Johnson Investment Counsel Inc. Has $590,000 Stake in Tractor Supply (NASDAQ:TSCO)

Johnson Investment Counsel Inc. grew its position in Tractor Supply (NASDAQ:TSCO) by 1,471.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,125 shares of the specialty retailer’s stock after buying an additional 10,417 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Tractor Supply were worth $590,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Providence Capital Advisors LLC acquired a new position in shares of Tractor Supply in the 3rd quarter valued at approximately $32,000. Assetmark Inc. raised its position in shares of Tractor Supply by 2,383.3% in the 3rd quarter. Assetmark Inc. now owns 149 shares of the specialty retailer’s stock valued at $43,000 after buying an additional 143 shares in the last quarter. Larson Financial Group LLC raised its position in shares of Tractor Supply by 29.4% in the 3rd quarter. Larson Financial Group LLC now owns 286 shares of the specialty retailer’s stock valued at $83,000 after buying an additional 65 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Tractor Supply in the 3rd quarter valued at approximately $90,000. Finally, First Horizon Advisors Inc. raised its position in shares of Tractor Supply by 13.2% in the 3rd quarter. First Horizon Advisors Inc. now owns 351 shares of the specialty retailer’s stock valued at $102,000 after buying an additional 41 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Tractor Supply Stock Down 2.9 %

Shares of NASDAQ TSCO opened at $52.36 on Thursday. The company has a market capitalization of $27.96 billion, a P/E ratio of 25.67, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. Tractor Supply has a 52-week low of $48.30 and a 52-week high of $61.53. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. The company’s 50 day moving average price is $55.21 and its 200-day moving average price is $55.77.

Tractor Supply (NASDAQ:TSCO) last issued 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%. Equities analysts forecast that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply declared that its board has authorized a stock buyback program on Thursday, February 13th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to reacquire up to 3.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Tractor Supply Increases Dividend

The company also recently declared 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 of this dividend was Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 7.03%. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s payout ratio is 45.10%.

Insider Activity at Tractor Supply

In related news, SVP Matthew L. Rubin sold 3,850 shares of the business’s 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 transaction, the senior vice president now owns 31,787 shares in the company, valued at $1,833,792.03. The trade was a 10.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Melissa Kersey sold 9,300 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $53.17, for a total transaction of $494,481.00. Following the transaction, the executive vice president now owns 34,961 shares in the company, valued at $1,858,876.37. The trade was a 21.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 137,993 shares of company stock worth $7,538,068 in the last quarter. Company insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on TSCO shares. 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. Bank of America lifted their price target on shares of Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a report on Thursday, January 16th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $67.00 price target on shares of Tractor Supply in a report on Thursday, January 30th. Evercore ISI raised shares of Tractor Supply from a “hold” rating to a “strong-buy” rating in a report on Friday, November 15th. Finally, Barclays decreased their price target 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 investment analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $59.22.

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.