Cynosure Group LLC Buys 4,931 Shares of Tractor Supply (NASDAQ:TSCO)

Cynosure Group LLC increased its stake in shares of Tractor Supply (NASDAQ:TSCO) by 322.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,460 shares of the specialty retailer’s stock after acquiring an additional 4,931 shares during the period. Cynosure Group LLC’s holdings in Tractor Supply were worth $343,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Pine Valley Investments Ltd Liability Co raised its stake in shares of Tractor Supply by 7.1% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 978 shares of the specialty retailer’s stock worth $285,000 after purchasing an additional 65 shares in the last quarter. Synergy Financial Group LTD raised its position in Tractor Supply by 12.4% during the third quarter. Synergy Financial Group LTD now owns 1,090 shares of the specialty retailer’s stock worth $317,000 after acquiring an additional 120 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in Tractor Supply by 0.5% in the third quarter. Rockefeller Capital Management L.P. now owns 27,710 shares of the specialty retailer’s stock valued at $8,058,000 after acquiring an additional 141 shares during the last quarter. Glen Eagle Advisors LLC grew its position in shares of Tractor Supply by 75.8% in the 3rd quarter. Glen Eagle Advisors LLC now owns 464 shares of the specialty retailer’s stock valued at $135,000 after acquiring an additional 200 shares during the period. Finally, Motley Fool Asset Management LLC grew its position in shares of Tractor Supply by 1.7% in the 3rd quarter. Motley Fool Asset Management LLC now owns 15,855 shares of the specialty retailer’s stock valued at $4,679,000 after acquiring an additional 266 shares during the period. 98.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on TSCO. Bank of America raised their target price 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. Guggenheim reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Tractor Supply in a research report on Friday, January 31st. Loop Capital boosted their target price on Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a report on Thursday, December 12th. JPMorgan Chase & Co. increased their price target on Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Finally, Barclays reduced 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. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $59.22.

Insider Transactions at Tractor Supply

In other news, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $54.59, for a total value of $4,809,106.05. Following the transaction, the chief executive officer now owns 488,852 shares in the company, valued at approximately $26,686,430.68. This trade represents a 15.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Colin Yankee sold 24,602 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $54.15, for a total value of $1,332,198.30. Following the completion of the sale, the executive vice president now directly owns 33,645 shares in the company, valued at $1,821,876.75. This trade represents a 42.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 137,993 shares of company stock valued at $7,538,068. Company insiders own 0.24% of the company’s stock.

Tractor Supply Trading Up 0.9 %

Shares of NASDAQ:TSCO opened at $55.62 on Thursday. The business’s 50 day simple moving average is $54.98 and its 200 day simple moving average is $55.64. 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 $29.70 billion, a P/E ratio of 27.26, a P/E/G ratio of 2.95 and a beta of 0.85.

Tractor Supply (NASDAQ:TSCO) last released its 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%. On average, 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 $0.92 dividend. The ex-dividend date was Wednesday, February 26th. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 annualized dividend and a dividend yield of 6.62%. Tractor Supply’s payout ratio is presently 45.10%.

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

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.