Smith Moore & CO. Purchases 19,733 Shares of Tractor Supply (NASDAQ:TSCO)

Smith Moore & CO. lifted its stake in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 381.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,901 shares of the specialty retailer's stock after buying an additional 19,733 shares during the quarter. Smith Moore & CO.'s holdings in Tractor Supply were worth $1,321,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of TSCO. Vanguard Group Inc. increased its stake in Tractor Supply by 392.5% during the 4th quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer's stock valued at $3,397,643,000 after purchasing an additional 51,031,178 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Tractor Supply by 401.8% during the fourth quarter. Wellington Management Group LLP now owns 23,789,249 shares of the specialty retailer's stock worth $1,262,258,000 after acquiring an additional 19,048,385 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Tractor Supply by 403.3% in the 4th quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer's stock worth $1,180,932,000 after acquiring an additional 17,834,643 shares during the last quarter. Geode Capital Management LLC lifted its position in Tractor Supply by 403.2% in the 4th quarter. Geode Capital Management LLC now owns 14,519,937 shares of the specialty retailer's stock valued at $768,838,000 after acquiring an additional 11,634,249 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Tractor Supply by 391.0% during the 4th quarter. JPMorgan Chase & Co. now owns 10,821,654 shares of the specialty retailer's stock worth $574,197,000 after purchasing an additional 8,617,869 shares in the last quarter. Institutional investors own 98.72% of the company's stock.

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Tractor Supply Price Performance

Tractor Supply stock traded down $0.38 during midday trading on Thursday, reaching $51.00. 2,335,554 shares of the stock were exchanged, compared to its average volume of 5,117,127. Tractor Supply has a 52 week low of $46.97 and a 52 week high of $61.53. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. The firm has a market cap of $27.11 billion, a PE ratio of 24.99, a PEG ratio of 2.95 and a beta of 0.88. The company's fifty day moving average is $54.18 and its 200-day moving average is $55.42.

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%. On average, sell-side analysts forecast that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply announced that its Board of Directors has authorized a stock repurchase plan on Thursday, February 13th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the specialty retailer to purchase up to 3.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Tractor Supply Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were given a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 7.22%. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, February 26th. Tractor Supply's dividend payout ratio is 45.10%.

Insider Activity at Tractor Supply

In other news, CEO Harry A. Lawton III sold 88,095 shares of the company's 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 completion of the transaction, the chief executive officer now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Matthew L. Rubin sold 3,850 shares of the company's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total transaction of $222,106.50. Following the completion of the sale, the senior vice president now directly owns 31,787 shares of the company's stock, 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. Insiders have sold 137,993 shares of company stock valued at $7,538,068 over the last three months. 0.24% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Guggenheim restated a "buy" rating and issued a $60.00 target price on shares of Tractor Supply in a report on Friday, January 31st. JPMorgan Chase & Co. increased their target price on shares of Tractor Supply from $58.00 to $59.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Bank of America boosted their price target on shares of Tractor Supply from $44.00 to $53.00 and gave the stock an "underperform" rating in a report on Thursday, January 16th. Telsey Advisory Group reiterated an "outperform" rating and issued a $67.00 price objective on shares of Tractor Supply in a research note on Thursday, January 30th. Finally, Mizuho boosted their target price on Tractor Supply from $60.00 to $62.00 and gave the stock an "outperform" rating in a research note on Thursday, January 23rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $59.07.

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.