Penobscot Investment Management Company Inc. boosted its position in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 371.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,615 shares of the specialty retailer's stock after acquiring an additional 27,267 shares during the period. Penobscot Investment Management Company Inc.'s holdings in Tractor Supply were worth $1,837,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. BOK Financial Private Wealth Inc. boosted its holdings in Tractor Supply by 330.2% in 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 in the last quarter. Blueshift Asset Management LLC boosted its holdings in shares of Tractor Supply by 32.7% in the 3rd quarter. Blueshift Asset Management LLC now owns 9,945 shares of the specialty retailer's stock valued at $2,893,000 after buying an additional 2,452 shares in the last quarter. Callan Family Office LLC purchased a new position in shares of Tractor Supply in the 4th quarter valued at $503,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Tractor Supply by 379.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 890,898 shares of the specialty retailer's stock worth $47,271,000 after acquiring an additional 704,896 shares in the last quarter. Finally, Citizens Financial Group Inc. RI raised its stake in Tractor Supply by 368.7% during the 4th quarter. Citizens Financial Group Inc. RI now owns 7,485 shares of the specialty retailer's stock worth $397,000 after acquiring an additional 5,888 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Tractor Supply
In other news, EVP Colin Yankee sold 24,602 shares of the company's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $54.15, for a total value of $1,332,198.30. Following the sale, the executive vice president now directly owns 33,645 shares in the company, valued at $1,821,876.75. This represents a 42.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply stock in a transaction dated 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 sale, the chief executive officer now owns 488,852 shares of the company's stock, 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. Insiders have sold 137,993 shares of company stock valued at $7,538,068 over the last quarter. Corporate insiders own 0.58% of the company's stock.
Analysts Set New Price Targets
Several equities analysts have issued reports on the company. Loop Capital raised their price objective on Tractor Supply from $53.00 to $58.00 and gave the stock a "hold" rating in a report on Thursday, December 12th. Mizuho raised their price target on Tractor Supply from $60.00 to $62.00 and gave the stock an "outperform" rating in a research note on Thursday, January 23rd. Bank of America boosted their price objective on Tractor Supply from $44.00 to $53.00 and gave the company an "underperform" rating in a research note on Thursday, January 16th. Telsey Advisory Group restated an "outperform" rating and set a $67.00 target price on shares of Tractor Supply in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. upped their price target on shares of Tractor Supply from $58.00 to $59.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.22.
Get Our Latest Stock Analysis on Tractor Supply
Tractor Supply Price Performance
Tractor Supply stock traded down $0.69 during mid-day trading on Friday, reaching $53.47. The company had a trading volume of 3,599,669 shares, compared to its average volume of 5,054,910. The stock's 50-day simple moving average is $55.03 and its 200-day simple moving average is $55.65. The company has a market capitalization of $28.55 billion, a P/E ratio of 26.21, 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. Tractor Supply has a 1 year low of $48.30 and a 1 year high of $61.53.
Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share (EPS) 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%. On average, equities analysts predict that Tractor Supply will post 2.17 EPS for the current year.
Tractor Supply declared that its Board of Directors has authorized a stock buyback plan on Thursday, February 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the specialty retailer to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its stock is undervalued.
Tractor Supply Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were given a dividend of $0.92 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a yield of 6.88%. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's payout ratio is presently 45.10%.
About Tractor Supply
(
Free Report)
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.
Featured Stories
Before you consider Tractor Supply, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tractor Supply wasn't on the list.
While Tractor Supply currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
