Jensen Investment Management Inc. Increases Stake in Tractor Supply (NASDAQ:TSCO)

Jensen Investment Management Inc. boosted its holdings in Tractor Supply (NASDAQ:TSCO - Free Report) by 400.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 126,150 shares of the specialty retailer's stock after purchasing an additional 100,920 shares during the period. Jensen Investment Management Inc.'s holdings in Tractor Supply were worth $6,694,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of TSCO. Assetmark Inc. increased its holdings in Tractor Supply by 2,383.3% during the third quarter. Assetmark Inc. now owns 149 shares of the specialty retailer's stock worth $43,000 after buying an additional 143 shares during the last quarter. Harbour Investments Inc. grew its position in shares of Tractor Supply by 4.6% during the 3rd quarter. Harbour Investments Inc. now owns 958 shares of the specialty retailer's stock valued at $279,000 after acquiring an additional 42 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of Tractor Supply during the 3rd quarter worth approximately $474,000. Oppenheimer Asset Management Inc. raised its holdings in shares of Tractor Supply by 34.9% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 4,109 shares of the specialty retailer's stock worth $1,195,000 after purchasing an additional 1,063 shares during the period. Finally, Metis Global Partners LLC raised its holdings in shares of Tractor Supply by 1.6% in the 3rd quarter. Metis Global Partners LLC now owns 5,123 shares of the specialty retailer's stock worth $1,490,000 after purchasing an additional 80 shares during the period. Institutional investors own 98.72% of the company's stock.

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Insider Transactions at Tractor Supply

In other Tractor Supply news, EVP Melissa Kersey sold 9,300 shares of Tractor Supply stock in a transaction that occurred 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Harry A. Lawton III sold 88,095 shares of the company's stock in a transaction on Monday, February 3rd. The shares were 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 $26,686,430.68. This trade represents a 15.27 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 137,993 shares of company stock valued at $7,538,068. Insiders own 0.24% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on TSCO shares. Barclays decreased their target price on Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating for the company in a research report on Monday, December 30th. Bank of America lifted their price objective on Tractor Supply from $44.00 to $53.00 and gave the stock an "underperform" rating in a report on Thursday, January 16th. JPMorgan Chase & Co. boosted their price objective on Tractor Supply from $58.00 to $59.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. Mizuho increased their target price 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, Loop Capital boosted their price target on shares of Tractor Supply from $53.00 to $58.00 and gave the company a "hold" rating in a research report on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $59.22.

Tractor Supply Price Performance

NASDAQ TSCO traded down $0.96 during trading on Thursday, reaching $51.84. The company's stock had a trading volume of 3,083,906 shares, compared to its average volume of 4,908,744. The stock has a market capitalization of $27.68 billion, a PE ratio of 25.41, a P/E/G ratio of 2.95 and a beta of 0.85. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. The firm has a fifty day moving average of $55.12 and a 200 day moving average of $55.70. Tractor Supply has a one year low of $48.30 and a one year high of $61.53.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share for the quarter, missing the consensus estimate of $2.28 by ($1.84). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. Analysts expect that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply announced that its board has initiated a stock repurchase plan on Thursday, February 13th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the specialty retailer to repurchase up to 3.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.

Tractor Supply Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were given a dividend of $0.92 per share. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 annualized dividend and a dividend yield of 7.10%. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's dividend payout ratio (DPR) is 45.10%.

Tractor Supply Company 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.