Sequoia Financial Advisors LLC Acquires 83,327 Shares of Tractor Supply (NASDAQ:TSCO)

Sequoia Financial Advisors LLC boosted its holdings in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 429.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 102,750 shares of the specialty retailer's stock after buying an additional 83,327 shares during the period. Sequoia Financial Advisors LLC's holdings in Tractor Supply were worth $5,452,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in Tractor Supply during the fourth quarter worth about $329,458,000. Meridiem Investment Management Ltd. lifted its stake in Tractor Supply by 398.9% during the fourth quarter. Meridiem Investment Management Ltd. now owns 5,118,785 shares of the specialty retailer's stock worth $271,674,000 after purchasing an additional 4,092,808 shares during the last quarter. Wellington Management Group LLP lifted its stake in Tractor Supply by 3.5% during the third quarter. Wellington Management Group LLP now owns 4,740,864 shares of the specialty retailer's stock worth $1,379,260,000 after purchasing an additional 161,503 shares during the last quarter. State Street Corp lifted its stake in Tractor Supply by 1.1% during the third quarter. State Street Corp now owns 4,518,341 shares of the specialty retailer's stock worth $1,314,521,000 after purchasing an additional 47,951 shares during the last quarter. Finally, Amundi lifted its stake in Tractor Supply by 495.2% during the fourth quarter. Amundi now owns 4,145,992 shares of the specialty retailer's stock worth $225,501,000 after purchasing an additional 3,449,442 shares during the last quarter. Institutional investors own 98.72% of the company's stock.

Tractor Supply Stock Down 1.3 %

Shares of NASDAQ:TSCO opened at $51.66 on Friday. Tractor Supply has a 1 year low of $48.30 and a 1 year high of $61.53. The company has a market cap of $27.59 billion, a PE ratio of 25.32, 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 stock's 50-day moving average is $55.21 and its 200 day moving average is $55.77.

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Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share 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%. Sell-side analysts anticipate that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply announced that its Board of Directors has approved a share repurchase program on Thursday, February 13th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the specialty retailer to purchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its stock is undervalued.

Tractor Supply Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were issued a dividend of $0.92 per share. This is an increase from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 7.12%. Tractor Supply's dividend payout ratio is 45.10%.

Insiders Place Their Bets

In other Tractor Supply news, CEO Harry A. Lawton III sold 88,095 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $54.59, for a total transaction of $4,809,106.05. Following the transaction, the chief executive officer now owns 488,852 shares in the company, valued at approximately $26,686,430.68. This represents a 15.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Matthew L. Rubin sold 3,850 shares of the company's stock in a transaction that occurred 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 transaction, the senior vice president now owns 31,787 shares in the company, valued at $1,833,792.03. This trade represents a 10.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 137,993 shares of company stock worth $7,538,068. Company insiders own 0.24% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on TSCO. Loop Capital lifted their price target on Tractor Supply from $53.00 to $58.00 and gave the stock a "hold" rating in a research note on Thursday, December 12th. Guggenheim reaffirmed a "buy" rating and set a $60.00 price target on shares of Tractor Supply in a research note on Friday, January 31st. Mizuho lifted 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. Evercore ISI upgraded Tractor Supply from a "hold" rating to a "strong-buy" rating in a report on Friday, November 15th. Finally, 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. Two analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average 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.

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