Cascades Capital Asset Management LLC Has $213,000 Holdings in Tractor Supply (NASDAQ:TSCO)

Cascades Capital Asset Management LLC increased its position in Tractor Supply (NASDAQ:TSCO) by 401.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 4,020 shares of the specialty retailer’s stock after purchasing an additional 3,219 shares during the period. Cascades Capital Asset Management LLC’s holdings in Tractor Supply were worth $213,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC grew its holdings in shares of Tractor Supply by 385.8% during 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 buying an additional 865,273 shares in the last quarter. BOK Financial Private Wealth Inc. boosted its position in Tractor Supply by 330.2% during the 4th quarter. BOK Financial Private Wealth Inc. now owns 21,355 shares of the specialty retailer’s stock worth $1,133,000 after acquiring an additional 16,391 shares during the period. Blueshift Asset Management LLC boosted its position 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 worth $3,545,000 after acquiring an additional 56,870 shares during the period. Callan Family Office LLC acquired a new position in shares of Tractor Supply in the 4th quarter valued at about $503,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Tractor Supply by 379.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 890,898 shares of the specialty retailer’s stock worth $47,271,000 after purchasing an additional 704,896 shares in the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Melissa Kersey sold 9,300 shares of Tractor Supply stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $53.17, for a total transaction of $494,481.00. Following the sale, the executive vice president now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Harry A. Lawton III sold 88,095 shares of the company’s 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold 137,993 shares of company stock worth $7,538,068 in the last ninety days. Insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

TSCO has been the topic of a number of research analyst reports. Bank of America boosted their price objective on shares of Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a research report on Thursday, January 16th. Guggenheim restated a “buy” rating and set a $60.00 price target on shares of Tractor Supply in a report on Friday, January 31st. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $67.00 price target on shares of Tractor Supply in a research note on Thursday, January 30th. Barclays reduced 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. Finally, 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 research note on Friday, January 31st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $59.22.

Tractor Supply Trading Down 6.0 %

Shares of NASDAQ:TSCO opened at $52.40 on Friday. 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 stock’s 50-day moving average is $54.84 and its 200-day moving average is $55.61. The company has a market cap of $27.86 billion, a P/E ratio of 25.69, a P/E/G ratio of 2.95 and a beta of 0.88. Tractor Supply has a 52-week low of $48.30 and a 52-week high of $61.53.

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

Tractor Supply announced that its Board of Directors has initiated a stock buyback plan on Thursday, February 13th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the specialty retailer to reacquire up to 3.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Tractor Supply Increases Dividend

The business 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. The ex-dividend date was Wednesday, February 26th. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 dividend on an annualized basis and a yield of 7.02%. Tractor Supply’s dividend payout ratio is 45.10%.

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.