Claret Asset Management Corp Acquires 92,586 Shares of Tractor Supply (NASDAQ:TSCO)

Claret Asset Management Corp raised its stake in Tractor Supply (NASDAQ:TSCO - Free Report) by 391.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 116,265 shares of the specialty retailer's stock after buying an additional 92,586 shares during the quarter. Tractor Supply makes up about 1.0% of Claret Asset Management Corp's investment portfolio, making the stock its 25th largest holding. Claret Asset Management Corp's holdings in Tractor Supply were worth $6,169,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in shares of Tractor Supply by 415.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,936,251 shares of the specialty retailer's stock worth $314,969,000 after purchasing an additional 4,783,840 shares in the last quarter. First Trust Advisors LP grew its position in Tractor Supply by 386.3% in the 4th quarter. First Trust Advisors LP now owns 1,195,166 shares of the specialty retailer's stock valued at $63,416,000 after buying an additional 949,407 shares in the last quarter. Forum Financial Management LP increased its stake in Tractor Supply by 415.4% during the 4th quarter. Forum Financial Management LP now owns 3,860 shares of the specialty retailer's stock valued at $205,000 after buying an additional 3,111 shares during the period. Freedom Investment Management Inc. raised its position in shares of Tractor Supply by 403.6% during the 4th quarter. Freedom Investment Management Inc. now owns 6,386 shares of the specialty retailer's stock worth $339,000 after buying an additional 5,118 shares in the last quarter. Finally, Generation Capital Management LLC acquired a new stake in shares of Tractor Supply in the 4th quarter worth approximately $236,000. Institutional investors and hedge funds own 98.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TSCO. JPMorgan Chase & Co. boosted 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. Guggenheim reissued a "buy" rating and issued a $60.00 price objective on shares of Tractor Supply in a research note on Friday, January 31st. Bank of America raised their target price on Tractor Supply from $44.00 to $53.00 and gave the company an "underperform" rating in a research note on Thursday, January 16th. Mizuho boosted their price target on shares of Tractor Supply from $60.00 to $62.00 and gave the stock an "outperform" rating in a research report on Thursday, January 23rd. Finally, Stephens initiated coverage on shares of Tractor Supply in a research report on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 price objective for the company. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $59.07.

Insider Transactions at Tractor Supply

In related news, CEO Harry A. Lawton III sold 88,095 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was 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 directly owns 488,852 shares in the company, valued at approximately $26,686,430.68. The trade was a 15.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Melissa Kersey sold 9,300 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $53.17, for a total value of $494,481.00. Following the transaction, the executive vice president now owns 34,961 shares in the company, valued at approximately $1,858,876.37. This trade represents a 21.01 % decrease in their position. 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 in the last 90 days. 0.65% of the stock is owned by insiders.

Tractor Supply Stock Down 3.4 %

TSCO stock traded down $1.71 during midday trading on Thursday, reaching $49.02. The company had a trading volume of 8,569,848 shares, compared to its average volume of 5,135,294. The company has a 50 day moving average of $53.36 and a two-hundred day moving average of $54.94. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. Tractor Supply has a 1 year low of $46.93 and a 1 year high of $61.53. The company has a market capitalization of $26.06 billion, a P/E ratio of 24.01, a PEG ratio of 2.95 and a beta of 0.88.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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. This represents a $3.68 annualized dividend and a yield of 7.51%. This is an increase from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. Tractor Supply's payout ratio is currently 45.10%.

Tractor Supply announced that its board has initiated a share buyback plan on Thursday, February 13th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the specialty retailer to purchase up to 3.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

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.