Naples Money Management LLC Invests $2.73 Million in Tractor Supply (NASDAQ:TSCO)

Naples Money Management LLC bought a new position in shares of Tractor Supply (NASDAQ:TSCO) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 12,671 shares of the specialty retailer’s stock, valued at approximately $2,725,000. Tractor Supply accounts for 2.6% of Naples Money Management LLC’s investment portfolio, making the stock its 10th largest position.

Other institutional investors also recently modified their holdings of the company. Pacific Center for Financial Services purchased a new stake in shares of Tractor Supply during the first quarter worth about $26,000. Compass Wealth Management LLC purchased a new stake in shares of Tractor Supply during the fourth quarter worth about $25,000. OFI Invest Asset Management purchased a new stake in shares of Tractor Supply during the third quarter worth about $25,000. Pinnacle Bancorp Inc. purchased a new stake in Tractor Supply in the fourth quarter worth about $28,000. Finally, VisionPoint Advisory Group LLC lifted its holdings in Tractor Supply by 105.6% in the third quarter. VisionPoint Advisory Group LLC now owns 148 shares of the specialty retailer’s stock worth $30,000 after buying an additional 76 shares during the period. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Tractor Supply Stock Performance

Shares of NASDAQ:TSCO traded up $5.44 during midday trading on Friday, reaching $252.79. The company’s stock had a trading volume of 1,284,767 shares, compared to its average volume of 1,153,565. The firm has a market capitalization of $27.28 billion, a PE ratio of 25.05, a P/E/G ratio of 3.72 and a beta of 0.84. Tractor Supply has a twelve month low of $185.00 and a twelve month high of $268.02. The stock has a fifty day moving average of $249.54 and a 200 day moving average of $224.28. The company has a quick ratio of 0.28, a current ratio of 1.50 and a debt-to-equity ratio of 0.82.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, February 1st. The specialty retailer reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.06. The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.67 billion. Tractor Supply had a net margin of 7.61% and a return on equity of 53.60%. The business’s quarterly revenue was down 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.43 earnings per share. On average, equities analysts expect that Tractor Supply will post 10.19 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend was Friday, February 23rd. This is a positive change from Tractor Supply’s previous quarterly dividend of $1.03. Tractor Supply’s dividend payout ratio (DPR) is currently 43.61%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Wells Fargo & Company raised their price objective on shares of Tractor Supply from $250.00 to $285.00 and gave the stock an “overweight” rating in a report on Monday, March 25th. Guggenheim raised their price objective on shares of Tractor Supply from $210.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Morgan Stanley reiterated an “underweight” rating and set a $195.00 target price on shares of Tractor Supply in a report on Tuesday, January 16th. Barclays lifted their target price on shares of Tractor Supply from $192.00 to $234.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, Wedbush lifted their target price on shares of Tractor Supply from $200.00 to $235.00 and gave the company a “neutral” rating in a report on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $241.65.

Insider Activity at Tractor Supply

In related news, EVP Robert D. Mills sold 48,334 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $232.23, for a total transaction of $11,224,604.82. Following the sale, the executive vice president now owns 22,167 shares in the company, valued at $5,147,842.41. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP Robert D. Mills sold 48,334 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $232.23, for a total transaction of $11,224,604.82. Following the sale, the executive vice president now owns 22,167 shares in the company, valued at $5,147,842.41. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Kurt D. Barton sold 401 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $232.06, for a total transaction of $93,056.06. Following the sale, the chief financial officer now owns 25,013 shares in the company, valued at approximately $5,804,516.78. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 90,090 shares of company stock worth $21,201,877. 0.24% of the stock is owned by company 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.