SouthState Corp Increases Position in Tractor Supply (NASDAQ:TSCO)

SouthState Corp raised its position in shares of Tractor Supply (NASDAQ:TSCO) by 45.6% during the third quarter, HoldingsChannel reports. The firm owned 3,533 shares of the specialty retailer’s stock after purchasing an additional 1,106 shares during the period. SouthState Corp’s holdings in Tractor Supply were worth $1,028,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TSCO. LRI Investments LLC bought a new position in shares of Tractor Supply during the 1st quarter valued at about $28,000. Future Financial Wealth Managment LLC bought a new position in Tractor Supply during the third quarter valued at approximately $29,000. First Personal Financial Services bought a new position in Tractor Supply during the third quarter valued at approximately $29,000. Whittier Trust Co. raised its stake in shares of Tractor Supply by 60.9% during the second quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock worth $30,000 after acquiring an additional 42 shares in the last quarter. Finally, OFI Invest Asset Management bought a new stake in shares of Tractor Supply in the 2nd quarter worth approximately $33,000. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Insider Activity at Tractor Supply

In related news, CFO Kurt D. Barton sold 23,532 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total transaction of $6,957,000.48. Following the completion of the transaction, the chief financial officer now owns 9,683 shares of the company’s stock, valued at $2,862,682.12. This trade represents a 70.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.58% of the stock is currently owned by corporate insiders.

Tractor Supply Price Performance

Shares of TSCO stock opened at $272.85 on Wednesday. The business’s fifty day moving average is $284.45 and its 200 day moving average is $275.44. The company has a quick ratio of 0.17, a current ratio of 1.48 and a debt-to-equity ratio of 0.81. The stock has a market cap of $29.15 billion, a price-to-earnings ratio of 26.54, a PEG ratio of 3.46 and a beta of 0.82. Tractor Supply has a twelve month low of $193.73 and a twelve month high of $307.64.

Tractor Supply Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be paid a $1.10 dividend. The ex-dividend date is Monday, November 25th. This represents a $4.40 annualized dividend and a dividend yield of 1.61%. Tractor Supply’s payout ratio is 42.80%.

Analyst Ratings Changes

A number of equities analysts recently commented on TSCO shares. DA Davidson lifted their target price on shares of Tractor Supply from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Mizuho lifted their price objective on Tractor Supply from $250.00 to $270.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Melius Research initiated coverage on Tractor Supply in a report on Monday, September 23rd. They set a “buy” rating and a $315.00 target price for the company. Wells Fargo & Company raised their price target on Tractor Supply from $295.00 to $325.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Finally, JPMorgan Chase & Co. boosted their price objective on Tractor Supply from $260.00 to $290.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Tractor Supply currently has a consensus rating of “Moderate Buy” and a consensus price target of $282.82.

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.