King Luther Capital Management Corp Has $121.42 Million Stock Position in Tractor Supply (NASDAQ:TSCO)

King Luther Capital Management Corp raised its stake in Tractor Supply (NASDAQ:TSCO) by 403.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,288,400 shares of the specialty retailer’s stock after acquiring an additional 1,834,110 shares during the quarter. King Luther Capital Management Corp owned about 0.43% of Tractor Supply worth $121,422,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSCO. Raymond James Financial Inc. acquired a new stake in Tractor Supply in the 4th quarter valued at about $329,458,000. Meridiem Investment Management Ltd. increased its position in Tractor Supply by 398.9% in the 4th quarter. Meridiem Investment Management Ltd. now owns 5,118,785 shares of the specialty retailer’s stock valued at $271,674,000 after acquiring an additional 4,092,808 shares in the last quarter. Amundi increased its position in Tractor Supply by 495.2% in the 4th quarter. Amundi now owns 4,145,992 shares of the specialty retailer’s stock valued at $225,501,000 after acquiring an additional 3,449,442 shares in the last quarter. Bank of New York Mellon Corp increased its position in Tractor Supply by 403.3% in the 4th quarter. Bank of New York Mellon Corp now owns 3,912,752 shares of the specialty retailer’s stock valued at $207,611,000 after acquiring an additional 3,135,384 shares in the last quarter. Finally, Alecta Tjanstepension Omsesidigt increased its position in Tractor Supply by 400.0% in the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 3,750,000 shares of the specialty retailer’s stock valued at $199,012,000 after acquiring an additional 3,000,000 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Insider Buying and Selling

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of the company’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 transaction, the senior vice president now directly owns 31,787 shares in the company, valued at $1,833,792.03. The trade was a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Melissa Kersey sold 9,300 shares of the company’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 completion of the transaction, the executive vice president now owns 34,961 shares in the company, valued at approximately $1,858,876.37. This represents a 21.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,993 shares of company stock worth $7,538,068. Insiders own 0.24% of the company’s stock.

Tractor Supply Price Performance

NASDAQ TSCO opened at $57.21 on Tuesday. 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 12-month low of $48.30 and a 12-month high of $61.53. The company has a market capitalization of $30.55 billion, a PE ratio of 28.04, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. The firm’s 50 day moving average is $55.20 and its 200-day moving average is $55.79.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data 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 net margin of 7.40% and a return on equity of 49.01%. Equities research analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

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

Tractor Supply Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th will be issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 6.43%. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date is Wednesday, February 26th. Tractor Supply’s payout ratio is presently 45.10%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TSCO shares. Barclays lowered their price target on shares of 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. Mizuho lifted their price target on shares of Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Wells Fargo & Company reduced their price objective on shares of Tractor Supply from $65.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Loop Capital lifted their price objective on shares of Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a research note on Thursday, December 12th. Finally, Guggenheim reissued a “buy” rating and set a $60.00 price objective on shares of Tractor Supply in a research note on Friday, January 31st. Two research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.