Axxcess Wealth Management LLC Boosts Stock Holdings in Tractor Supply (NASDAQ:TSCO)

Axxcess Wealth Management LLC grew its holdings in Tractor Supply (NASDAQ:TSCO) by 345.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,040 shares of the specialty retailer’s stock after acquiring an additional 28,718 shares during the period. Axxcess Wealth Management LLC’s holdings in Tractor Supply were worth $1,965,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. BOK Financial Private Wealth Inc. raised its stake in shares of Tractor Supply by 330.2% in the 4th quarter. BOK Financial Private Wealth Inc. now owns 21,355 shares of the specialty retailer’s stock valued at $1,133,000 after acquiring an additional 16,391 shares during the period. Blueshift Asset Management LLC grew its holdings in Tractor Supply by 32.7% during the 3rd quarter. Blueshift Asset Management LLC now owns 9,945 shares of the specialty retailer’s stock valued at $2,893,000 after purchasing an additional 2,452 shares in the last quarter. Callan Family Office LLC acquired a new stake in Tractor Supply during the 4th quarter valued at $503,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Tractor Supply by 379.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 890,898 shares of the specialty retailer’s stock valued at $47,271,000 after purchasing an additional 704,896 shares in the last quarter. Finally, Citizens Financial Group Inc. RI grew its holdings in Tractor Supply by 368.7% during the 4th quarter. Citizens Financial Group Inc. RI now owns 7,485 shares of the specialty retailer’s stock valued at $397,000 after purchasing an additional 5,888 shares in the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Truist Financial lowered their price target on shares of Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a report on Friday, January 31st. Loop Capital raised their price target on shares of Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a report on Thursday, December 12th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $67.00 price target on shares of Tractor Supply in a report on Thursday, January 30th. Barclays lowered their price target on shares of Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a report on Monday, December 30th. Finally, Wells Fargo & Company decreased their price objective on shares of Tractor Supply from $65.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Two 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 company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.22.

Tractor Supply Stock Up 0.3 %

Shares of TSCO stock opened at $52.80 on Thursday. Tractor Supply has a 1 year low of $48.30 and a 1 year high of $61.53. The stock has a market cap of $28.20 billion, a PE ratio of 25.88, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. The business’s fifty day moving average is $55.12 and its 200-day moving average is $55.70. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share (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%. Equities analysts expect that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 6.97%. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, February 26th. Tractor Supply’s payout ratio is presently 45.10%.

Tractor Supply announced that its Board of Directors has approved a stock buyback program on Thursday, February 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the specialty retailer to buy up to 3.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $57.69, for a total value of $222,106.50. Following the transaction, the senior vice president now directly owns 31,787 shares in the company, valued at $1,833,792.03. The trade was a 10.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Melissa Kersey sold 9,300 shares of Tractor Supply stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $53.17, for a total value of $494,481.00. Following the completion of the transaction, the executive vice president now owns 34,961 shares in the company, valued at $1,858,876.37. The trade was a 21.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,993 shares of company stock worth $7,538,068 in the last three months. 0.24% of the stock is currently owned by insiders.

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.