Meridian Wealth Management LLC Makes New Investment in Tractor Supply (NASDAQ:TSCO)

Meridian Wealth Management LLC purchased a new position in Tractor Supply (NASDAQ:TSCO) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 1,918 shares of the specialty retailer’s stock, valued at approximately $558,000.

Several other large investors have also recently made changes to their positions in TSCO. LRI Investments LLC acquired a new position in Tractor Supply during the 1st quarter valued at about $28,000. Future Financial Wealth Managment LLC acquired a new position in Tractor Supply during the 3rd quarter valued at about $29,000. First Personal Financial Services acquired a new position in Tractor Supply during the 3rd quarter valued at about $29,000. Whittier Trust Co. increased its position in Tractor Supply by 60.9% during the 2nd quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock valued at $30,000 after buying an additional 42 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new position in Tractor Supply during the 2nd quarter valued at about $33,000. 98.72% of the stock is owned by institutional investors.

Tractor Supply Price Performance

NASDAQ:TSCO opened at $281.71 on Monday. Tractor Supply has a one year low of $197.00 and a one year high of $307.64. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.17 and a current ratio of 1.48. The stock has a market cap of $30.10 billion, a PE ratio of 27.40, a P/E/G ratio of 3.53 and a beta of 0.82. The stock has a 50 day moving average price of $284.18 and a 200 day moving average price of $275.57.

Tractor Supply Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be issued a $1.10 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $4.40 annualized dividend and a dividend yield of 1.56%. Tractor Supply’s dividend payout ratio is presently 42.80%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TSCO. DA Davidson upped their target price on Tractor Supply from $300.00 to $325.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Evercore ISI raised Tractor Supply from a “hold” rating to a “strong-buy” rating in a report on Friday, November 15th. Mizuho upped their target price on Tractor Supply from $250.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Wedbush restated a “neutral” rating and issued a $270.00 target price on shares of Tractor Supply in a research note on Friday, October 25th. Finally, Benchmark increased their price target on Tractor Supply from $280.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Two investment 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $282.82.

Insider Activity at Tractor Supply

In other Tractor Supply news, CFO Kurt D. Barton sold 23,532 shares of the firm’s stock in a transaction 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.58% of the company’s stock.

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.