Tractor Supply (NASDAQ:TSCO) Shares Bought by Davis R M Inc.

Davis R M Inc. lifted its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 402.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 780,634 shares of the specialty retailer’s stock after buying an additional 625,387 shares during the period. Davis R M Inc. owned approximately 0.15% of Tractor Supply worth $41,420,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Baldwin Investment Management LLC boosted its position in shares of Tractor Supply by 0.3% during the third quarter. Baldwin Investment Management LLC now owns 11,402 shares of the specialty retailer’s stock worth $3,317,000 after buying an additional 38 shares during the period. Huntington National Bank boosted its position in shares of Tractor Supply by 0.7% during the third quarter. Huntington National Bank now owns 5,538 shares of the specialty retailer’s stock worth $1,611,000 after buying an additional 41 shares during the period. First Horizon Advisors Inc. boosted its position in shares of Tractor Supply by 13.2% during the third quarter. First Horizon Advisors Inc. now owns 351 shares of the specialty retailer’s stock worth $102,000 after buying an additional 41 shares during the period. Harbour Investments Inc. boosted its position in shares of Tractor Supply by 4.6% during the third quarter. Harbour Investments Inc. now owns 958 shares of the specialty retailer’s stock worth $279,000 after buying an additional 42 shares during the period. Finally, Cynosure Group LLC boosted its position in shares of Tractor Supply by 2.8% during the third quarter. Cynosure Group LLC now owns 1,529 shares of the specialty retailer’s stock worth $445,000 after buying an additional 42 shares during the period. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Tractor Supply Price Performance

TSCO opened at $57.21 on Tuesday. The stock has a fifty day moving average of $55.20 and a 200-day moving average of $55.79. The firm has a market capitalization of $30.55 billion, a P/E ratio of 28.04, a PEG ratio of 2.95 and a beta of 0.85. Tractor Supply has a 12-month low of $48.30 and a 12-month high of $61.53. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82.

Tractor Supply (NASDAQ:TSCO) last released its earnings results 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 net margin of 7.40% and a return on equity of 49.01%. Equities analysts forecast that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th will be issued a $0.92 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 6.43%. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio is presently 45.10%.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TSCO. Evercore ISI upgraded Tractor Supply from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 15th. JPMorgan Chase & Co. boosted their target price on Tractor Supply from $58.00 to $59.00 and gave the stock a “neutral” rating in a 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. Loop Capital boosted their target price on Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a report on Thursday, December 12th. Finally, Wells Fargo & Company dropped their target price on Tractor Supply from $65.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Two analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Tractor Supply presently has an average rating of “Moderate Buy” and a consensus target price of $59.22.

Insider Activity

In other news, EVP Melissa Kersey sold 9,300 shares of the company’s 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 transaction, the executive vice president now directly owns 34,961 shares of the company’s stock, valued at approximately $1,858,876.37. This represents a 21.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 stock was sold at an average price of $57.69, for a total transaction of $222,106.50. Following the completion of the transaction, the senior vice president now directly owns 31,787 shares in the company, valued at $1,833,792.03. This trade represents a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,993 shares of company stock worth $7,538,068 over the last quarter. Corporate 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.