Tractor Supply (NASDAQ:TSCO) Shares Purchased by Cannon Advisors Inc.

Cannon Advisors Inc. raised its position in Tractor Supply (NASDAQ:TSCO) by 330.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,870 shares of the specialty retailer’s stock after buying an additional 8,347 shares during the period. Cannon Advisors Inc.’s holdings in Tractor Supply were worth $577,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TSCO. Vanguard Group Inc. boosted its stake 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 worth $3,397,643,000 after acquiring an additional 51,031,178 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Tractor Supply by 401.8% in the 4th 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. boosted its stake in Tractor Supply by 403.3% during the 4th quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer’s stock worth $1,180,932,000 after purchasing an additional 17,834,643 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Tractor Supply by 403.2% during the fourth quarter. Geode Capital Management LLC now owns 14,519,937 shares of the specialty retailer’s stock worth $768,838,000 after buying an additional 11,634,249 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Tractor Supply by 391.0% during the fourth quarter. JPMorgan Chase & Co. now owns 10,821,654 shares of the specialty retailer’s stock worth $574,197,000 after buying an additional 8,617,869 shares in the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Tractor Supply Stock Performance

NASDAQ:TSCO opened at $55.10 on Tuesday. Tractor Supply has a fifty-two week low of $48.30 and a fifty-two week high of $61.53. 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 has a 50 day moving average price of $55.06 and a 200 day moving average price of $55.65. The stock has a market capitalization of $29.42 billion, a P/E ratio of 27.01, a PEG 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 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%. Equities research analysts forecast that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were paid a dividend of $0.92 per share. The ex-dividend date was Wednesday, February 26th. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 dividend on an annualized basis and a yield of 6.68%. Tractor Supply’s dividend payout ratio is 45.10%.

Tractor Supply announced that its board has initiated a share repurchase plan on Thursday, February 13th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the specialty retailer to buy up to 3.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TSCO. Bank of America raised their price target on shares of Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a research note on Thursday, January 16th. Barclays lowered their target price 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. Guggenheim restated a “buy” rating and issued a $60.00 price target on shares of Tractor Supply in a research report on Friday, January 31st. 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. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $67.00 target price on shares of Tractor Supply in a report on Thursday, January 30th. 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 issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $59.22.

Insider Transactions at Tractor Supply

In related news, EVP Colin Yankee sold 24,602 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $54.15, for a total transaction of $1,332,198.30. Following the sale, the executive vice president now directly owns 33,645 shares of the company’s stock, valued at $1,821,876.75. This represents a 42.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Harry A. Lawton III sold 88,095 shares of the firm’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 transaction of $4,809,106.05. Following the completion of the transaction, the chief executive officer now directly owns 488,852 shares of the company’s stock, valued at $26,686,430.68. This represents a 15.27 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 137,993 shares of company stock valued at $7,538,068. 0.24% of the stock is currently owned by corporate insiders.

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.