Tractor Supply Company $TSCO Shares Bought by Montrusco Bolton Investments Inc.

Montrusco Bolton Investments Inc. lifted its position in shares of Tractor Supply Company (NASDAQ:TSCO) by 7.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,000,530 shares of the specialty retailer’s stock after purchasing an additional 69,498 shares during the period. Tractor Supply comprises approximately 0.7% of Montrusco Bolton Investments Inc.’s portfolio, making the stock its 28th largest position. Montrusco Bolton Investments Inc.’s holdings in Tractor Supply were worth $56,900,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Delos Wealth Advisors LLC acquired a new stake in Tractor Supply in the second quarter valued at $26,000. Financial Gravity Companies Inc. purchased a new position in shares of Tractor Supply in the 2nd quarter valued at about $38,000. Clayton Financial Group LLC acquired a new stake in shares of Tractor Supply during the 3rd quarter worth about $44,000. First Horizon Corp purchased a new stake in Tractor Supply during the third quarter worth approximately $44,000. Finally, Evelyn Partners Asset Management Ltd acquired a new position in Tractor Supply in the second quarter valued at approximately $46,000. Institutional investors and hedge funds own 98.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TSCO. The Goldman Sachs Group set a $59.00 price objective on shares of Tractor Supply and gave the stock a “buy” rating in a research report on Friday, January 30th. Citigroup reissued a “buy” rating and issued a $61.00 price target (down from $66.00) on shares of Tractor Supply in a research report on Friday, January 16th. Truist Financial set a $55.00 price objective on shares of Tractor Supply and gave the company a “hold” rating in a research note on Friday, January 16th. Argus cut their target price on Tractor Supply from $67.00 to $64.00 and set a “buy” rating on the stock in a research report on Monday, February 2nd. Finally, Zacks Research cut Tractor Supply from a “hold” rating to a “strong sell” rating in a research report on Monday, February 2nd. Fifteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $59.78.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, EVP Robert D. Mills sold 62,950 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $54.12, for a total transaction of $3,406,854.00. Following the transaction, the executive vice president owned 122,834 shares in the company, valued at approximately $6,647,776.08. The trade was a 33.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Harry A. Lawton III sold 84,670 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $53.16, for a total value of $4,501,057.20. Following the completion of the sale, the chief executive officer directly owned 606,842 shares of the company’s stock, valued at $32,259,720.72. This represents a 12.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 222,348 shares of company stock valued at $11,959,621. Insiders own 0.65% of the company’s stock.

Tractor Supply Stock Performance

NASDAQ TSCO opened at $51.77 on Thursday. The firm has a market cap of $27.25 billion, a P/E ratio of 25.01, a P/E/G ratio of 2.67 and a beta of 0.74. Tractor Supply Company has a 52-week low of $46.85 and a 52-week high of $63.99. The business’s 50-day moving average price is $52.41 and its 200 day moving average price is $55.09. The company has a quick ratio of 0.16, a current ratio of 1.34 and a debt-to-equity ratio of 0.70.

Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Thursday, January 29th. The specialty retailer reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.03). Tractor Supply had a net margin of 7.06% and a return on equity of 44.36%. The company had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter last year, the business posted $0.44 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities research analysts expect that Tractor Supply Company will post 2.17 earnings per share for the current year.

Tractor Supply Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, February 24th. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 1.9%. Tractor Supply’s payout ratio is presently 46.38%.

About Tractor Supply

Tractor Supply Company (NASDAQ: TSCO) is a specialty retailer focused on products for the home, farm, ranch and outdoors. The company operates a network of physical retail locations complemented by an e-commerce platform, offering a one-stop source of supplies and equipment for customers with rural and suburban lifestyles. Its merchandise assortment targets a range of needs, from animal and livestock care to maintenance, outdoor power equipment, and seasonal products.

Product categories include animal feed and supplies, pet products, fencing and fencing supplies, equine equipment, lawn and garden tools, work clothing and footwear, and small agricultural and outdoor power equipment.