Sound View Wealth Advisors Group LLC Has $497,000 Stake in Tractor Supply (NASDAQ:TSCO)

Sound View Wealth Advisors Group LLC raised its holdings in Tractor Supply (NASDAQ:TSCO) by 401.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,359 shares of the specialty retailer’s stock after purchasing an additional 7,493 shares during the period. Sound View Wealth Advisors Group LLC’s holdings in Tractor Supply were worth $497,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Baldwin Investment Management LLC increased its position in shares of Tractor Supply by 0.3% during the third quarter. Baldwin Investment Management LLC now owns 11,402 shares of the specialty retailer’s stock worth $3,317,000 after buying an additional 38 shares during the period. Huntington National Bank boosted its position in Tractor Supply by 0.7% during the third quarter. Huntington National Bank now owns 5,538 shares of the specialty retailer’s stock valued at $1,611,000 after acquiring an additional 41 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in Tractor Supply by 13.2% during the 3rd quarter. First Horizon Advisors Inc. now owns 351 shares of the specialty retailer’s stock worth $102,000 after acquiring an additional 41 shares during the period. Harbour Investments Inc. raised its position in shares of Tractor Supply by 4.6% in the 3rd quarter. Harbour Investments Inc. now owns 958 shares of the specialty retailer’s stock worth $279,000 after acquiring an additional 42 shares in the last quarter. Finally, Cynosure Group LLC lifted its stake in shares of Tractor Supply by 2.8% in the 3rd quarter. Cynosure Group LLC now owns 1,529 shares of the specialty retailer’s stock valued at $445,000 after purchasing an additional 42 shares during the period. Institutional investors and hedge funds own 98.72% of the company’s stock.

Insider Activity

In other Tractor Supply news, EVP Colin Yankee sold 24,602 shares of Tractor Supply stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $54.15, for a total value of $1,332,198.30. Following the sale, the executive vice president now owns 33,645 shares of the company’s stock, valued at approximately $1,821,876.75. The trade was a 42.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Matthew L. Rubin sold 3,850 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total transaction of $222,106.50. Following the transaction, the senior vice president now directly owns 31,787 shares of the company’s stock, valued at $1,833,792.03. This represents a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 137,993 shares of company stock valued at $7,538,068 over the last three months. Corporate insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on TSCO shares. Wells Fargo & Company decreased their target price on Tractor Supply from $65.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Truist Financial reduced their price objective on shares of Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Mizuho lifted their price objective on shares of Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Bank of America increased their target price on shares of Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a research note on Thursday, January 16th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $59.22.

Tractor Supply Trading Up 4.2 %

NASDAQ TSCO opened at $56.89 on Monday. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. The business has a fifty day simple moving average of $55.11 and a 200 day simple moving average of $55.76. Tractor Supply has a 12 month low of $48.30 and a 12 month high of $61.53. The firm has a market capitalization of $30.38 billion, a P/E ratio of 27.89, a PEG ratio of 2.95 and a beta of 0.85.

Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Thursday, January 30th. The specialty retailer reported $0.44 EPS for the quarter, missing the consensus estimate of $2.28 by ($1.84). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. On average, analysts predict that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply declared that its Board of Directors has authorized a stock repurchase plan on Thursday, February 13th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the specialty retailer to purchase up to 3.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Tractor Supply Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th will be paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 6.47%. The ex-dividend date is Wednesday, February 26th. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s payout ratio is presently 45.10%.

Tractor Supply Company 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.