J.Safra Asset Management Corp Grows Stock Position in Tractor Supply (NASDAQ:TSCO)

J.Safra Asset Management Corp lifted its stake in Tractor Supply (NASDAQ:TSCO) by 751.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,628 shares of the specialty retailer’s stock after purchasing an additional 3,202 shares during the period. J.Safra Asset Management Corp’s holdings in Tractor Supply were worth $191,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TSCO. Baldwin Investment Management LLC raised its stake in Tractor Supply by 0.3% in the third quarter. Baldwin Investment Management LLC now owns 11,402 shares of the specialty retailer’s stock valued at $3,317,000 after buying an additional 38 shares in the last quarter. Huntington National Bank grew its holdings in shares of Tractor Supply by 0.7% during the third quarter. Huntington National Bank now owns 5,538 shares of the specialty retailer’s stock worth $1,611,000 after buying an additional 41 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Tractor Supply by 13.2% during the third quarter. First Horizon Advisors Inc. now owns 351 shares of the specialty retailer’s stock worth $102,000 after buying an additional 41 shares during the last quarter. Harbour Investments Inc. grew its holdings in shares of Tractor Supply by 4.6% during the third quarter. Harbour Investments Inc. now owns 958 shares of the specialty retailer’s stock worth $279,000 after buying an additional 42 shares during the last quarter. Finally, Cynosure Group LLC grew its holdings in shares of Tractor Supply by 2.8% during the third quarter. Cynosure Group LLC now owns 1,529 shares of the specialty retailer’s stock worth $445,000 after buying an additional 42 shares during the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Tractor Supply Trading Down 0.3 %

Shares of TSCO opened at $54.95 on Thursday. The stock has a fifty day moving average of $55.08 and a two-hundred day moving average of $55.71. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. The company has a market capitalization of $29.34 billion, a PE ratio of 26.94, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. Tractor Supply has a fifty-two week low of $48.30 and a fifty-two week high of $61.53.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share for the quarter, missing the consensus estimate of $2.28 by ($1.84). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. As a group, analysts forecast that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th will be issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 6.70%. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date is Wednesday, February 26th. Tractor Supply’s dividend payout ratio is presently 45.10%.

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 purchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Bank of America raised 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. 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 report on Friday, January 31st. Guggenheim reissued a “buy” rating and set a $60.00 price target on shares of Tractor Supply in a report on Friday, January 31st. Mizuho lifted their price objective on Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Finally, Evercore ISI raised Tractor Supply from a “hold” rating to a “strong-buy” rating in a report on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tractor Supply presently has an average rating of “Moderate Buy” and an average price target of $59.22.

Insider Transactions at Tractor Supply

In related news, SVP Matthew L. Rubin sold 3,850 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total transaction of $222,106.50. Following the completion of the sale, the senior vice president now directly owns 31,787 shares of the company’s stock, valued at approximately $1,833,792.03. This represents a 10.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Harry A. Lawton III sold 88,095 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 488,852 shares of the company’s stock, valued at approximately $26,686,430.68. This trade represents a 15.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 137,993 shares of company stock worth $7,538,068 in the last ninety days. Insiders own 0.24% of the company’s stock.

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.