BI Asset Management Fondsmaeglerselskab A S Grows Position in Tractor Supply (NASDAQ:TSCO)

BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 351.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,570 shares of the specialty retailer's stock after buying an additional 16,791 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Tractor Supply were worth $1,145,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in TSCO. Beck Mack & Oliver LLC boosted its holdings in shares of Tractor Supply by 400.0% in the fourth quarter. Beck Mack & Oliver LLC now owns 12,574 shares of the specialty retailer's stock valued at $667,000 after purchasing an additional 10,059 shares during the period. Capital International Inc. CA increased its holdings in Tractor Supply by 411.5% during the fourth quarter. Capital International Inc. CA now owns 328,290 shares of the specialty retailer's stock valued at $17,419,000 after buying an additional 264,111 shares during the period. Capital Research Global Investors lifted its holdings in Tractor Supply by 400.5% during the fourth quarter. Capital Research Global Investors now owns 7,617,713 shares of the specialty retailer's stock worth $404,196,000 after buying an additional 6,095,825 shares during the period. Capital World Investors lifted its stake in shares of Tractor Supply by 403.7% during the 4th quarter. Capital World Investors now owns 19,433,135 shares of the specialty retailer's stock worth $1,031,122,000 after purchasing an additional 15,575,311 shares during the last quarter. Finally, Claret Asset Management Corp boosted its holdings in shares of Tractor Supply by 391.0% in the 4th quarter. Claret Asset Management Corp now owns 116,265 shares of the specialty retailer's stock valued at $6,169,000 after buying an additional 92,586 shares in the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Barclays lowered their price target on Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating for the company in a report on Monday, December 30th. Stephens began coverage on shares of Tractor Supply in a research note on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 price objective for the company. Mizuho cut their target price on Tractor Supply from $62.00 to $58.00 and set an "outperform" rating on the stock in a research report on Friday. Guggenheim reduced their price objective on Tractor Supply from $60.00 to $55.00 and set a "buy" rating for the company in a research note on Friday. Finally, Robert W. Baird dropped their price objective on shares of Tractor Supply from $63.00 to $56.00 and set an "outperform" rating on the stock in a report on Friday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $57.88.

Insider Activity

In related news, CEO Harry A. Lawton III sold 88,095 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was 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 $26,686,430.68. This trade represents a 15.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Melissa Kersey sold 9,300 shares of the business's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $53.17, for a total transaction of $494,481.00. Following the sale, the executive vice president now owns 34,961 shares in the company, valued at $1,858,876.37. This trade represents a 21.01 % 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 valued at $7,538,068 in the last quarter. Insiders own 0.65% of the company's stock.

Tractor Supply Trading Up 1.9 %

Tractor Supply stock traded up $0.92 during trading on Friday, reaching $49.92. 6,948,963 shares of the company were exchanged, compared to its average volume of 5,126,299. The stock's 50 day simple moving average is $53.04 and its two-hundred day simple moving average is $54.80. The company has a market capitalization of $26.54 billion, a P/E ratio of 24.47, a PEG ratio of 2.95 and a beta of 0.88. 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 52-week low of $46.85 and a 52-week high of $61.53.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. The firm had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.55 billion. On average, equities research analysts expect that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were given a $0.92 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a yield of 7.37%. This is an increase from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's payout ratio is currently 45.77%.

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

Tractor Supply 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.