Tractor Supply (NASDAQ:TSCO) Stock Position Raised by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC boosted its position in shares of Tractor Supply (NASDAQ:TSCO) by 385.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,089,542 shares of the specialty retailer’s stock after purchasing an additional 865,273 shares during the period. CIBC Private Wealth Group LLC’s holdings in Tractor Supply were worth $59,260,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in TSCO. Vanguard Group Inc. grew its holdings in shares of Tractor Supply by 392.5% during the fourth quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer’s stock valued at $3,397,643,000 after buying an additional 51,031,178 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Tractor Supply by 391.0% during the 4th quarter. JPMorgan Chase & Co. now owns 10,821,654 shares of the specialty retailer’s stock worth $574,197,000 after acquiring an additional 8,617,869 shares during the period. Raymond James Financial Inc. purchased a new position in Tractor Supply during the 4th quarter valued at about $329,458,000. Norges Bank acquired a new position in shares of Tractor Supply in the 4th quarter valued at about $289,491,000. Finally, Meridiem Investment Management Ltd. lifted its position in shares of Tractor Supply by 398.9% in the fourth quarter. Meridiem Investment Management Ltd. now owns 5,118,785 shares of the specialty retailer’s stock worth $271,674,000 after purchasing an additional 4,092,808 shares in the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tractor Supply

In other Tractor Supply news, 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 value of $494,481.00. Following the sale, the executive vice president now owns 34,961 shares of the company’s stock, valued at $1,858,876.37. The trade was a 21.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction, the senior vice president now owns 31,787 shares of the company’s stock, valued at approximately $1,833,792.03. This represents a 10.80 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 137,993 shares of company stock worth $7,538,068. 0.24% of the stock is owned by corporate insiders.

Tractor Supply Price Performance

Shares of Tractor Supply stock opened at $53.47 on Monday. 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 cap of $28.55 billion, a PE ratio of 26.21, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. The firm has a fifty day moving average price of $55.03 and a two-hundred day moving average price of $55.66. Tractor Supply has a fifty-two week low of $48.30 and a fifty-two week high of $61.53.

Tractor Supply (NASDAQ:TSCO) last released its 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 net margin of 7.40% and a return on equity of 49.01%. Analysts expect that Tractor Supply will post 2.17 EPS for the current year.

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

Tractor Supply Increases Dividend

The company also recently disclosed 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. 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 dividend on an annualized basis and a dividend yield of 6.88%. Tractor Supply’s payout ratio is currently 45.10%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Mizuho upped their price objective on shares of Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. upped their price target on shares of Tractor Supply from $58.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Barclays reduced their price objective on 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. Guggenheim reaffirmed a “buy” rating and issued a $60.00 target price on shares of Tractor Supply in a research report on Friday, January 31st. Finally, Loop Capital raised their price target on shares of Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Tractor Supply presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.22.

Tractor Supply 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.