Voya Investment Management LLC Boosts Stock Position in Tractor Supply (NASDAQ:TSCO)

Voya Investment Management LLC raised its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 307.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 978,742 shares of the specialty retailer’s stock after purchasing an additional 738,481 shares during the quarter. Voya Investment Management LLC’s holdings in Tractor Supply were worth $51,932,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Tractor Supply by 392.5% during the fourth quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer’s stock worth $3,397,643,000 after acquiring an additional 51,031,178 shares during the last quarter. Wellington Management Group LLP boosted its stake in Tractor Supply by 401.8% during the fourth quarter. Wellington Management Group LLP now owns 23,789,249 shares of the specialty retailer’s stock worth $1,262,258,000 after buying an additional 19,048,385 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Tractor Supply by 403.3% in the 4th quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer’s stock worth $1,180,932,000 after acquiring an additional 17,834,643 shares during the last quarter. Capital World Investors boosted its stake in shares of Tractor Supply by 403.7% during the 4th quarter. Capital World Investors now owns 19,433,135 shares of the specialty retailer’s stock worth $1,031,122,000 after purchasing an additional 15,575,311 shares during the period. Finally, Capital International Investors grew its holdings in Tractor Supply by 334.7% during the 4th quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer’s stock valued at $818,421,000 after purchasing an additional 11,880,010 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TSCO has been the topic of a number of analyst reports. Citigroup cut their target price on Tractor Supply from $59.00 to $51.00 and set a “neutral” rating on the stock in a research note on Friday. JPMorgan Chase & Co. boosted their target price on shares of Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Guggenheim decreased their price objective on shares of Tractor Supply from $60.00 to $55.00 and set a “buy” rating for the company in a report on Friday. Robert W. Baird reduced their target price on shares of Tractor Supply from $63.00 to $56.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Raymond James dropped their price objective on Tractor Supply from $61.00 to $57.00 and set an “outperform” rating on the stock in a research note on Friday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $57.88.

Insider Transactions at Tractor Supply

In other Tractor Supply news, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply stock in a transaction dated Monday, February 3rd. The stock was 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Colin Yankee sold 24,602 shares of the company’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $54.15, for a total value 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 $1,821,876.75. The trade was a 42.24 % decrease in their position. 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 90 days. 0.65% of the stock is currently owned by company insiders.

Tractor Supply Trading Up 1.9 %

Shares of Tractor Supply stock opened at $49.92 on Friday. Tractor Supply has a 12-month low of $46.85 and a 12-month high of $61.53. The firm’s 50 day simple moving average is $53.04 and its two-hundred day simple moving average is $54.80. 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 $26.54 billion, a price-to-earnings ratio of 24.47, a PEG ratio of 2.95 and a beta of 0.88.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings results on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. The firm had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.55 billion. Analysts predict that Tractor Supply will post 2.17 EPS 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 dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 7.37%. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. Tractor Supply’s payout ratio is presently 45.77%.

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 buy up to 3.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

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.