Provident Trust Co. Has $137.75 Million Holdings in Tractor Supply (NASDAQ:TSCO)

Provident Trust Co. raised its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 47.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 640,603 shares of the specialty retailer’s stock after buying an additional 204,695 shares during the quarter. Tractor Supply comprises 2.8% of Provident Trust Co.’s investment portfolio, making the stock its 15th largest holding. Provident Trust Co. owned approximately 0.59% of Tractor Supply worth $137,749,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Citizens National Bank Trust Department raised its stake in shares of Tractor Supply by 0.5% in the fourth quarter. Citizens National Bank Trust Department now owns 9,700 shares of the specialty retailer’s stock valued at $2,086,000 after purchasing an additional 45 shares in the last quarter. Allen Capital Group LLC raised its stake in shares of Tractor Supply by 0.6% in the third quarter. Allen Capital Group LLC now owns 8,869 shares of the specialty retailer’s stock valued at $1,805,000 after purchasing an additional 53 shares in the last quarter. Fidelis Capital Partners LLC raised its stake in shares of Tractor Supply by 5.0% in the fourth quarter. Fidelis Capital Partners LLC now owns 1,116 shares of the specialty retailer’s stock valued at $240,000 after purchasing an additional 53 shares in the last quarter. Scotia Capital Inc. raised its stake in shares of Tractor Supply by 2.5% in the third quarter. Scotia Capital Inc. now owns 2,177 shares of the specialty retailer’s stock valued at $442,000 after purchasing an additional 54 shares in the last quarter. Finally, Taylor Frigon Capital Management LLC raised its stake in shares of Tractor Supply by 0.8% in the third quarter. Taylor Frigon Capital Management LLC now owns 6,762 shares of the specialty retailer’s stock valued at $1,373,000 after purchasing an additional 55 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. The Goldman Sachs Group upped their target price on Tractor Supply from $230.00 to $262.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Guggenheim increased their price objective on Tractor Supply from $210.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Wells Fargo & Company increased their price objective on Tractor Supply from $250.00 to $285.00 and gave the stock an “overweight” rating in a research note on Monday, March 25th. Stephens lowered Tractor Supply from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $226.00 to $240.00 in a research note on Tuesday, January 23rd. Finally, Truist Financial increased their price objective on Tractor Supply from $277.00 to $289.00 and gave the stock a “buy” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Tractor Supply currently has a consensus rating of “Hold” and an average target price of $248.17.

Tractor Supply Trading Up 3.3 %

Tractor Supply stock traded up $8.64 during mid-day trading on Friday, hitting $273.90. The stock had a trading volume of 1,599,528 shares, compared to its average volume of 1,032,605. The stock has a 50-day simple moving average of $252.44 and a two-hundred day simple moving average of $226.59. The stock has a market capitalization of $29.56 billion, a PE ratio of 26.67, a P/E/G ratio of 3.97 and a beta of 0.84. Tractor Supply has a 12 month low of $185.00 and a 12 month high of $274.66. The company has a current ratio of 1.40, a quick ratio of 0.28 and a debt-to-equity ratio of 0.83.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.13. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. The business had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same quarter last year, the business earned $1.65 earnings per share. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Tractor Supply will post 10.23 EPS for the current year.

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were issued a dividend of $1.10 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $4.40 dividend on an annualized basis and a yield of 1.61%. This is a boost from Tractor Supply’s previous quarterly dividend of $1.03. Tractor Supply’s dividend payout ratio (DPR) is 42.84%.

Insiders Place Their Bets

In other Tractor Supply news, CFO Kurt D. Barton sold 401 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $232.06, for a total transaction of $93,056.06. Following the transaction, the chief financial officer now owns 25,013 shares in the company, valued at $5,804,516.78. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CFO Kurt D. Barton sold 4,335 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $257.00, for a total transaction of $1,114,095.00. Following the sale, the chief financial officer now owns 20,678 shares of the company’s stock, valued at $5,314,246. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Kurt D. Barton sold 401 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $232.06, for a total value of $93,056.06. Following the sale, the chief financial officer now directly 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. Insiders own 0.24% of the company’s stock.

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.