Tractor Supply (NASDAQ:TSCO) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 391.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,821,654 shares of the specialty retailer’s stock after buying an additional 8,617,869 shares during the quarter. JPMorgan Chase & Co. owned 2.03% of Tractor Supply worth $574,197,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TSCO. Larson Financial Group LLC grew its stake in Tractor Supply by 29.4% during the 3rd quarter. Larson Financial Group LLC now owns 286 shares of the specialty retailer’s stock worth $83,000 after purchasing an additional 65 shares in the last quarter. D.A. Davidson & CO. raised its holdings in Tractor Supply by 17.3% in the third quarter. D.A. Davidson & CO. now owns 9,685 shares of the specialty retailer’s stock valued at $2,818,000 after acquiring an additional 1,430 shares in the last quarter. FMR LLC lifted its stake in Tractor Supply by 7.6% in the third quarter. FMR LLC now owns 163,454 shares of the specialty retailer’s stock worth $47,554,000 after acquiring an additional 11,584 shares during the last quarter. Quantbot Technologies LP increased its position in shares of Tractor Supply by 1,054.7% in the 3rd quarter. Quantbot Technologies LP now owns 8,291 shares of the specialty retailer’s stock valued at $2,412,000 after purchasing an additional 7,573 shares during the last quarter. Finally, Townsquare Capital LLC raised its holdings in shares of Tractor Supply by 12.2% in the 3rd quarter. Townsquare Capital LLC now owns 19,794 shares of the specialty retailer’s stock valued at $5,759,000 after purchasing an additional 2,160 shares in the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Trading Down 1.3 %

Shares of TSCO opened at $53.47 on Friday. The firm’s 50-day moving average is $55.03 and its two-hundred day moving average is $55.64. Tractor Supply has a twelve month low of $48.30 and a twelve month high of $61.53. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $28.55 billion, a P/E ratio of 26.21, a PEG ratio of 2.95 and a beta of 0.85.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share (EPS) 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, research analysts predict that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were given a $0.92 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 annualized dividend and a dividend yield of 6.88%. Tractor Supply’s dividend payout ratio is currently 45.10%.

Tractor Supply declared that its board has authorized a share repurchase plan on Thursday, February 13th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits 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 of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Loop Capital increased their target price on Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a report on Thursday, December 12th. Guggenheim reissued a “buy” rating and issued a $60.00 price target on shares of Tractor Supply in a research report on Friday, January 31st. Telsey Advisory Group reaffirmed an “outperform” rating and set a $67.00 price objective on shares of Tractor Supply in a report on Thursday, January 30th. Bank of America raised their price target on Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a research note on Thursday, January 16th. Finally, Mizuho increased their price objective on Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $59.22.

Insider Transactions at Tractor Supply

In related news, EVP Colin Yankee sold 24,602 shares of Tractor Supply stock in a transaction dated Tuesday, February 11th. The stock was 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 owns 33,645 shares in the company, valued at approximately $1,821,876.75. This trade represents a 42.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Harry A. Lawton III sold 88,095 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were 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 owns 488,852 shares in the company, valued at approximately $26,686,430.68. This trade represents a 15.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 137,993 shares of company stock valued at $7,538,068 in the last ninety days. Corporate insiders own 0.58% of the company’s stock.

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.