HM Payson & Co. Grows Position in Tractor Supply (NASDAQ:TSCO)

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

Several other institutional investors and hedge funds have also bought and sold shares of the business. Raymond James Financial Inc. acquired a new stake in Tractor Supply during the 4th quarter valued at approximately $329,458,000. Meridiem Investment Management Ltd. lifted its stake 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 valued at $271,674,000 after acquiring an additional 4,092,808 shares during the period. Wellington Management Group LLP lifted its stake in Tractor Supply by 3.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,740,864 shares of the specialty retailer’s stock valued at $1,379,260,000 after acquiring an additional 161,503 shares during the period. State Street Corp lifted its stake in Tractor Supply by 1.1% during the 3rd quarter. State Street Corp now owns 4,518,341 shares of the specialty retailer’s stock valued at $1,314,521,000 after acquiring an additional 47,951 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake 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 valued at $207,611,000 after acquiring an additional 3,135,384 shares during the period. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tractor Supply

In related news, EVP Melissa Kersey sold 9,300 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $53.17, for a total value of $494,481.00. Following the completion of the sale, the executive vice president now owns 34,961 shares of the company’s stock, valued at approximately $1,858,876.37. This represents a 21.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Matthew L. Rubin sold 3,850 shares of the company’s 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 completion of the sale, the senior vice president now directly owns 31,787 shares of the company’s stock, valued at $1,833,792.03. This represents a 10.80 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 137,993 shares of company stock valued at $7,538,068. 0.24% of the stock is owned by company insiders.

Tractor Supply Price Performance

Tractor Supply stock opened at $56.89 on Monday. Tractor Supply has a 52-week low of $48.30 and a 52-week high of $61.53. 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 fifty day simple moving average of $55.11 and a 200-day simple moving average of $55.76. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82.

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 return on equity of 49.01% and a net margin of 7.40%. On average, equities analysts anticipate that Tractor Supply will post 2.17 EPS for the current fiscal year.

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

Tractor Supply Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 6.47%. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio is currently 45.10%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Evercore ISI upgraded shares of Tractor Supply from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 15th. JPMorgan Chase & Co. boosted 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. Mizuho boosted their target price on shares of Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Wells Fargo & Company decreased 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 note on Monday, November 25th. Finally, Bank of America boosted their target price 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. Two 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 issued a strong buy rating to the company. According to data from MarketBeat, Tractor Supply presently has an average rating of “Moderate Buy” and an average target price of $59.22.

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.