Tractor Supply (NASDAQ:TSCO) Shares Acquired by Kesler Norman & Wride LLC

Kesler Norman & Wride LLC increased its position in shares of Tractor Supply (NASDAQ:TSCO) by 537.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 16,840 shares of the specialty retailer’s stock after buying an additional 14,197 shares during the quarter. Kesler Norman & Wride LLC’s holdings in Tractor Supply were worth $894,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Kiely Wealth Advisory Group Inc. increased its holdings in shares of Tractor Supply by 400.0% in the 4th quarter. Kiely Wealth Advisory Group Inc. now owns 1,000 shares of the specialty retailer’s stock valued at $54,000 after acquiring an additional 800 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Tractor Supply by 404.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,188,663 shares of the specialty retailer’s stock worth $222,250,000 after purchasing an additional 3,358,470 shares during the period. Trexquant Investment LP acquired a new stake in Tractor Supply during the 4th quarter worth $15,535,000. Cannon Advisors Inc. grew its position in Tractor Supply by 330.8% during the 4th quarter. Cannon Advisors Inc. now owns 10,870 shares of the specialty retailer’s stock worth $577,000 after purchasing an additional 8,347 shares during the last quarter. Finally, OLD Mission Capital LLC purchased a new stake in shares of Tractor Supply in the fourth quarter valued at about $4,068,000. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Insider Activity

In other Tractor Supply news, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $54.59, for a total value of $4,809,106.05. Following the completion of the sale, the chief executive officer now directly owns 488,852 shares of the company’s stock, valued at approximately $26,686,430.68. The trade was a 15.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Melissa Kersey sold 9,300 shares of the business’s 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 completion of the transaction, the executive vice president now 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 disclosure for this sale can be found here. Insiders have sold 137,993 shares of company stock worth $7,538,068 over the last ninety days. 0.24% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on TSCO. Loop Capital raised their price target on Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a report on Thursday, December 12th. Barclays decreased their price objective on 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. Guggenheim reissued a “buy” rating and issued a $60.00 target price on shares of Tractor Supply in a report on Friday, January 31st. Bank of America increased their price target on Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a report on Thursday, January 16th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $59.22.

Tractor Supply Stock Performance

NASDAQ TSCO opened at $55.13 on Wednesday. The business has a 50 day moving average price of $55.02 and a 200 day moving average price of $55.64. The company has a market capitalization of $29.44 billion, a P/E ratio of 27.02, a PEG ratio of 2.95 and a beta of 0.85. Tractor Supply has a 1-year low of $48.30 and a 1-year high of $61.53. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share 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%. Sell-side analysts expect that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply declared that its board has approved a stock 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 purchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were issued a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 6.68%. The ex-dividend date was Wednesday, February 26th. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio is 45.10%.

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.