Boston Research & Management Inc. Has $9.50 Million Stock Position in Tractor Supply (NASDAQ:TSCO)

Boston Research & Management Inc. lifted its position in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 388.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 179,100 shares of the specialty retailer's stock after buying an additional 142,463 shares during the quarter. Tractor Supply makes up about 2.3% of Boston Research & Management Inc.'s holdings, making the stock its 7th largest position. Boston Research & Management Inc.'s holdings in Tractor Supply were worth $9,503,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Pine Valley Investments Ltd Liability Co raised its position in Tractor Supply by 7.1% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 978 shares of the specialty retailer's stock worth $285,000 after acquiring an additional 65 shares during the last quarter. Synergy Financial Group LTD raised its position in shares of Tractor Supply by 12.4% during the 3rd quarter. Synergy Financial Group LTD now owns 1,090 shares of the specialty retailer's stock worth $317,000 after purchasing an additional 120 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in shares of Tractor Supply by 0.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 27,710 shares of the specialty retailer's stock worth $8,058,000 after purchasing an additional 141 shares during the last quarter. Glen Eagle Advisors LLC lifted its stake in Tractor Supply by 75.8% in the 3rd quarter. Glen Eagle Advisors LLC now owns 464 shares of the specialty retailer's stock valued at $135,000 after buying an additional 200 shares in the last quarter. Finally, Motley Fool Asset Management LLC grew its holdings in Tractor Supply by 1.7% during the 3rd quarter. Motley Fool Asset Management LLC now owns 15,855 shares of the specialty retailer's stock valued at $4,679,000 after buying an additional 266 shares during the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

TSCO has been the topic of several recent research reports. Mizuho upped their price objective on Tractor Supply from $60.00 to $62.00 and gave the company an "outperform" rating in a research report on Thursday, January 23rd. Barclays cut their target price on shares of Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating for the company in a research note on Monday, December 30th. Loop Capital raised their price target on shares of Tractor Supply from $53.00 to $58.00 and gave the stock a "hold" rating in a research note on Thursday, December 12th. JPMorgan Chase & Co. boosted their price objective 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. Finally, Guggenheim reissued a "buy" rating and set a $60.00 price objective 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 issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $59.22.

Tractor Supply Stock Up 0.1 %

Tractor Supply stock traded up $0.03 during trading on Tuesday, reaching $55.13. 4,991,376 shares of the company's stock were exchanged, compared to its average volume of 5,068,527. Tractor Supply has a 52-week low of $48.30 and a 52-week high of $61.53. The firm has a market cap of $29.44 billion, a price-to-earnings ratio of 27.02, a PEG ratio of 2.95 and a beta of 0.85. 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 company's 50-day moving average is $55.02 and its two-hundred day moving average is $55.64.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its earnings results 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 net margin of 7.40% and a return on equity of 49.01%. On average, analysts predict that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply Increases Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 6.68%. This is an increase from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's dividend payout ratio (DPR) is presently 45.10%.

Tractor Supply declared that its board has approved a share repurchase program on Thursday, February 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the specialty retailer to reacquire up to 3.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, EVP Colin Yankee sold 24,602 shares of Tractor Supply stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 33,645 shares in the company, valued at approximately $1,821,876.75. This trade represents a 42.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Melissa Kersey sold 9,300 shares of the company's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $53.17, for a total value of $494,481.00. Following the sale, the executive vice president now owns 34,961 shares in the company, valued at $1,858,876.37. The trade was a 21.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 137,993 shares of company stock worth $7,538,068. Insiders own 0.24% of the company's stock.

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.