CIBC Private Wealth Group LLC Increases Holdings in Tractor Supply (NASDAQ:TSCO)

CIBC Private Wealth Group LLC lifted its stake in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 385.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,089,542 shares of the specialty retailer's stock after purchasing an additional 865,273 shares during the period. CIBC Private Wealth Group LLC owned about 0.20% of Tractor Supply worth $59,260,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of TSCO. California Public Employees Retirement System raised its holdings in shares of Tractor Supply by 394.6% during the fourth quarter. California Public Employees Retirement System now owns 1,273,508 shares of the specialty retailer's stock valued at $67,572,000 after acquiring an additional 1,016,031 shares during the last quarter. Schroder Investment Management Group raised its stake in Tractor Supply by 6,316.5% in the 4th quarter. Schroder Investment Management Group now owns 878,613 shares of the specialty retailer's stock valued at $46,206,000 after purchasing an additional 864,920 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Tractor Supply in the 4th quarter valued at $2,005,000. Strategy Asset Managers LLC boosted its stake in Tractor Supply by 405.8% during the 4th quarter. Strategy Asset Managers LLC now owns 6,060 shares of the specialty retailer's stock worth $322,000 after purchasing an additional 4,862 shares during the last quarter. Finally, Intrust Bank NA grew its holdings in shares of Tractor Supply by 389.7% during the fourth quarter. Intrust Bank NA now owns 9,550 shares of the specialty retailer's stock worth $507,000 after buying an additional 7,600 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company's stock.

Remove Ads

Insiders Place Their Bets

In other news, 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 completion of the transaction, the chief executive officer now owns 488,852 shares in the company, valued at approximately $26,686,430.68. This trade represents a 15.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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 transaction of $222,106.50. Following the sale, the senior vice president now owns 31,787 shares in the company, valued at $1,833,792.03. The trade was a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 137,993 shares of company stock worth $7,538,068 over the last 90 days. Corporate insiders own 0.24% of the company's stock.

Tractor Supply Trading Up 0.1 %

Shares of TSCO stock traded up $0.03 on Tuesday, hitting $55.13. The stock had a trading volume of 4,991,376 shares, compared to its average volume of 5,068,527. The company's 50 day moving average price is $55.02 and its 200-day moving average price is $55.64. Tractor Supply has a 1 year low of $48.30 and a 1 year high of $61.53. The firm has a market capitalization of $29.44 billion, a P/E ratio of 27.02, 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 (NASDAQ:TSCO - Get Free Report) last issued its quarterly earnings results 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%. Analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply declared that its board has approved a stock repurchase program on Thursday, February 13th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the specialty retailer to reacquire up to 3.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company's leadership believes its stock is undervalued.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were paid a $0.92 dividend. This is an increase from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 annualized dividend and a dividend yield of 6.68%. Tractor Supply's payout ratio is 45.10%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of Tractor Supply from $58.00 to $59.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Mizuho boosted their target price on Tractor Supply from $60.00 to $62.00 and gave the stock an "outperform" rating in a report on Thursday, January 23rd. Guggenheim reaffirmed a "buy" rating and issued a $60.00 price target on shares of Tractor Supply in a report on Friday, January 31st. Bank of America boosted their price objective on Tractor Supply from $44.00 to $53.00 and gave the stock an "underperform" rating in a research note on Thursday, January 16th. Finally, Loop Capital raised their target price on Tractor Supply from $53.00 to $58.00 and gave the stock a "hold" rating in a research note on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $59.22.

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.