Douglass Winthrop Advisors LLC Has $85.37 Million Position in Tractor Supply (NASDAQ:TSCO)

Douglass Winthrop Advisors LLC increased its position in shares of Tractor Supply (NASDAQ:TSCO) by 405.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,608,970 shares of the specialty retailer’s stock after buying an additional 1,290,470 shares during the quarter. Tractor Supply accounts for about 1.7% of Douglass Winthrop Advisors LLC’s portfolio, making the stock its 25th biggest holding. Douglass Winthrop Advisors LLC owned about 0.30% of Tractor Supply worth $85,372,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Smithfield Trust Co grew its stake in shares of Tractor Supply by 286.2% during the 4th quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer’s stock worth $25,000 after acquiring an additional 352 shares in the last quarter. PrairieView Partners LLC boosted its holdings in Tractor Supply by 400.0% during the fourth quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 400 shares during the last quarter. Future Financial Wealth Managment LLC grew its position in Tractor Supply by 400.0% in the fourth quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 400 shares in the last quarter. Archer Investment Corp lifted its position in Tractor Supply by 400.0% during the 4th quarter. Archer Investment Corp now owns 500 shares of the specialty retailer’s stock worth $27,000 after buying an additional 400 shares in the last quarter. Finally, Kentucky Trust Co acquired a new position in shares of Tractor Supply during the 4th quarter worth about $27,000. Institutional investors and hedge funds own 98.72% of the company’s stock.

Tractor Supply Price Performance

Shares of NASDAQ TSCO opened at $51.84 on Friday. The firm has a market cap of $27.68 billion, a P/E ratio of 25.41, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. The business’s 50 day moving average is $55.07 and its 200-day moving average is $55.67. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. Tractor Supply has a 1-year low of $48.30 and a 1-year 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%. Equities research analysts predict that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were paid a $0.92 dividend. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $3.68 annualized dividend and a yield of 7.10%. Tractor Supply’s payout ratio is 45.10%.

Tractor Supply announced that its Board of Directors has authorized a share buyback program on Thursday, February 13th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the specialty retailer to reacquire up to 3.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TSCO. Bank of America lifted their target price on Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a research report on Thursday, January 16th. Barclays lowered their price target on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Monday, December 30th. Wells Fargo & Company cut their price objective on Tractor Supply from $65.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Mizuho boosted their target price on shares of Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Finally, 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 report on Friday, January 31st. 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’s stock. According to MarketBeat.com, Tractor Supply presently has a consensus rating of “Moderate Buy” and an average target price of $59.22.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $54.59, for a total value 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 $26,686,430.68. The trade was a 15.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Matthew L. Rubin sold 3,850 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $57.69, for a total value of $222,106.50. Following the sale, the senior vice president now directly owns 31,787 shares in the company, valued at approximately $1,833,792.03. This trade represents a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,993 shares of company stock valued at $7,538,068 in the last quarter. Company 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.