730 Shares in Tractor Supply (NASDAQ:TSCO) Acquired by OFI Invest Asset Management

OFI Invest Asset Management acquired a new position in shares of Tractor Supply (NASDAQ:TSCO) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 730 shares of the specialty retailer’s stock, valued at approximately $37,000.

Other large investors have also recently modified their holdings of the company. Smithfield Trust Co raised its stake in shares of Tractor Supply by 286.2% during the 4th quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer’s stock worth $25,000 after acquiring an additional 352 shares in the last quarter. PrairieView Partners LLC increased its stake in Tractor Supply by 400.0% during the 4th quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 400 shares in the last quarter. Future Financial Wealth Managment LLC increased its stake in Tractor Supply by 400.0% during the 4th quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 400 shares in the last quarter. Archer Investment Corp increased its stake in Tractor Supply by 400.0% during the 4th quarter. Archer Investment Corp now owns 500 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 400 shares in the last quarter. Finally, Kentucky Trust Co acquired a new position in Tractor Supply during the 4th quarter valued at approximately $27,000. Institutional investors own 98.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Loop Capital upped their price target on shares of Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, December 12th. Mizuho upped their price target on shares of Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Bank of America upped their price target on shares of Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a research note on Thursday, January 16th. Wells Fargo & Company cut their price target on shares of Tractor Supply from $65.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $67.00 price objective on shares of Tractor Supply in a report on Thursday, January 30th. Two 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $59.22.

Tractor Supply Stock Performance

Shares of NASDAQ TSCO opened at $57.21 on Tuesday. The company’s fifty day moving average price is $55.20 and its 200 day moving average price is $55.79. Tractor Supply has a 1 year low of $48.30 and a 1 year high of $61.53. The company has a market capitalization of $30.55 billion, a PE ratio of 28.04, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, research analysts predict that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th will be issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 6.43%. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date is Wednesday, February 26th. Tractor Supply’s dividend payout ratio (DPR) is presently 45.10%.

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

Insider Buying and Selling at Tractor Supply

In other news, CEO Harry A. Lawton III sold 88,095 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 488,852 shares in the company, valued at $26,686,430.68. This represents a 15.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Matthew L. Rubin sold 3,850 shares of the stock in a transaction dated 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 sale, the senior vice president now owns 31,787 shares of the company’s stock, valued at $1,833,792.03. This trade represents a 10.80 % 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 over the last ninety days. Corporate insiders own 0.24% of the company’s stock.

About Tractor Supply

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.