Commonwealth Equity Services LLC lifted its position in Tractor Supply (NASDAQ:TSCO – Get Rating) by 15.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,380 shares of the specialty retailer’s stock after purchasing an additional 4,605 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Tractor Supply were worth $7,734,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the stock. Romano Brothers AND Company bought a new position in shares of Tractor Supply in the 4th quarter worth approximately $31,000. Glass Jacobson Investment Advisors llc bought a new stake in shares of Tractor Supply in the fourth quarter worth about $35,000. Guardian Wealth Advisors LLC purchased a new position in shares of Tractor Supply during the third quarter valued at approximately $34,000. Align Wealth Management LLC purchased a new stake in Tractor Supply during the fourth quarter worth $37,000. Finally, Ronald Blue Trust Inc. lifted its holdings in Tractor Supply by 36.3% during the fourth quarter. Ronald Blue Trust Inc. now owns 214 shares of the specialty retailer’s stock worth $40,000 after buying an additional 57 shares during the period. 84.13% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on TSCO. MKM Partners increased their price objective on Tractor Supply from $230.00 to $255.00 and gave the company a “buy” rating in a report on Thursday, January 19th. Gordon Haskett raised shares of Tractor Supply from an “accumulate” rating to a “buy” rating and raised their price target for the company from $235.00 to $255.00 in a research note on Friday, February 10th. Robert W. Baird raised their target price on shares of Tractor Supply from $240.00 to $265.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 18th. Barclays assumed coverage on shares of Tractor Supply in a research report on Tuesday, February 7th. They set an “overweight” rating and a $254.00 price target on the stock. Finally, Cowen assumed coverage on shares of Tractor Supply in a report on Thursday, February 16th. They issued a “market perform” rating and a $245.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Tractor Supply presently has an average rating of “Moderate Buy” and an average price target of $250.62.
Tractor Supply Price Performance
Tractor Supply (NASDAQ:TSCO – Get Rating) last announced its quarterly earnings data on Thursday, April 27th. The specialty retailer reported $1.65 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.04). The company had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.31 billion. Tractor Supply had a return on equity of 55.53% and a net margin of 7.49%. Tractor Supply’s revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.65 earnings per share. Equities research analysts expect that Tractor Supply will post 10.49 EPS for the current fiscal year.
Tractor Supply Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 14th. Shareholders of record on Monday, February 27th were issued a dividend of $1.03 per share. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.92. This represents a $4.12 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend was Friday, February 24th. Tractor Supply’s dividend payout ratio (DPR) is currently 42.43%.
Insiders Place Their Bets
In other news, CEO Harry A. Lawton III sold 20,067 shares of the firm’s stock in a transaction dated Thursday, February 9th. The shares were sold at an average price of $231.21, for a total value of $4,639,691.07. Following the transaction, the chief executive officer now directly owns 84,734 shares in the company, valued at approximately $19,591,348.14. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Kurt D. Barton sold 10,020 shares of Tractor Supply stock in a transaction dated Thursday, February 9th. The shares were sold at an average price of $231.21, for a total value of $2,316,724.20. Following the sale, the chief financial officer now directly owns 37,152 shares in the company, valued at approximately $8,589,913.92. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Harry A. Lawton III sold 20,067 shares of Tractor Supply stock in a transaction dated Thursday, February 9th. The shares were sold at an average price of $231.21, for a total transaction of $4,639,691.07. Following the completion of the sale, the chief executive officer now owns 84,734 shares in the company, valued at $19,591,348.14. The disclosure for this sale can be found here. Insiders sold a total of 39,426 shares of company stock valued at $9,174,310 in the last ninety days. Corporate insiders own 0.24% of the company’s stock.
About Tractor Supply
Tractor Supply Co engages in the retail sale of farm and ranch products. It operates retail farm & ranch stores and focuses on supplying the lifestyle needs of recreational farmers and ranchers, as well as tradesmen and small businesses. The firm operates the retail stores under the names: Tractor Supply Company, Orscheln Farm & Home, and Petsense.
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