Beck Mack & Oliver LLC Acquires 10,059 Shares of Tractor Supply (NASDAQ:TSCO)

Beck Mack & Oliver LLC raised its stake in shares of Tractor Supply (NASDAQ:TSCO) by 400.0% in the 4th quarter, Holdings Channel reports. The firm owned 12,574 shares of the specialty retailer’s stock after purchasing an additional 10,059 shares during the quarter. Beck Mack & Oliver LLC’s holdings in Tractor Supply were worth $667,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of TSCO. Vanguard Group Inc. grew its position in shares of Tractor Supply by 392.5% during the 4th quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer’s stock worth $3,397,643,000 after buying an additional 51,031,178 shares during the period. Wellington Management Group LLP increased its stake in Tractor Supply by 401.8% in the fourth quarter. Wellington Management Group LLP now owns 23,789,249 shares of the specialty retailer’s stock valued at $1,262,258,000 after purchasing an additional 19,048,385 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Tractor Supply by 403.3% during the fourth quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer’s stock valued at $1,180,932,000 after purchasing an additional 17,834,643 shares during the period. Capital World Investors boosted its position in shares of Tractor Supply by 403.7% during the 4th quarter. Capital World Investors now owns 19,433,135 shares of the specialty retailer’s stock worth $1,031,122,000 after purchasing an additional 15,575,311 shares in the last quarter. Finally, Capital International Investors grew its stake in shares of Tractor Supply by 334.7% in the 4th quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer’s stock valued at $818,421,000 after buying an additional 11,880,010 shares during the period. 98.72% of the stock is owned by institutional investors.

Tractor Supply Stock Performance

Shares of TSCO opened at $50.11 on Friday. Tractor Supply has a 1 year low of $46.97 and a 1 year high of $61.53. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. The stock’s fifty day moving average price is $53.74 and its two-hundred day moving average price is $55.13. The firm has a market cap of $26.64 billion, a PE ratio of 24.56, a PEG ratio of 2.95 and a beta of 0.88.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data 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 net margin of 7.40% and a return on equity of 49.01%. On average, equities research analysts forecast that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 7.34%. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, February 26th. Tractor Supply’s payout ratio is currently 45.10%.

Tractor Supply announced that its Board of Directors has initiated a share buyback plan on Thursday, February 13th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the specialty retailer to reacquire up to 3.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Barclays cut their price target on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating on the stock in a report on Monday, December 30th. Stephens began coverage on shares of Tractor Supply in a report on Wednesday, April 9th. They set an “equal weight” rating and a $56.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Bank of America upped 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. Finally, Mizuho lifted their price target on Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Tractor Supply currently has a consensus rating of “Moderate Buy” and an average price target of $59.07.

Insiders Place Their Bets

In related news, 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 completion of the transaction, the senior vice president now owns 31,787 shares of the company’s stock, valued at approximately $1,833,792.03. The trade was a 10.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Colin Yankee sold 24,602 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $54.15, for a total transaction of $1,332,198.30. Following the completion of the sale, the executive vice president now owns 33,645 shares in the company, valued at $1,821,876.75. This represents a 42.24 % 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 worth $7,538,068 over the last 90 days. Corporate insiders own 0.24% of the company’s stock.

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.