HighTower Advisors LLC Increases Stake in Tractor Supply (NASDAQ:TSCO)

HighTower Advisors LLC boosted its position in shares of Tractor Supply (NASDAQ:TSCO) by 415.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 231,140 shares of the specialty retailer’s stock after purchasing an additional 186,321 shares during the period. HighTower Advisors LLC’s holdings in Tractor Supply were worth $12,264,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Smithfield Trust Co lifted its position in Tractor Supply by 286.2% during the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 352 shares during the period. PrairieView Partners LLC lifted its position in Tractor Supply by 400.0% during the fourth quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 400 shares during the period. Future Financial Wealth Managment LLC lifted its position in Tractor Supply by 400.0% during the fourth 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 during the period. Archer Investment Corp lifted its position in Tractor Supply by 400.0% during the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 400 shares during the period. Finally, Kentucky Trust Co bought a new position in Tractor Supply during the fourth quarter valued at approximately $27,000. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Trading Up 0.3 %

TSCO stock opened at $51.83 on Monday. Tractor Supply has a 1-year low of $48.30 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 company has a market capitalization of $27.68 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 2.95 and a beta of 0.85. The business has a 50 day simple moving average of $55.19 and a two-hundred day simple moving average of $55.74.

Tractor Supply (NASDAQ:TSCO) last posted 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 return on equity of 49.01% and a net margin of 7.40%. Research analysts anticipate that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The company also recently announced 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. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 dividend on an annualized basis and a dividend yield of 7.10%. The ex-dividend date was Wednesday, February 26th. Tractor Supply’s dividend payout ratio is currently 45.10%.

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

Analyst Ratings Changes

A number of research analysts recently weighed in on TSCO shares. Bank of America increased their price objective on shares of Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a research report on Thursday, January 16th. JPMorgan Chase & Co. raised their price objective on shares of Tractor Supply from $58.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Telsey Advisory Group restated an “outperform” rating and set a $67.00 target price on shares of Tractor Supply in a research report on Thursday, January 30th. Mizuho boosted their target price on shares of Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Finally, Barclays cut their target price 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. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Tractor Supply currently has an average rating of “Moderate Buy” and an average target price of $59.22.

Insider Activity

In other news, SVP Matthew L. Rubin sold 3,850 shares of the company’s 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 sale, the senior vice president now directly owns 31,787 shares in the company, valued at approximately $1,833,792.03. This represents a 10.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kurt D. Barton sold 12,146 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $56.00, for a total transaction of $680,176.00. Following the sale, the chief financial officer now owns 47,715 shares in the company, valued at $2,672,040. This represents a 20.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 137,993 shares of company stock worth $7,538,068. 0.24% of the stock is currently owned by 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.