Tractor Supply (NASDAQ:TSCO) Shares Purchased by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC raised its holdings in Tractor Supply (NASDAQ:TSCO) by 385.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 owned about 0.20% of Tractor Supply worth $59,260,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of research firms have commented on TSCO. Guggenheim reaffirmed 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 research note on Thursday, January 30th. JPMorgan Chase & Co. raised their price target on shares of Tractor Supply from $58.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Loop Capital boosted their price objective on shares of Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a research report on Thursday, December 12th. Finally, Bank of America increased their price objective on shares of Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a research note on Thursday, January 16th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Tractor Supply currently has an average rating of “Moderate Buy” and a consensus target price of $59.22.

Tractor Supply Price Performance

Shares of NASDAQ TSCO opened at $53.47 on Monday. The firm’s 50-day simple moving average is $55.03 and its 200 day simple moving average is $55.66. The stock has a market cap of $28.55 billion, a P/E ratio of 26.21, a P/E/G ratio of 2.95 and a beta of 0.85. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. 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 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%. Equities analysts expect that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were paid a dividend of $0.92 per share. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 dividend on an annualized basis and a yield of 6.88%. The ex-dividend date was Wednesday, February 26th. Tractor Supply’s dividend payout ratio (DPR) is presently 45.10%.

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

Insider Activity

In other Tractor Supply news, CEO Harry A. Lawton III sold 88,095 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $54.59, for a total value of $4,809,106.05. Following the sale, the chief executive officer now directly owns 488,852 shares in the company, valued at approximately $26,686,430.68. The trade was a 15.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 transaction of $1,332,198.30. Following the transaction, the executive vice president now owns 33,645 shares of the company’s stock, valued at approximately $1,821,876.75. This trade represents a 42.24 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 137,993 shares of company stock worth $7,538,068. 0.24% of the stock is owned by company insiders.

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.