Tractor Supply (NASDAQ:TSCO) Shares Purchased by Freedom Investment Management Inc.

Freedom Investment Management Inc. lifted its position in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 403.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,386 shares of the specialty retailer's stock after buying an additional 5,118 shares during the quarter. Freedom Investment Management Inc.'s holdings in Tractor Supply were worth $339,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. CIBC Private Wealth Group LLC increased its stake in shares of Tractor Supply by 385.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,089,542 shares of the specialty retailer's stock valued at $59,260,000 after acquiring an additional 865,273 shares during the last quarter. BOK Financial Private Wealth Inc. boosted its holdings in shares of Tractor Supply by 330.2% in the 4th 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 last quarter. Blueshift Asset Management LLC grew its stake in shares of 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 buying an additional 56,870 shares during the period. Heritage Trust Co purchased a new position in shares of Tractor Supply in the 4th quarter worth $1,829,000. Finally, Callan Family Office LLC acquired a new position in Tractor Supply in the fourth quarter valued at $503,000. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $57.69, for a total value of $222,106.50. Following the sale, the senior vice president now directly owns 31,787 shares in the company, valued at approximately $1,833,792.03. This trade represents a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a 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 shares were sold at an average price of $53.17, for a total transaction of $494,481.00. Following the transaction, the executive vice president now directly owns 34,961 shares of the company's stock, 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 137,993 shares of company stock valued at $7,538,068 over the last quarter. Insiders own 0.65% of the company's stock.

Tractor Supply Stock Performance

Shares of TSCO traded up $0.92 during mid-day trading on Friday, hitting $49.92. The stock had a trading volume of 6,948,963 shares, compared to its average volume of 5,151,603. Tractor Supply has a fifty-two week low of $46.85 and a fifty-two week high of $61.53. 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 cap of $26.54 billion, a PE ratio of 24.47, a PEG ratio of 2.95 and a beta of 0.88. The company's fifty day simple moving average is $53.19 and its two-hundred day simple moving average is $54.88.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its earnings results on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). The business had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.55 billion. Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. On average, equities analysts expect that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply declared that its board 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 a sign that the company's leadership 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 paid a dividend of $0.92 per share. 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 yield of 7.37%. Tractor Supply's dividend payout ratio is 45.77%.

Analyst Ratings Changes

Several research firms have recently weighed in on TSCO. Citigroup reduced their price objective on Tractor Supply from $59.00 to $51.00 and set a "neutral" rating on the stock in a research note on Friday. Robert W. Baird cut their target price on shares of Tractor Supply from $63.00 to $56.00 and set an "outperform" rating on the stock in a research note on Friday. Guggenheim lowered their price target on Tractor Supply from $60.00 to $55.00 and set a "buy" rating for the company in a report on Friday. Raymond James reduced their price objective on Tractor Supply from $61.00 to $57.00 and set an "outperform" rating on the stock in a research note on Friday. Finally, Stephens initiated coverage on Tractor Supply in a research report on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $57.88.

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.