JPMorgan Chase & Co. Increases Holdings in Tractor Supply (NASDAQ:TSCO)

JPMorgan Chase & Co. lifted its holdings in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 391.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,821,654 shares of the specialty retailer's stock after purchasing an additional 8,617,869 shares during the period. JPMorgan Chase & Co. owned 2.03% of Tractor Supply worth $574,197,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Elo Mutual Pension Insurance Co acquired a new stake in shares of Tractor Supply during the fourth quarter worth $2,956,000. WINTON GROUP Ltd bought a new stake in shares of Tractor Supply in the 4th quarter valued at $16,498,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Tractor Supply by 428.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 842,271 shares of the specialty retailer's stock worth $43,739,000 after acquiring an additional 682,963 shares in the last quarter. Korea Investment CORP grew its holdings in Tractor Supply by 459.7% in the fourth quarter. Korea Investment CORP now owns 87,600 shares of the specialty retailer's stock worth $4,648,000 after purchasing an additional 71,949 shares during the period. Finally, Motley Fool Wealth Management LLC increased its stake in Tractor Supply by 386.7% in the fourth quarter. Motley Fool Wealth Management LLC now owns 121,344 shares of the specialty retailer's stock valued at $6,439,000 after purchasing an additional 96,411 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Loop Capital boosted their target price on Tractor Supply from $53.00 to $58.00 and gave the company a "hold" rating in a research report on Thursday, December 12th. Telsey Advisory Group restated an "outperform" rating and set a $67.00 price target on shares of Tractor Supply in a research note on Thursday, January 30th. Barclays dropped their price objective on shares of 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. JPMorgan Chase & Co. upped their price target on Tractor Supply from $58.00 to $59.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Finally, Bank of America lifted their target price on shares of Tractor Supply from $44.00 to $53.00 and gave the stock an "underperform" rating in a research report on Thursday, January 16th. Two research 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 company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $59.22.

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Insider Activity

In other news, EVP Colin Yankee sold 24,602 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $54.15, for a total value of $1,332,198.30. Following the transaction, the executive vice president now owns 33,645 shares of the company's stock, valued at $1,821,876.75. This represents a 42.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Melissa Kersey sold 9,300 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 34,961 shares in the company, valued at approximately $1,858,876.37. This represents a 21.01 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 137,993 shares of company stock worth $7,538,068. 0.24% of the stock is currently owned by insiders.

Tractor Supply Price Performance

NASDAQ TSCO traded up $1.63 during trading hours on Monday, hitting $55.10. The company had a trading volume of 7,950,194 shares, compared to its average volume of 5,066,444. The firm has a 50 day simple moving average of $55.03 and a 200 day simple moving average of $55.66. The firm has a market capitalization of $29.42 billion, a price-to-earnings ratio of 27.01, a PEG ratio of 2.95 and a beta of 0.85. Tractor Supply has a 52 week low of $48.30 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.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 EPS for the quarter, missing analysts' consensus estimates of $2.28 by ($1.84). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. Equities research analysts expect that Tractor Supply will post 2.17 earnings per share for the current year.

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 issued a $0.92 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 annualized dividend and a dividend yield of 6.68%. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's dividend payout ratio (DPR) is presently 45.10%.

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

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.