Sheets Smith Wealth Management Grows Stake in Tractor Supply (NASDAQ:TSCO)

Sheets Smith Wealth Management boosted its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 0.4% during the 4th quarter, Holdings Channel reports. The firm owned 50,088 shares of the specialty retailer’s stock after buying an additional 200 shares during the period. Tractor Supply comprises about 1.3% of Sheets Smith Wealth Management’s portfolio, making the stock its 16th biggest holding. Sheets Smith Wealth Management’s holdings in Tractor Supply were worth $10,770,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in TSCO. Citizens National Bank Trust Department boosted its holdings in shares of Tractor Supply by 0.5% in the 4th quarter. Citizens National Bank Trust Department now owns 9,700 shares of the specialty retailer’s stock valued at $2,086,000 after acquiring an additional 45 shares during the last quarter. Allen Capital Group LLC grew its position in Tractor Supply by 0.6% during the 3rd quarter. Allen Capital Group LLC now owns 8,869 shares of the specialty retailer’s stock worth $1,805,000 after purchasing an additional 53 shares during the period. Fidelis Capital Partners LLC raised its stake in shares of Tractor Supply by 5.0% during the 4th quarter. Fidelis Capital Partners LLC now owns 1,116 shares of the specialty retailer’s stock valued at $240,000 after buying an additional 53 shares during the last quarter. Scotia Capital Inc. lifted its holdings in shares of Tractor Supply by 2.5% in the 3rd quarter. Scotia Capital Inc. now owns 2,177 shares of the specialty retailer’s stock valued at $442,000 after buying an additional 54 shares during the period. Finally, Taylor Frigon Capital Management LLC boosted its stake in shares of Tractor Supply by 0.8% in the third quarter. Taylor Frigon Capital Management LLC now owns 6,762 shares of the specialty retailer’s stock worth $1,373,000 after buying an additional 55 shares during the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

Tractor Supply Trading Up 1.3 %

Shares of TSCO traded up $3.51 during trading on Friday, reaching $270.21. 1,135,143 shares of the company traded hands, compared to its average volume of 1,174,176. The stock has a 50-day simple moving average of $255.80 and a 200-day simple moving average of $229.15. The stock 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. Tractor Supply has a twelve month low of $185.00 and a twelve month high of $279.38. The company has a quick ratio of 0.19, a current ratio of 1.40 and a debt-to-equity ratio of 0.83.

Tractor Supply (NASDAQ:TSCO) last released its earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share for the quarter, beating the consensus estimate 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%. Tractor Supply’s revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.65 EPS. On average, analysts anticipate that Tractor Supply will post 10.3 earnings per share for the current year.

Tractor Supply Increases Dividend

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

Wall Street Analysts Forecast Growth

TSCO has been the subject of several analyst reports. Mizuho reiterated a “neutral” rating and issued a $250.00 target price (up from $245.00) on shares of Tractor Supply in a research note on Friday, April 26th. Morgan Stanley boosted their price objective on Tractor Supply from $195.00 to $235.00 and gave the company an “underweight” rating in a research report on Friday, April 26th. Piper Sandler lifted their price target on shares of Tractor Supply from $265.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Robert W. Baird boosted their target price on shares of Tractor Supply from $260.00 to $285.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Finally, Wells Fargo & Company raised their price target on shares of Tractor Supply from $250.00 to $285.00 and gave the company an “overweight” rating in a research note on Monday, March 25th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $253.54.

Insider Activity

In related news, 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 transaction of $93,056.06. Following the completion of the transaction, the chief financial officer now directly owns 25,013 shares of the company’s stock, valued at approximately $5,804,516.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Kurt D. Barton sold 401 shares of Tractor Supply stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $232.06, for a total transaction of $93,056.06. Following the completion of the sale, the chief financial officer now directly owns 25,013 shares of the company’s stock, valued at approximately $5,804,516.78. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Colin Yankee sold 8,675 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $250.00, for a total value of $2,168,750.00. Following the completion of the transaction, the executive vice president now directly owns 9,673 shares in the company, valued at approximately $2,418,250. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,090 shares of company stock worth $21,201,877. Corporate insiders own 0.24% of the company’s stock.

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.