued at $22,173,072.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Harry A. Lawton III sold 20,500 shares of the firm’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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kurt D. Barton sold 401 shares of the business’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 sale, the chief financial officer now directly owns 25,013 shares in the company, valued at $5,804,516.78. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 90,090 shares of company stock valued at $21,201,877. 0.24% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Stephens cut Tractor Supply from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $226.00 to $240.00 in a report on Tuesday, January 23rd. Truist Financial boosted their price objective on shares of Tractor Supply from $277.00 to $289.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Mizuho reaffirmed a “neutral” rating and set a $250.00 target price (up previously from $245.00) on shares of Tractor Supply in a report on Friday, April 26th. Wedbush reissued a “neutral” rating and issued a $235.00 price target on shares of Tractor Supply in a research note on Tuesday, April 23rd. Finally, Benchmark reaffirmed a “buy” rating and set a $256.00 price objective on shares of Tractor Supply in a research note on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $253.54.

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.