Somerville Kurt F Has $398,000 Stock Holdings in Tractor Supply (NASDAQ:TSCO)

Somerville Kurt F boosted its stake in Tractor Supply (NASDAQ:TSCO) by 400.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,500 shares of the specialty retailer’s stock after purchasing an additional 6,000 shares during the period. Somerville Kurt F’s holdings in Tractor Supply were worth $398,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TSCO. Smith Moore & CO. boosted its position in Tractor Supply by 381.8% during the fourth quarter. Smith Moore & CO. now owns 24,901 shares of the specialty retailer’s stock valued at $1,321,000 after acquiring an additional 19,733 shares during the last quarter. Prudential PLC boosted its position in shares of Tractor Supply by 360.9% during the 4th quarter. Prudential PLC now owns 243,151 shares of the specialty retailer’s stock valued at $12,902,000 after purchasing an additional 190,396 shares in the last quarter. Landscape Capital Management L.L.C. grew its stake in Tractor Supply by 153.3% during the fourth quarter. Landscape Capital Management L.L.C. now owns 14,213 shares of the specialty retailer’s stock worth $754,000 after purchasing an additional 8,601 shares during the period. PAX Financial Group LLC lifted its stake in Tractor Supply by 384.9% in the fourth quarter. PAX Financial Group LLC now owns 14,668 shares of the specialty retailer’s stock valued at $778,000 after buying an additional 11,643 shares during the period. Finally, Thoroughbred Financial Services LLC boosted its holdings in shares of Tractor Supply by 394.2% during the 4th quarter. Thoroughbred Financial Services LLC now owns 86,223 shares of the specialty retailer’s stock worth $4,575,000 after buying an additional 68,775 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors.

Tractor Supply Stock Performance

Shares of TSCO stock opened at $55.77 on Friday. The firm’s 50 day moving average is $54.95 and its 200 day moving average is $55.64. The stock has a market capitalization of $29.78 billion, a P/E ratio of 27.34, 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 current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82.

Tractor Supply (NASDAQ:TSCO) last released its quarterly 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 net margin of 7.40% and a return on equity of 49.01%. On average, sell-side analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply declared that its Board of Directors has approved a stock buyback program on Thursday, February 13th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the specialty retailer to purchase up to 3.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Tractor Supply Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were given a dividend of $0.92 per share. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 annualized dividend and a dividend yield of 6.60%. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio (DPR) is 45.10%.

Insider Transactions at Tractor Supply

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 completion of the sale, the executive vice president now owns 34,961 shares of the company’s stock, valued at approximately $1,858,876.37. This represents a 21.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $54.59, for a total value of $4,809,106.05. Following the completion of the transaction, the chief executive officer now owns 488,852 shares in the company, valued at approximately $26,686,430.68. This represents a 15.27 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 137,993 shares of company stock valued at $7,538,068. Insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on TSCO shares. Bank of America increased their price objective 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. Mizuho raised their target price on Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Guggenheim reiterated a “buy” rating and set a $60.00 price target on shares of Tractor Supply in a report on Friday, January 31st. Loop Capital raised their price objective on Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. upped their target price on shares of Tractor Supply from $58.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Two equities 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’s stock. According to MarketBeat.com, Tractor Supply currently has a consensus rating of “Moderate Buy” and an average price target of $59.22.

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.