GeoWealth Management LLC Acquires 3,471 Shares of Tractor Supply (NASDAQ:TSCO)

GeoWealth Management LLC increased its holdings in Tractor Supply (NASDAQ:TSCO) by 411.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 4,314 shares of the specialty retailer’s stock after purchasing an additional 3,471 shares during the period. GeoWealth Management LLC’s holdings in Tractor Supply were worth $229,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of TSCO. CIBC Private Wealth Group LLC grew its position in shares of Tractor Supply by 385.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,089,542 shares of the specialty retailer’s stock valued at $59,260,000 after purchasing an additional 865,273 shares in the last quarter. BOK Financial Private Wealth Inc. boosted its stake in Tractor Supply by 330.2% in the 4th quarter. BOK Financial Private Wealth Inc. now owns 21,355 shares of the specialty retailer’s stock worth $1,133,000 after purchasing an additional 16,391 shares during the period. Blueshift Asset Management LLC grew its holdings in Tractor Supply by 571.8% during the 4th quarter. Blueshift Asset Management LLC now owns 66,815 shares of the specialty retailer’s stock valued at $3,545,000 after buying an additional 56,870 shares in the last quarter. Heritage Trust Co bought a new stake in shares of Tractor Supply during the fourth quarter valued at about $1,829,000. Finally, Callan Family Office LLC purchased a new stake in shares of Tractor Supply in the fourth quarter worth about $503,000. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on TSCO shares. JPMorgan Chase & Co. boosted their price objective 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. Stephens began coverage on Tractor Supply in a research report on Wednesday, April 9th. They issued an “equal weight” rating and a $56.00 price objective on the stock. Bank of America boosted their target price on Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a research report on Thursday, January 16th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $67.00 price target on shares of Tractor Supply in a report on Thursday, April 17th. Finally, Barclays cut their price objective on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a report on Monday, December 30th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $59.07.

Insider Activity at Tractor Supply

In other Tractor Supply news, CEO Harry A. Lawton III sold 88,095 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 488,852 shares in the company, valued at approximately $26,686,430.68. This represents a 15.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $57.69, for a total transaction of $222,106.50. Following the sale, the senior vice president now directly owns 31,787 shares in the company, valued at $1,833,792.03. The trade was a 10.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 137,993 shares of company stock worth $7,538,068 in the last 90 days. Company insiders own 0.65% of the company’s stock.

Tractor Supply Price Performance

TSCO opened at $50.71 on Thursday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. The stock’s 50 day simple moving average is $53.36 and its 200 day simple moving average is $54.94. The firm has a market cap of $26.96 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 2.95 and a beta of 0.88. Tractor Supply has a 1 year low of $46.97 and a 1 year high of $61.53.

Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Thursday, January 30th. The specialty retailer reported $0.44 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%. As a group, analysts predict that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were issued a dividend of $0.92 per share. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 dividend on an annualized basis and a dividend yield of 7.26%. The ex-dividend date of this dividend was Wednesday, February 26th. Tractor Supply’s dividend payout ratio is currently 45.10%.

Tractor Supply announced that its board has authorized a stock buyback plan on Thursday, February 13th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the specialty retailer to purchase up to 3.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

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.