Tractor Supply (NASDAQ:TSCO) Position Lifted by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC raised its stake in shares of Tractor Supply (NASDAQ:TSCO) by 416.5% during the fourth quarter, HoldingsChannel reports. The fund owned 5,640 shares of the specialty retailer’s stock after acquiring an additional 4,548 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Tractor Supply were worth $299,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Harbour Investment Management LLC raised its holdings in shares of Tractor Supply by 400.0% during the fourth quarter. Harbour Investment Management LLC now owns 3,950 shares of the specialty retailer’s stock worth $210,000 after purchasing an additional 3,160 shares during the period. Copperwynd Financial LLC raised its holdings in shares of Tractor Supply by 574.0% during the fourth quarter. Copperwynd Financial LLC now owns 5,830 shares of the specialty retailer’s stock worth $309,000 after purchasing an additional 4,965 shares during the period. Hilton Capital Management LLC raised its holdings in shares of Tractor Supply by 341.8% during the fourth quarter. Hilton Capital Management LLC now owns 167,146 shares of the specialty retailer’s stock worth $8,869,000 after purchasing an additional 129,317 shares during the period. Postrock Partners LLC acquired a new stake in shares of Tractor Supply during the fourth quarter worth $2,240,000. Finally, Alpine Woods Capital Investors LLC raised its holdings in shares of Tractor Supply by 414.1% during the fourth quarter. Alpine Woods Capital Investors LLC now owns 48,200 shares of the specialty retailer’s stock worth $2,557,000 after purchasing an additional 38,825 shares during the period. 98.72% of the stock is currently owned by institutional investors.

Tractor Supply Stock Performance

NASDAQ:TSCO opened at $53.13 on Tuesday. Tractor Supply has a twelve month low of $48.30 and a twelve month high of $61.53. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. The company has a 50-day moving average of $55.18 and a 200-day moving average of $55.73. The firm has a market cap of $28.37 billion, a price-to-earnings ratio of 26.04, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85.

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

Tractor Supply Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were given a $0.92 dividend. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 annualized dividend and a dividend yield of 6.93%. The ex-dividend date of this dividend was Wednesday, February 26th. Tractor Supply’s dividend payout ratio (DPR) is 45.10%.

Tractor Supply announced that its board has initiated a share buyback plan on Thursday, February 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the specialty retailer to purchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

TSCO has been the topic of a number of research reports. Bank of America increased their target price 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 reaffirmed an “outperform” rating and issued a $67.00 price objective on shares of Tractor Supply in a report on Thursday, January 30th. Loop Capital increased their price objective on shares of Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a report on Thursday, December 12th. 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 report on Monday, December 30th. Finally, Mizuho raised their target price on shares of Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Two 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 MarketBeat, Tractor Supply presently has an average rating of “Moderate Buy” and an average price target of $59.22.

Insider Transactions at Tractor Supply

In related news, EVP Melissa Kersey sold 9,300 shares of the business’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 transaction 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. The trade was a 21.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Matthew L. Rubin sold 3,850 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now directly 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 have sold a total of 137,993 shares of company stock valued at $7,538,068 over the last ninety days. 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.