APG Asset Management N.V. Buys 345,200 Shares of Tractor Supply (NASDAQ:TSCO)

APG Asset Management N.V. raised its holdings in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 3,028.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 356,600 shares of the specialty retailer's stock after acquiring an additional 345,200 shares during the period. APG Asset Management N.V. owned approximately 0.07% of Tractor Supply worth $18,273,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Tractor Supply by 392.5% during the fourth quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer's stock worth $3,397,643,000 after purchasing an additional 51,031,178 shares during the period. Wellington Management Group LLP grew its position in shares of Tractor Supply by 401.8% during the 4th quarter. Wellington Management Group LLP now owns 23,789,249 shares of the specialty retailer's stock worth $1,262,258,000 after buying an additional 19,048,385 shares during the period. Alliancebernstein L.P. increased its stake in shares of Tractor Supply by 403.3% in the 4th quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer's stock valued at $1,180,932,000 after acquiring an additional 17,834,643 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Tractor Supply by 403.2% in the 4th quarter. Geode Capital Management LLC now owns 14,519,937 shares of the specialty retailer's stock valued at $768,838,000 after acquiring an additional 11,634,249 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Tractor Supply by 391.0% during the fourth quarter. JPMorgan Chase & Co. now owns 10,821,654 shares of the specialty retailer's stock valued at $574,197,000 after purchasing an additional 8,617,869 shares during the period. Institutional investors and hedge funds own 98.72% of the company's stock.

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Wall Street Analyst Weigh In

TSCO has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on Tractor Supply from $58.00 to $59.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Bank of America boosted their price objective on Tractor Supply from $44.00 to $53.00 and gave the company an "underperform" rating in a research report on Thursday, January 16th. Stephens began coverage on shares of Tractor Supply in a report on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 target price on the stock. Barclays reduced their price target on shares of Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating for the company in a report on Monday, December 30th. Finally, Guggenheim restated a "buy" rating and set a $60.00 price objective on shares of Tractor Supply in a report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $59.07.

Insider Buying and Selling at Tractor Supply

In related news, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $57.69, for a total transaction of $222,106.50. Following the completion of the sale, the senior vice president now owns 31,787 shares of the company's stock, valued at approximately $1,833,792.03. The trade was a 10.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Harry A. Lawton III sold 88,095 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $54.59, for a total transaction of $4,809,106.05. Following the completion of the transaction, the chief executive officer now directly owns 488,852 shares in the company, valued at approximately $26,686,430.68. This represents a 15.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 137,993 shares of company stock worth $7,538,068 over the last ninety days. Insiders own 0.24% of the company's stock.

Tractor Supply Stock Performance

Shares of TSCO stock traded down $0.74 on Tuesday, reaching $51.43. The stock had a trading volume of 1,095,018 shares, compared to its average volume of 5,108,592. Tractor Supply has a 12 month low of $46.97 and a 12 month high of $61.53. The firm has a market capitalization of $27.34 billion, a price-to-earnings ratio of 25.21, a P/E/G ratio of 2.95 and a beta of 0.88. The firm's 50-day moving average is $54.04 and its two-hundred day moving average is $55.31. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate 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 fiscal year.

Tractor Supply Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 7.16%. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. Tractor Supply's payout ratio is 45.10%.

Tractor Supply announced that its board has authorized a share buyback program on Thursday, February 13th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the specialty retailer to reacquire up to 3.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board believes its shares are undervalued.

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.