Tractor Supply (NASDAQ:TSCO) Shares Purchased by Harbour Investments Inc.

Harbour Investments Inc. lifted its stake in Tractor Supply (NASDAQ:TSCO) by 397.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,766 shares of the specialty retailer’s stock after acquiring an additional 3,808 shares during the quarter. Harbour Investments Inc.’s holdings in Tractor Supply were worth $253,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Corient Private Wealth LLC lifted its holdings in shares of Tractor Supply by 405.0% in the 4th quarter. Corient Private Wealth LLC now owns 866,509 shares of the specialty retailer’s stock worth $45,977,000 after acquiring an additional 694,912 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Tractor Supply by 404.2% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 28,365 shares of the specialty retailer’s stock worth $1,505,000 after acquiring an additional 22,739 shares during the last quarter. Pollock Investment Advisors LLC acquired a new position in shares of Tractor Supply in the 4th quarter worth approximately $1,492,000. Choate Investment Advisors lifted its holdings in shares of Tractor Supply by 389.7% in the 4th quarter. Choate Investment Advisors now owns 4,740 shares of the specialty retailer’s stock worth $252,000 after acquiring an additional 3,772 shares during the last quarter. Finally, Natixis Advisors LLC lifted its holdings in shares of Tractor Supply by 660.0% in the 4th quarter. Natixis Advisors LLC now owns 527,271 shares of the specialty retailer’s stock worth $27,977,000 after acquiring an additional 457,896 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Matthew L. Rubin sold 3,850 shares of the stock in a transaction on 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 in the company, valued at $1,833,792.03. This represents a 10.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Colin Yankee sold 24,602 shares of the stock in a transaction on Tuesday, February 11th. The stock was 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 owns 33,645 shares of the company’s stock, valued at approximately $1,821,876.75. This represents a 42.24 % 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. Company insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TSCO. Mizuho increased their target price on shares of Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. increased their target price 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. Guggenheim reiterated a “buy” rating and set a $60.00 target price on shares of Tractor Supply in a report on Friday, January 31st. Telsey Advisory Group reiterated an “outperform” rating and set a $67.00 target price on shares of Tractor Supply in a report on Thursday, January 30th. Finally, Barclays reduced their target price on shares of Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating on the stock in a report on Monday, December 30th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $59.22.

Tractor Supply Trading Up 1.2 %

NASDAQ TSCO opened at $52.46 on Friday. 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 firm’s fifty day moving average price is $55.03 and its 200 day moving average price is $55.67. The company has a market capitalization of $28.01 billion, a price-to-earnings ratio of 25.72, a price-to-earnings-growth 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.

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

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

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 paid a dividend of $0.92 per share. 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 7.01%. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio is currently 45.10%.

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.