Whittier Trust Co. Increases Stock Position in Tractor Supply (NASDAQ:TSCO)

Whittier Trust Co. grew its stake in Tractor Supply (NASDAQ:TSCO) by 400.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 500 shares of the specialty retailer’s stock after buying an additional 400 shares during the period. Whittier Trust Co.’s holdings in Tractor Supply were worth $27,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Raymond James Financial Inc. purchased a new position in shares of Tractor Supply during the 4th quarter valued at about $329,458,000. Meridiem Investment Management Ltd. raised its stake in shares of Tractor Supply by 398.9% during the fourth quarter. Meridiem Investment Management Ltd. now owns 5,118,785 shares of the specialty retailer’s stock worth $271,674,000 after acquiring an additional 4,092,808 shares in the last quarter. Amundi raised its stake in shares of Tractor Supply by 495.2% during the fourth quarter. Amundi now owns 4,145,992 shares of the specialty retailer’s stock worth $225,501,000 after acquiring an additional 3,449,442 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of 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 worth $207,611,000 after acquiring an additional 3,135,384 shares during the last quarter. Finally, Alecta Tjanstepension Omsesidigt boosted its stake in shares of 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 purchasing an additional 3,000,000 shares in the last quarter. Institutional investors own 98.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Barclays decreased their target price on shares of 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. Guggenheim reiterated a “buy” rating and issued a $60.00 price objective on shares of Tractor Supply in a report on Friday, January 31st. Telsey Advisory Group reissued an “outperform” rating and issued a $67.00 target price on shares of Tractor Supply in a research note on Thursday, January 30th. JPMorgan Chase & Co. raised their price target on Tractor Supply from $58.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Finally, Bank of America boosted their price objective on Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a research report on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Tractor Supply has an average rating of “Moderate Buy” and an average target price of $59.22.

Insiders Place Their Bets

In related news, SVP Matthew L. Rubin sold 3,850 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $57.69, for a total transaction of $222,106.50. Following the completion of the transaction, the senior vice president now owns 31,787 shares of the company’s stock, valued at $1,833,792.03. This trade represents a 10.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Melissa Kersey sold 9,300 shares of Tractor Supply stock in a transaction 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 transaction, the executive vice president now owns 34,961 shares of the company’s stock, valued at $1,858,876.37. The trade was a 21.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 137,993 shares of company stock worth $7,538,068. 0.24% of the stock is currently owned by company insiders.

Tractor Supply Stock Up 2.0 %

Shares of NASDAQ:TSCO opened at $53.53 on Tuesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. Tractor Supply has a 52-week low of $48.30 and a 52-week high of $61.53. The firm has a market capitalization of $28.59 billion, a P/E ratio of 26.24, a P/E/G ratio of 2.95 and a beta of 0.85. The stock has a 50 day moving average price of $55.01 and a 200-day moving average price of $55.68.

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 return on equity of 49.01% and a net margin of 7.40%. As a group, equities research analysts anticipate that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were paid a dividend of $0.92 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $3.68 annualized dividend and a yield of 6.87%. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s payout ratio is presently 45.10%.

Tractor Supply declared that its Board of Directors has initiated a stock repurchase program on Thursday, February 13th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the specialty retailer to purchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

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.