Envestnet Asset Management Inc. Has $259.19 Million Stock Holdings in Tractor Supply (NASDAQ:TSCO)

Envestnet Asset Management Inc. lifted its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 383.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,884,923 shares of the specialty retailer’s stock after purchasing an additional 3,874,333 shares during the period. Envestnet Asset Management Inc. owned 0.91% of Tractor Supply worth $259,194,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd boosted its holdings in shares of Tractor Supply by 82.6% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 7,850 shares of the specialty retailer’s stock worth $417,000 after buying an additional 3,550 shares in the last quarter. Aviva PLC lifted its position in shares of Tractor Supply by 390.9% during the 4th quarter. Aviva PLC now owns 802,685 shares of the specialty retailer’s stock valued at $42,590,000 after acquiring an additional 639,173 shares during the period. Resona Asset Management Co. Ltd. bought a new position in Tractor Supply during the fourth quarter worth $9,363,000. Islay Capital Management LLC grew its holdings in Tractor Supply by 407.2% in the fourth quarter. Islay Capital Management LLC now owns 19,100 shares of the specialty retailer’s stock worth $1,013,000 after purchasing an additional 15,334 shares during the period. Finally, Somerville Kurt F grew its holdings in Tractor Supply by 400.0% in the fourth quarter. Somerville Kurt F now owns 7,500 shares of the specialty retailer’s stock worth $398,000 after purchasing an additional 6,000 shares during the period. Institutional investors and hedge funds own 98.72% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TSCO. Guggenheim reiterated a “buy” rating and set a $60.00 price objective on shares of Tractor Supply in a report on Friday, January 31st. Loop Capital upped their price target on Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a research note on Thursday, December 12th. JPMorgan Chase & Co. raised their price objective on Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Mizuho upped their target price on Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Finally, Bank of America increased their target price on Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a report on Thursday, January 16th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $59.22.

Tractor Supply Price Performance

Shares of NASDAQ TSCO opened at $52.40 on Friday. The company has a market capitalization of $27.86 billion, a PE ratio of 25.69, a PEG ratio of 2.95 and a beta of 0.88. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. The stock’s 50 day moving average price is $54.84 and its 200-day moving average price is $55.61. Tractor Supply has a twelve month low of $48.30 and a twelve month high of $61.53.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data 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 return on equity of 49.01% and a net margin of 7.40%. On average, equities analysts anticipate that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were given a dividend of $0.92 per share. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 annualized dividend and a yield of 7.02%. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio is presently 45.10%.

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

Insider Buying and Selling

In other Tractor Supply news, CEO Harry A. Lawton III sold 88,095 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $54.59, for a total transaction of $4,809,106.05. Following the completion of the transaction, the chief executive officer now directly owns 488,852 shares of the company’s stock, valued at approximately $26,686,430.68. This represents a 15.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $222,106.50. Following the completion of the sale, the senior vice president now owns 31,787 shares in the company, valued at approximately $1,833,792.03. The trade was a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 137,993 shares of company stock worth $7,538,068. Insiders own 0.24% of the company’s stock.

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.