Envestnet Portfolio Solutions Inc. Increases Stock Position in Tractor Supply (NASDAQ:TSCO)

Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 404.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 28,365 shares of the specialty retailer's stock after acquiring an additional 22,739 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Tractor Supply were worth $1,505,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Smithfield Trust Co raised its holdings in Tractor Supply by 286.2% during the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock worth $25,000 after purchasing an additional 352 shares in the last quarter. PrairieView Partners LLC raised its stake in Tractor Supply by 400.0% during the 4th quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer's stock worth $26,000 after acquiring an additional 400 shares in the last quarter. Future Financial Wealth Managment LLC lifted its position in Tractor Supply by 400.0% in the fourth quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer's stock valued at $27,000 after acquiring an additional 400 shares during the last quarter. Archer Investment Corp boosted its stake in Tractor Supply by 400.0% in the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock valued at $27,000 after acquiring an additional 400 shares in the last quarter. Finally, Kentucky Trust Co purchased a new position in shares of Tractor Supply during the fourth quarter worth about $27,000. Hedge funds and other institutional investors own 98.72% of the company's stock.

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Insider Buying and Selling

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total value of $222,106.50. Following the completion of the sale, the senior vice president now directly owns 31,787 shares of the company's stock, valued at approximately $1,833,792.03. The trade was a 10.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Harry A. Lawton III sold 88,095 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 488,852 shares in the company, valued at approximately $26,686,430.68. This represents a 15.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 137,993 shares of company stock worth $7,538,068. 0.58% of the stock is owned by corporate insiders.

Tractor Supply Price Performance

TSCO stock traded up $1.04 during midday trading on Wednesday, hitting $53.87. 2,454,461 shares of the stock were exchanged, compared to its average volume of 4,886,410. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. The stock has a market cap of $28.77 billion, a price-to-earnings ratio of 26.41, a PEG ratio of 2.95 and a beta of 0.85. Tractor Supply has a fifty-two week low of $48.30 and a fifty-two week high of $61.53. The stock's 50-day moving average price is $55.00 and its 200-day moving average price is $55.67.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 EPS for the quarter, missing the consensus estimate 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 predict that Tractor Supply will post 2.17 earnings per share for the current year.

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

Tractor Supply Increases Dividend

The business also recently disclosed 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. This represents a $3.68 dividend on an annualized basis and a yield of 6.83%. The ex-dividend date of this dividend was Wednesday, February 26th. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's dividend payout ratio (DPR) is currently 45.10%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TSCO shares. Bank of America raised their price target on Tractor Supply from $44.00 to $53.00 and gave the stock an "underperform" rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. raised their target price on shares of Tractor Supply from $58.00 to $59.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Telsey Advisory Group reiterated an "outperform" rating and issued a $67.00 price target on shares of Tractor Supply in a research report on Thursday, January 30th. Barclays lowered 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 report on Monday, December 30th. Finally, Mizuho upped their target price on shares of Tractor Supply from $60.00 to $62.00 and gave the company an "outperform" rating in a report on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $59.22.

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.