Tractor Supply (NASDAQ:TSCO) Shares Bought by Balentine LLC

Posted by Defense World Staff on Apr 16th, 2023

Balentine LLC raised its stake in Tractor Supply (NASDAQ:TSCO – Get Rating) by 34.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,149 shares of the specialty retailer’s stock after purchasing an additional 555 shares during the quarter. Balentine LLC’s holdings in Tractor Supply were worth $484,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Waterfront Wealth Inc. boosted its holdings in shares of Tractor Supply by 5.3% in the 4th quarter. Waterfront Wealth Inc. now owns 3,177 shares of the specialty retailer’s stock valued at $717,000 after purchasing an additional 159 shares during the last quarter. Moloney Securities Asset Management LLC acquired a new position in shares of Tractor Supply during the 4th quarter valued at $247,000. Berger Financial Group Inc lifted its holdings in shares of Tractor Supply by 4.5% during the 4th quarter. Berger Financial Group Inc now owns 20,865 shares of the specialty retailer’s stock valued at $4,694,000 after acquiring an additional 903 shares in the last quarter. Simon Quick Advisors LLC acquired a new position in shares of Tractor Supply during the 4th quarter valued at $271,000. Finally, Signaturefd LLC lifted its holdings in shares of Tractor Supply by 103.4% during the 4th quarter. Signaturefd LLC now owns 2,754 shares of the specialty retailer’s stock valued at $620,000 after acquiring an additional 1,400 shares in the last quarter. Institutional investors and hedge funds own 84.13% of the company’s stock.

Tractor Supply Price Performance

TSCO opened at $237.95 on Friday. The company has a 50-day moving average of $233.00 and a 200-day moving average of $220.71. The company has a market capitalization of $26.15 billion, a P/E ratio of 24.51, a PEG ratio of 2.35 and a beta of 0.82. Tractor Supply has a 1-year low of $166.49 and a 1-year high of $242.27. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.19 and a current ratio of 1.33.

Tractor Supply (NASDAQ:TSCO – Get Rating) last announced its quarterly earnings data on Thursday, January 26th. The specialty retailer reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.35 by $0.08. Tractor Supply had a net margin of 7.66% and a return on equity of 56.65%. The business had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $3.88 billion. During the same quarter in the prior year, the firm earned $1.93 EPS. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. Equities analysts expect that Tractor Supply will post 10.46 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 14th. Investors of record on Monday, February 27th were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date was Friday, February 24th. This is an increase from Tractor Supply’s previous quarterly dividend of $0.92. Tractor Supply’s dividend payout ratio is currently 42.43%.

Analyst Upgrades and Downgrades

TSCO has been the topic of several recent research reports. MKM Partners lifted their target price on shares of Tractor Supply from $230.00 to $255.00 and gave the company a “buy” rating in a report on Thursday, January 19th. DA Davidson lifted their target price on shares of Tractor Supply from $215.00 to $219.00 and gave the company a “neutral” rating in a report on Monday, January 23rd. BNP Paribas upgraded shares of Tractor Supply from a “neutral” rating to an “outperform” rating in a report on Thursday, January 12th. Roth Capital restated a “buy” rating on shares of Tractor Supply in a report on Wednesday, February 1st. Finally, Raymond James lifted their target price on shares of Tractor Supply from $235.00 to $255.00 and gave the company a “strong-buy” rating in a report on Friday, January 27th. Eight analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $246.81.

Insider Activity at Tractor Supply

In related news, EVP Colin Yankee sold 653 shares of the business’s stock in a transaction dated Wednesday, February 8th. The shares were sold at an average price of $231.92, for a total transaction of $151,443.76. Following the completion of the sale, the executive vice president now owns 13,536 shares of the company’s stock, valued at approximately $3,139,269.12. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Tractor Supply news, EVP Colin Yankee sold 653 shares of the business’s stock in a transaction dated Wednesday, February 8th. The shares were sold at an average price of $231.92, for a total transaction of $151,443.76. Following the completion of the transaction, the executive vice president now directly owns 13,536 shares of the company’s stock, valued at approximately $3,139,269.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Harry A. Lawton III sold 20,067 shares of the business’s stock in a transaction dated Thursday, February 9th. The shares were sold at an average price of $231.21, for a total transaction of $4,639,691.07. Following the transaction, the chief executive officer now directly owns 84,734 shares of the company’s stock, valued at $19,591,348.14. The disclosure for this sale can be found here. Insiders sold a total of 38,091 shares of company stock valued at $8,840,560 in the last quarter. Insiders own 0.24% of the company’s stock.

About Tractor Supply

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Tractor Supply Co engages in the retail sale of farm and ranch products. It operates retail farm & ranch stores and focuses on supplying the lifestyle needs of recreational farmers and ranchers, as well as tradesmen and small businesses. The firm operates the retail stores under the names: Tractor Supply Company, Orscheln Farm & Home, and Petsense.