Emerald Advisers LLC Purchases 6,506 Shares of Tractor Supply (NASDAQ:TSCO)

Emerald Advisers LLC grew its position in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 401.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,127 shares of the specialty retailer's stock after purchasing an additional 6,506 shares during the quarter. Emerald Advisers LLC's holdings in Tractor Supply were worth $431,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Baldwin Investment Management LLC grew its holdings in Tractor Supply by 0.3% during the 3rd quarter. Baldwin Investment Management LLC now owns 11,402 shares of the specialty retailer's stock worth $3,317,000 after acquiring an additional 38 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of Tractor Supply by 13.2% during the third quarter. First Horizon Advisors Inc. now owns 351 shares of the specialty retailer's stock worth $102,000 after purchasing an additional 41 shares during the period. Cynosure Group LLC grew its stake in shares of Tractor Supply by 2.8% in the third quarter. Cynosure Group LLC now owns 1,529 shares of the specialty retailer's stock worth $445,000 after purchasing an additional 42 shares during the last quarter. Larson Financial Group LLC increased 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 purchasing an additional 65 shares during the period. Finally, Pine Valley Investments Ltd Liability Co raised its position in Tractor Supply by 7.1% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 978 shares of the specialty retailer's stock worth $285,000 after purchasing an additional 65 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

TSCO has been the topic of a number of analyst reports. Loop Capital upped their price target on Tractor Supply from $53.00 to $58.00 and gave the company a "hold" rating in a research report on Thursday, December 12th. Telsey Advisory Group reiterated an "outperform" rating and issued a $67.00 target price on shares of Tractor Supply in a report on Thursday, January 30th. Mizuho raised their price target on shares of Tractor Supply from $60.00 to $62.00 and gave the stock an "outperform" rating in a report on Thursday, January 23rd. Barclays reduced their price objective on shares of Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Monday, December 30th. Finally, Guggenheim reiterated a "buy" rating and set a $60.00 price objective on shares of Tractor Supply in a research report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $59.22.

Tractor Supply Stock Down 1.3 %

Shares of NASDAQ TSCO traded down $0.69 during mid-day trading on Friday, reaching $53.47. 3,599,669 shares of the company's stock traded hands, compared to its average volume of 5,054,910. 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 $48.30 and a 1-year high of $61.53. The stock has a market cap of $28.55 billion, a P/E ratio of 26.21, a PEG ratio of 2.95 and a beta of 0.85. The business has a 50-day simple moving average of $55.03 and a 200 day simple moving average of $55.64.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its quarterly earnings data 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 return on equity of 49.01% and a net margin of 7.40%. On average, analysts expect that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were paid a $0.92 dividend. This is a positive change from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 annualized dividend and a dividend yield of 6.88%. Tractor Supply's dividend payout ratio is presently 45.10%.

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

Insider Activity

In related news, CEO Harry A. Lawton III sold 88,095 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 488,852 shares of the company's stock, valued at approximately $26,686,430.68. This trade represents a 15.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Melissa Kersey sold 9,300 shares of the business's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $53.17, for a total value of $494,481.00. Following the completion of the transaction, the executive vice president now directly owns 34,961 shares in the company, valued at approximately $1,858,876.37. This represents a 21.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 137,993 shares of company stock worth $7,538,068 over the last quarter. Insiders own 0.58% 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.