Mindset Wealth Management LLC Raises Holdings in Tractor Supply (NASDAQ:TSCO)

Mindset Wealth Management LLC boosted its stake in shares of Tractor Supply (NASDAQ:TSCO) by 328.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,800 shares of the specialty retailer’s stock after purchasing an additional 6,747 shares during the quarter. Mindset Wealth Management LLC’s holdings in Tractor Supply were worth $467,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Providence Capital Advisors LLC purchased a new stake in Tractor Supply during the 3rd quarter worth about $32,000. Larson Financial Group LLC boosted its position in shares of Tractor Supply by 29.4% in the 3rd quarter. Larson Financial Group LLC now owns 286 shares of the specialty retailer’s stock valued at $83,000 after purchasing an additional 65 shares during the period. First Horizon Advisors Inc. boosted its position in shares of Tractor Supply by 13.2% in the 3rd quarter. First Horizon Advisors Inc. now owns 351 shares of the specialty retailer’s stock valued at $102,000 after purchasing an additional 41 shares during the period. Icon Wealth Advisors LLC acquired a new stake in shares of Tractor Supply in the 3rd quarter valued at about $111,000. Finally, Glen Eagle Advisors LLC boosted its position in shares of Tractor Supply by 75.8% in the 3rd quarter. Glen Eagle Advisors LLC now owns 464 shares of the specialty retailer’s stock valued at $135,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Price Performance

Shares of NASDAQ TSCO opened at $51.84 on Friday. Tractor Supply has a 1-year low of $48.30 and a 1-year high of $61.53. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. The business’s fifty day moving average price is $55.07 and its two-hundred day moving average price is $55.67. The firm has a market capitalization of $27.68 billion, a PE ratio of 25.41, a P/E/G ratio of 2.95 and a beta of 0.85.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 EPS for the quarter, missing analysts’ consensus estimates 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, research analysts expect that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply declared that its board has authorized a stock buyback plan on Thursday, February 13th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to reacquire up to 3.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Tractor Supply Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were paid a dividend of $0.92 per share. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 annualized dividend and a yield of 7.10%. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio (DPR) is currently 45.10%.

Insider Activity at Tractor Supply

In related news, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $54.59, for a total value of $4,809,106.05. Following the transaction, the chief executive officer now owns 488,852 shares of the company’s stock, valued at approximately $26,686,430.68. This trade represents a 15.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Melissa Kersey sold 9,300 shares of Tractor Supply stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $53.17, for a total value of $494,481.00. Following the transaction, the executive vice president now directly owns 34,961 shares in the company, valued at approximately $1,858,876.37. This trade represents a 21.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 137,993 shares of company stock valued at $7,538,068 over the last 90 days. 0.24% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Bank of America upped their target price on Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a research report on Thursday, January 16th. Barclays decreased their price objective on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a research report on Monday, December 30th. Mizuho increased their price objective on Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. increased their price objective on Tractor Supply from $58.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Finally, Loop Capital raised their price target on Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $59.22.

Tractor Supply 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.