Pollock Investment Advisors LLC Takes Position in Tractor Supply (NASDAQ:TSCO)

Pollock Investment Advisors LLC acquired a new stake in shares of Tractor Supply (NASDAQ:TSCO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 28,113 shares of the specialty retailer’s stock, valued at approximately $1,492,000. Tractor Supply accounts for about 1.2% of Pollock Investment Advisors LLC’s investment portfolio, making the stock its 10th largest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Choate Investment Advisors increased its position in Tractor Supply by 389.7% during the fourth quarter. Choate Investment Advisors now owns 4,740 shares of the specialty retailer’s stock valued at $252,000 after acquiring an additional 3,772 shares during the last quarter. Natixis Advisors LLC grew its stake in shares of Tractor Supply by 660.0% during the 4th quarter. Natixis Advisors LLC now owns 527,271 shares of the specialty retailer’s stock valued at $27,977,000 after purchasing an additional 457,896 shares during the period. Frank Rimerman Advisors LLC increased its position in shares of Tractor Supply by 416.5% during the 4th quarter. Frank Rimerman Advisors LLC now owns 5,640 shares of the specialty retailer’s stock valued at $299,000 after purchasing an additional 4,548 shares during the last quarter. Harbour Investment Management LLC lifted its stake in shares of Tractor Supply by 400.0% in the 4th 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. Finally, Copperwynd Financial LLC boosted its holdings in shares of Tractor Supply by 574.0% in the fourth quarter. Copperwynd Financial LLC now owns 5,830 shares of the specialty retailer’s stock worth $309,000 after buying an additional 4,965 shares during the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $57.69, for a total value of $222,106.50. Following the completion of the transaction, the senior vice president now owns 31,787 shares in the company, valued at approximately $1,833,792.03. This trade represents a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Harry A. Lawton III sold 88,095 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $54.59, for a total value of $4,809,106.05. Following the sale, 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 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 in the last quarter. 0.24% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on TSCO. Barclays reduced 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 report on Monday, December 30th. Telsey Advisory Group restated an “outperform” rating and issued a $67.00 price objective on shares of Tractor Supply in a research note on Thursday, January 30th. Guggenheim reiterated a “buy” rating and set a $60.00 target price on shares of Tractor Supply in a research report on Friday, January 31st. Mizuho boosted their price target on Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Finally, Wells Fargo & Company decreased their price objective on Tractor Supply from $65.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Tractor Supply presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.22.

Tractor Supply Price Performance

TSCO stock opened at $51.83 on Friday. 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 fifty day moving average price is $55.19 and its 200-day moving average price is $55.73. Tractor Supply has a one year low of $48.30 and a one year high of $61.53. The company has a market capitalization of $27.68 billion, a PE ratio of 25.41, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 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%. On average, equities analysts anticipate that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply declared that its board has authorized a stock buyback plan on Thursday, February 13th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to reacquire up to 3.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Tractor Supply Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 7.10%. The ex-dividend date was Wednesday, February 26th. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio (DPR) is currently 45.10%.

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.