HM Payson & Co. Purchases 3,270 Shares of Tractor Supply (NASDAQ:TSCO)

HM Payson & Co. grew its position in Tractor Supply (NASDAQ:TSCO) by 398.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,090 shares of the specialty retailer’s stock after purchasing an additional 3,270 shares during the quarter. HM Payson & Co.’s holdings in Tractor Supply were worth $217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. AMF Tjanstepension AB boosted its position in shares of Tractor Supply by 388.6% during the fourth quarter. AMF Tjanstepension AB now owns 218,865 shares of the specialty retailer’s stock worth $11,620,000 after acquiring an additional 174,071 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Tractor Supply by 401.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 217,237 shares of the specialty retailer’s stock worth $11,527,000 after acquiring an additional 173,894 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of Tractor Supply by 464.0% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 306,330 shares of the specialty retailer’s stock worth $16,265,000 after acquiring an additional 252,016 shares during the last quarter. Berkshire Asset Management LLC PA boosted its position in shares of Tractor Supply by 424.7% during the fourth quarter. Berkshire Asset Management LLC PA now owns 5,725 shares of the specialty retailer’s stock worth $332,000 after acquiring an additional 4,634 shares during the last quarter. Finally, Andra AP fonden boosted its position in shares of Tractor Supply by 3,074.3% during the fourth quarter. Andra AP fonden now owns 111,100 shares of the specialty retailer’s stock worth $5,895,000 after acquiring an additional 107,600 shares during the last quarter. Institutional investors own 98.72% of the company’s stock.

Tractor Supply Trading Up 4.2 %

Shares of TSCO opened at $56.89 on Monday. Tractor Supply has a 1-year low of $48.30 and a 1-year high of $61.53. The company has a 50-day moving average of $55.11 and a 200 day moving average of $55.76. The firm has a market capitalization of $30.38 billion, a price-to-earnings ratio of 27.89, a PEG ratio of 2.95 and a beta of 0.85. 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 posted its earnings results on Thursday, January 30th. The specialty retailer reported $0.44 EPS 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%. On average, research analysts expect that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply declared that its Board of Directors has initiated a share repurchase program on Thursday, February 13th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the specialty retailer to reacquire up to 3.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Tractor Supply Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th will be given a dividend of $0.92 per share. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a yield of 6.47%. Tractor Supply’s dividend payout ratio (DPR) is 45.10%.

Insider Buying and Selling at Tractor Supply

In other news, CFO Kurt D. Barton sold 12,146 shares of Tractor Supply stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $56.00, for a total value of $680,176.00. Following the transaction, the chief financial officer now owns 47,715 shares of the company’s stock, valued at $2,672,040. The trade was a 20.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply 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 directly owns 31,787 shares in the company, valued at approximately $1,833,792.03. The trade was a 10.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 137,993 shares of company stock valued at $7,538,068. Company insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

TSCO has been the subject of a number of research reports. Wells Fargo & Company dropped their target price on shares of Tractor Supply from $65.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Bank of America upped their price target on shares of Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a research note on Thursday, January 16th. Guggenheim reaffirmed a “buy” rating and set a $60.00 price target on shares of Tractor Supply in a research note on Friday, January 31st. Barclays reduced 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 note on Monday, December 30th. Finally, JPMorgan Chase & Co. increased 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. Two 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. According to MarketBeat, Tractor Supply presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.22.

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.