Bank of Montreal Can Raises Stock Position in Tractor Supply (NASDAQ:TSCO)

Bank of Montreal Can boosted its holdings in Tractor Supply (NASDAQ:TSCO - Free Report) by 840.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 963,097 shares of the specialty retailer's stock after buying an additional 860,739 shares during the period. Bank of Montreal Can owned 0.18% of Tractor Supply worth $51,102,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Smithfield Trust Co increased its stake in Tractor Supply by 286.2% in the 4th quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock worth $25,000 after buying an additional 352 shares in the last quarter. PrairieView Partners LLC grew its position in shares of Tractor Supply by 400.0% during the fourth quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer's stock valued at $26,000 after purchasing an additional 400 shares in the last quarter. Future Financial Wealth Managment LLC grew its position in shares of Tractor Supply by 400.0% during the fourth quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer's stock valued at $27,000 after purchasing an additional 400 shares in the last quarter. Archer Investment Corp grew its position in shares of Tractor Supply by 400.0% during the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock valued at $27,000 after purchasing an additional 400 shares in the last quarter. Finally, Kentucky Trust Co purchased a new position in shares of Tractor Supply during the fourth quarter valued at about $27,000. Hedge funds and other institutional investors own 98.72% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TSCO. Bank of America raised 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 Tractor Supply in a research report on Wednesday. They set an "equal weight" rating and a $56.00 price objective for the company. Mizuho raised their price objective on Tractor Supply from $60.00 to $62.00 and gave the company an "outperform" rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. raised their price objective on Tractor Supply from $58.00 to $59.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Finally, Barclays lowered 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. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $59.07.

Remove Ads

Tractor Supply Stock Up 7.0 %

Shares of NASDAQ TSCO opened at $51.38 on Thursday. The firm has a 50-day simple moving average of $54.18 and a two-hundred day simple moving average of $55.42. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. Tractor Supply has a 1 year low of $46.97 and a 1 year high of $61.53. The company has a market cap of $27.31 billion, a P/E ratio of 25.19, a PEG ratio of 2.95 and a beta of 0.88.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share 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%. Research analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply Increases Dividend

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

Tractor Supply declared that its Board of Directors has initiated a stock buyback plan on Thursday, February 13th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to purchase up to 3.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Insider Activity

In related news, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total transaction of $222,106.50. Following the transaction, the senior vice president now directly owns 31,787 shares of the company's stock, valued at $1,833,792.03. This trade represents a 10.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Melissa Kersey sold 9,300 shares of Tractor Supply stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $53.17, for a total transaction of $494,481.00. Following the transaction, the executive vice president now directly owns 34,961 shares in the company, valued at approximately $1,858,876.37. The trade was a 21.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 137,993 shares of company stock valued at $7,538,068. Corporate insiders own 0.24% of the company's stock.

About Tractor Supply

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.

Want to see what other hedge funds are holding TSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tractor Supply (NASDAQ:TSCO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.