Pictet Asset Management Holding SA Acquires 303,421 Shares of Tractor Supply (NASDAQ:TSCO)

Pictet Asset Management Holding SA grew its holdings in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 472.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 367,606 shares of the specialty retailer's stock after acquiring an additional 303,421 shares during the period. Pictet Asset Management Holding SA owned about 0.07% of Tractor Supply worth $19,505,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of TSCO. FMR LLC boosted its holdings in Tractor Supply by 7.6% in the third quarter. FMR LLC now owns 163,454 shares of the specialty retailer's stock valued at $47,554,000 after acquiring an additional 11,584 shares during the last quarter. Financial Counselors Inc. acquired a new stake in shares of Tractor Supply during the third quarter worth $277,000. Public Sector Pension Investment Board raised its stake in Tractor Supply by 12.0% during the third quarter. Public Sector Pension Investment Board now owns 4,664 shares of the specialty retailer's stock worth $1,357,000 after buying an additional 500 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in Tractor Supply by 0.5% in the third quarter. Rockefeller Capital Management L.P. now owns 27,710 shares of the specialty retailer's stock valued at $8,058,000 after buying an additional 141 shares during the period. Finally, Icon Wealth Advisors LLC bought a new stake in Tractor Supply during the third quarter valued at $111,000. Institutional investors and hedge funds own 98.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on TSCO shares. 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 research report on Thursday, January 16th. Barclays dropped their price target on 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. Mizuho raised their price objective 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. Telsey Advisory Group reiterated an "outperform" rating and set a $67.00 target price on shares of Tractor Supply in a research report on Thursday, January 30th. Finally, Guggenheim reissued a "buy" rating and set a $60.00 target price on shares of Tractor Supply in a research note on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Tractor Supply currently has a consensus rating of "Moderate Buy" and an average target price of $59.22.

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Tractor Supply Stock Up 0.3 %

Shares of NASDAQ TSCO traded up $0.15 during trading on Thursday, hitting $55.77. The stock had a trading volume of 7,008,360 shares, compared to its average volume of 5,071,891. 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 $54.98 and a two-hundred day moving average of $55.64. Tractor Supply has a 12 month low of $48.30 and a 12 month high of $61.53. The company has a market capitalization of $29.78 billion, a PE ratio of 27.34, a PEG ratio of 2.95 and a beta of 0.85.

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 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%. As a group, equities research analysts forecast that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were given a $0.92 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 annualized dividend and a yield of 6.60%. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's payout ratio is currently 45.10%.

Tractor Supply declared that its Board of Directors has authorized a share repurchase program on Thursday, February 13th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the specialty retailer to buy up to 3.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at Tractor Supply

In other news, SVP Matthew L. Rubin sold 3,850 shares of the company's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $57.69, for a total transaction of $222,106.50. Following the transaction, the senior vice president now owns 31,787 shares of the company's stock, valued at $1,833,792.03. This represents a 10.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 owns 488,852 shares of the company's stock, valued at $26,686,430.68. The trade was a 15.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 137,993 shares of company stock worth $7,538,068 in the last quarter. 0.24% of the stock is currently owned by company insiders.

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.