Congress Asset Management Co. Purchases 47,372 Shares of Tractor Supply Company $TSCO

Congress Asset Management Co. boosted its position in Tractor Supply Company (NASDAQ:TSCO) by 4.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,126,558 shares of the specialty retailer’s stock after buying an additional 47,372 shares during the quarter. Congress Asset Management Co. owned approximately 0.21% of Tractor Supply worth $56,339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of TSCO. Delos Wealth Advisors LLC bought a new stake in shares of Tractor Supply in the 2nd quarter worth approximately $26,000. JPL Wealth Management LLC bought a new position in shares of Tractor Supply during the 3rd quarter valued at $28,000. Aventura Private Wealth LLC bought a new position in shares of Tractor Supply during the 4th quarter valued at $27,000. Clayton Financial Group LLC purchased a new position in Tractor Supply in the 3rd quarter worth $44,000. Finally, First Horizon Corp bought a new stake in Tractor Supply in the third quarter worth $44,000. 98.72% of the stock is currently owned by institutional investors.

Insider Activity at Tractor Supply

In other news, EVP Colin Yankee sold 11,170 shares of the firm’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $55.35, for a total value of $618,259.50. Following the completion of the sale, the executive vice president directly owned 45,515 shares of the company’s stock, valued at approximately $2,519,255.25. This trade represents a 19.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Kurt D. Barton sold 1,929 shares of the business’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $53.94, for a total transaction of $104,050.26. Following the transaction, the chief financial officer owned 44,736 shares in the company, valued at $2,413,059.84. This represents a 4.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 222,348 shares of company stock valued at $11,959,621 over the last 90 days. Company insiders own 0.65% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on TSCO. Citigroup restated a “buy” rating and set a $61.00 price target (down from $66.00) on shares of Tractor Supply in a research report on Friday, January 16th. Gordon Haskett lowered Tractor Supply from an “accumulate” rating to a “hold” rating and lowered their target price for the company from $57.00 to $50.00 in a research note on Thursday, January 8th. Evercore restated an “outperform” rating and set a $60.00 target price on shares of Tractor Supply in a report on Friday, January 30th. Piper Sandler decreased their price target on Tractor Supply from $67.00 to $59.00 and set an “overweight” rating on the stock in a research note on Friday, January 30th. Finally, Telsey Advisory Group lowered their price objective on Tractor Supply from $70.00 to $63.00 and set an “outperform” rating for the company in a research report on Thursday, January 29th. Fifteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Tractor Supply presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.78.

Tractor Supply Stock Performance

Tractor Supply stock opened at $45.67 on Tuesday. The company has a current ratio of 1.34, a quick ratio of 0.16 and a debt-to-equity ratio of 0.70. The firm has a market cap of $24.04 billion, a P/E ratio of 22.06, a P/E/G ratio of 2.29 and a beta of 0.72. Tractor Supply Company has a 1-year low of $45.45 and a 1-year high of $63.99. The firm has a 50-day moving average of $51.76 and a 200-day moving average of $53.53.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Thursday, January 29th. The specialty retailer reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.03). The business had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $4.03 billion. Tractor Supply had a net margin of 7.06% and a return on equity of 44.36%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.44 EPS. Sell-side analysts expect that Tractor Supply Company will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. This is a boost from Tractor Supply’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Tuesday, February 24th. Tractor Supply’s payout ratio is presently 46.38%.

Tractor Supply Profile

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.