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

Johnson Investment Counsel Inc. boosted its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 1,471.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,125 shares of the specialty retailer’s stock after buying an additional 10,417 shares during the period. Johnson Investment Counsel Inc.’s holdings in Tractor Supply were worth $590,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Keb Asset Management LLC grew its stake in shares of Tractor Supply by 328.6% in the 4th quarter. Keb Asset Management LLC now owns 5,255 shares of the specialty retailer’s stock worth $279,000 after acquiring an additional 4,029 shares in the last quarter. Tiemann Investment Advisors LLC grew its stake in shares of Tractor Supply by 400.0% in the 4th quarter. Tiemann Investment Advisors LLC now owns 5,175 shares of the specialty retailer’s stock worth $275,000 after acquiring an additional 4,140 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Tractor Supply by 411.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 90,711 shares of the specialty retailer’s stock worth $4,814,000 after acquiring an additional 72,985 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Tractor Supply by 379.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 890,898 shares of the specialty retailer’s stock worth $47,271,000 after acquiring an additional 704,896 shares in the last quarter. Finally, Schwarz Dygos Wheeler Investment Advisors LLC grew its stake in shares of Tractor Supply by 483.5% in the 4th quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 6,990 shares of the specialty retailer’s stock worth $371,000 after acquiring an additional 5,792 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on TSCO shares. Bank of America upped their target price 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. Wells Fargo & Company reduced their target price on shares of Tractor Supply from $65.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. JPMorgan Chase & Co. upped their target price 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 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. Finally, Guggenheim restated a “buy” rating and set a $60.00 price target on shares of Tractor Supply in a research report on Friday, January 31st. Two analysts have rated the stock with a sell rating, six have issued 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.com, Tractor Supply presently 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 $52.36 on Thursday. 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 firm has a market capitalization of $27.96 billion, a PE ratio of 25.67, a P/E/G ratio of 2.95 and a beta of 0.85. Tractor Supply has a twelve month low of $48.30 and a twelve month high of $61.53. The company has a 50-day moving average price of $55.21 and a two-hundred day moving average price of $55.77.

Tractor Supply (NASDAQ:TSCO) last announced 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 EPS for the current year.

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 issued a $0.92 dividend. 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. The ex-dividend date of this dividend was Wednesday, February 26th. Tractor Supply’s dividend payout ratio is presently 45.10%.

Tractor Supply announced that its Board of Directors has authorized a share 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 repurchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Tractor Supply

In related news, EVP Melissa Kersey sold 9,300 shares of the firm’s stock in a transaction that occurred 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 directly owns 34,961 shares of the company’s stock, valued at $1,858,876.37. This trade represents a 21.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Colin Yankee sold 24,602 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 33,645 shares in the company, valued at $1,821,876.75. This represents a 42.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 137,993 shares of company stock valued at $7,538,068. 0.24% of the stock is currently owned by corporate insiders.

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.