Cibc World Markets Corp Acquires 69,839 Shares of Tractor Supply (NASDAQ:TSCO)

Cibc World Markets Corp raised its stake in Tractor Supply (NASDAQ:TSCO - Free Report) by 475.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 84,515 shares of the specialty retailer's stock after acquiring an additional 69,839 shares during the quarter. Cibc World Markets Corp's holdings in Tractor Supply were worth $4,484,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Baldwin Investment Management LLC raised its position in Tractor Supply by 0.3% in the third quarter. Baldwin Investment Management LLC now owns 11,402 shares of the specialty retailer's stock valued at $3,317,000 after purchasing an additional 38 shares during the last quarter. First Horizon Advisors Inc. increased its stake in shares of Tractor Supply by 13.2% in the third quarter. First Horizon Advisors Inc. now owns 351 shares of the specialty retailer's stock valued at $102,000 after buying an additional 41 shares during the period. Cynosure Group LLC raised its position in shares of Tractor Supply by 2.8% during the third quarter. Cynosure Group LLC now owns 1,529 shares of the specialty retailer's stock worth $445,000 after acquiring an additional 42 shares during the last quarter. Strategy Asset Managers LLC raised its position in shares of Tractor Supply by 5.4% during the third quarter. Strategy Asset Managers LLC now owns 1,198 shares of the specialty retailer's stock worth $348,000 after acquiring an additional 61 shares during the last quarter. Finally, Larson Financial Group LLC boosted its holdings in Tractor Supply by 29.4% in the third quarter. Larson Financial Group LLC now owns 286 shares of the specialty retailer's stock valued at $83,000 after acquiring an additional 65 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $57.69, for a total transaction of $222,106.50. Following the completion of the transaction, the senior vice president now directly owns 31,787 shares of the company's stock, valued at approximately $1,833,792.03. This represents a 10.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Harry A. Lawton III sold 88,095 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $54.59, for a total value of $4,809,106.05. Following the completion of the sale, the chief executive officer now owns 488,852 shares in the company, valued at approximately $26,686,430.68. The trade was a 15.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 137,993 shares of company stock worth $7,538,068. Insiders own 0.24% of the company's stock.

Wall Street Analyst Weigh In

TSCO has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of Tractor Supply from $58.00 to $59.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Guggenheim reissued a "buy" rating and set a $60.00 target price on shares of Tractor Supply in a research note on Friday, January 31st. Telsey Advisory Group reaffirmed an "outperform" rating and set a $67.00 price target on shares of Tractor Supply in a research report on Thursday, January 30th. Mizuho increased their price target on Tractor Supply from $60.00 to $62.00 and gave the stock an "outperform" rating in a report on Thursday, January 23rd. Finally, 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 note on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $59.22.

Tractor Supply Stock Up 2.0 %

TSCO stock traded up $1.07 during trading on Monday, reaching $53.53. The stock had a trading volume of 3,391,242 shares, compared to its average volume of 4,899,696. Tractor Supply has a one year low of $48.30 and a one year high of $61.53. The company's 50 day moving average is $55.03 and its two-hundred day moving average is $55.69. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $28.59 billion, a price-to-earnings ratio of 26.24, a P/E/G ratio of 2.95 and a beta of 0.85.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 EPS for the quarter, missing analysts' consensus estimates of $2.28 by ($1.84). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. Equities research analysts forecast that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply announced that its Board of Directors has authorized a stock repurchase program on Thursday, February 13th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the specialty retailer to reacquire up to 3.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board believes its stock is undervalued.

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were given a dividend of $0.92 per share. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 annualized dividend and a yield of 6.87%. This is a positive change from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's dividend payout ratio is presently 45.10%.

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.