Tractor Supply (NASDAQ:TSCO) Stake Raised by Clearbridge Investments LLC

Clearbridge Investments LLC lifted its stake in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 410.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,300,360 shares of the specialty retailer's stock after buying an additional 2,653,364 shares during the quarter. Clearbridge Investments LLC owned 0.62% of Tractor Supply worth $175,117,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. BOK Financial Private Wealth Inc. raised its stake in shares of Tractor Supply by 330.2% during the fourth quarter. BOK Financial Private Wealth Inc. now owns 21,355 shares of the specialty retailer's stock valued at $1,133,000 after purchasing an additional 16,391 shares during the period. Blueshift Asset Management LLC grew its holdings in Tractor Supply by 571.8% during the 4th quarter. Blueshift Asset Management LLC now owns 66,815 shares of the specialty retailer's stock valued at $3,545,000 after purchasing an additional 56,870 shares in the last quarter. Callan Family Office LLC purchased a new stake in Tractor Supply during the 4th quarter worth $503,000. CIBC Private Wealth Group LLC lifted its holdings in Tractor Supply by 385.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,089,542 shares of the specialty retailer's stock worth $59,260,000 after buying an additional 865,273 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Tractor Supply by 379.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 890,898 shares of the specialty retailer's stock worth $47,271,000 after buying an additional 704,896 shares in the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity at Tractor Supply

In other news, EVP Melissa Kersey sold 9,300 shares of the company's 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 completion of the sale, the executive vice president now directly owns 34,961 shares of the company's stock, valued at approximately $1,858,876.37. This represents a 21.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Matthew L. Rubin sold 3,850 shares of the 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 completion of the transaction, the senior vice president now 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 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 three months. 0.24% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on TSCO shares. 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 research report on Friday, January 31st. Guggenheim restated a "buy" rating and set a $60.00 price objective on shares of Tractor Supply in a report on Friday, January 31st. Barclays reduced their target price on Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating for the company in a research note on Monday, December 30th. Telsey Advisory Group reissued an "outperform" rating and set a $67.00 price target on shares of Tractor Supply in a research report on Thursday, January 30th. Finally, Bank of America upped their price target on shares of Tractor Supply from $44.00 to $53.00 and gave the company an "underperform" rating in a report on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $59.22.

Tractor Supply Stock Performance

TSCO stock traded up $0.03 during mid-day trading on Tuesday, reaching $55.13. The company had a trading volume of 4,991,376 shares, compared to its average volume of 5,068,527. Tractor Supply has a one year low of $48.30 and a one year high of $61.53. The stock has a market capitalization of $29.44 billion, a P/E ratio of 27.02, a P/E/G ratio of 2.95 and a beta of 0.85. 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 stock's 50-day simple moving average is $55.02 and its two-hundred day simple moving average is $55.64.

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

Tractor Supply declared that its Board of Directors has initiated a share repurchase 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 shares through open market purchases. Shares buyback plans are generally an indication that the company's board believes its stock is undervalued.

Tractor Supply Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 6.68%. This is a positive change from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. Tractor Supply's dividend payout ratio is 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.