Freestone Capital Holdings LLC Has $3.21 Million Stake in Tractor Supply (NASDAQ:TSCO)

Freestone Capital Holdings LLC boosted its stake in Tractor Supply (NASDAQ:TSCO) by 408.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,573 shares of the specialty retailer’s stock after purchasing an additional 48,656 shares during the period. Freestone Capital Holdings LLC’s holdings in Tractor Supply were worth $3,214,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of TSCO. Raymond James Financial Inc. acquired a new stake in Tractor Supply during the 4th quarter worth about $329,458,000. Meridiem Investment Management Ltd. grew its holdings in Tractor Supply by 398.9% during the 4th quarter. Meridiem Investment Management Ltd. now owns 5,118,785 shares of the specialty retailer’s stock worth $271,674,000 after acquiring an additional 4,092,808 shares during the period. Bank of New York Mellon Corp grew its holdings in Tractor Supply by 403.3% during the 4th quarter. Bank of New York Mellon Corp now owns 3,912,752 shares of the specialty retailer’s stock worth $207,611,000 after acquiring an additional 3,135,384 shares during the period. Alecta Tjanstepension Omsesidigt grew its holdings in Tractor Supply by 400.0% during the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 3,750,000 shares of the specialty retailer’s stock worth $199,012,000 after acquiring an additional 3,000,000 shares during the period. Finally, Provident Trust Co. grew its holdings in Tractor Supply by 397.4% during the 4th quarter. Provident Trust Co. now owns 3,380,905 shares of the specialty retailer’s stock worth $179,391,000 after acquiring an additional 2,701,204 shares during the period. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on TSCO shares. Guggenheim restated a “buy” rating and issued a $60.00 target price on shares of Tractor Supply in a research note on Friday, January 31st. Bank of America raised their target price on Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a research note on Thursday, January 16th. Barclays reduced their target price on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a research note on Monday, December 30th. Evercore ISI upgraded Tractor Supply from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 15th. Finally, Wells Fargo & Company dropped their price target on shares of Tractor Supply from $65.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.22.

Tractor Supply Trading Down 0.3 %

NASDAQ:TSCO opened at $54.95 on Thursday. 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 stock 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. The firm’s 50 day moving average is $55.08 and its 200 day moving average is $55.71. Tractor Supply has a 12 month low of $48.30 and a 12 month high of $61.53.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly 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 return on equity of 49.01% and a net margin of 7.40%. Sell-side analysts expect that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply Increases Dividend

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

Tractor Supply declared that its board has authorized a share repurchase plan on Thursday, February 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the specialty retailer to purchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Melissa Kersey sold 9,300 shares of Tractor Supply stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $53.17, for a total transaction of $494,481.00. Following the completion of the transaction, the executive vice president now owns 34,961 shares of the company’s stock, valued at $1,858,876.37. This represents a 21.01 % decrease in their ownership of the stock. 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. 0.24% of the stock is owned by company insiders.

Tractor Supply 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.