Tractor Supply (NASDAQ:TSCO) Shares Acquired by Signature Estate & Investment Advisors LLC

Signature Estate & Investment Advisors LLC boosted its holdings in Tractor Supply (NASDAQ:TSCO) by 403.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 4,640 shares of the specialty retailer’s stock after acquiring an additional 3,718 shares during the period. Signature Estate & Investment Advisors LLC’s holdings in Tractor Supply were worth $246,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Tractor Supply by 392.5% in the fourth quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer’s stock valued at $3,397,643,000 after purchasing an additional 51,031,178 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Tractor Supply during the 4th quarter valued at $329,458,000. Meridiem Investment Management Ltd. increased its position in Tractor Supply by 398.9% during the fourth quarter. Meridiem Investment Management Ltd. now owns 5,118,785 shares of the specialty retailer’s stock worth $271,674,000 after buying an additional 4,092,808 shares in the last quarter. Amundi raised its holdings in shares of Tractor Supply by 495.2% in the fourth quarter. Amundi now owns 4,145,992 shares of the specialty retailer’s stock worth $225,501,000 after acquiring an additional 3,449,442 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Tractor Supply by 403.3% in the fourth quarter. Bank of New York Mellon Corp now owns 3,912,752 shares of the specialty retailer’s stock worth $207,611,000 after acquiring an additional 3,135,384 shares during the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, EVP Melissa Kersey sold 9,300 shares of the stock in a transaction 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 in the company, valued at $1,858,876.37. This represents a 21.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Matthew L. Rubin sold 3,850 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now directly owns 31,787 shares of the company’s stock, valued at $1,833,792.03. The trade was a 10.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 137,993 shares of company stock worth $7,538,068 in the last 90 days. 0.58% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

TSCO has been the topic of a number of analyst reports. Loop Capital lifted their price objective on Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a research report on Thursday, December 12th. Guggenheim reiterated a “buy” rating and set a $60.00 price target on shares of Tractor Supply in a report on Friday, January 31st. Barclays cut their price objective on shares of Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a research report on Monday, December 30th. Bank of America raised their target price 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. Finally, JPMorgan Chase & Co. boosted their price target on Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.22.

Tractor Supply Trading Up 0.5 %

TSCO opened at $54.16 on Friday. The firm’s 50 day moving average is $55.03 and its 200-day moving average is $55.65. Tractor Supply has a 52-week low of $48.30 and a 52-week 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. The firm has a market capitalization of $28.92 billion, a P/E ratio of 26.55, a P/E/G ratio of 2.95 and a beta of 0.85.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share (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%. Analysts expect that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were issued a $0.92 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a yield of 6.79%. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio is currently 45.10%.

Tractor Supply announced that its Board of Directors has authorized a stock buyback plan on Thursday, February 13th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the specialty retailer to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

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.