Westover Capital Advisors LLC Grows Position in Tractor Supply (NASDAQ:TSCO)

Westover Capital Advisors LLC increased its position in shares of Tractor Supply (NASDAQ:TSCO) by 398.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,920 shares of the specialty retailer’s stock after purchasing an additional 19,918 shares during the period. Westover Capital Advisors LLC’s holdings in Tractor Supply were worth $1,322,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Meridiem Investment Management Ltd. lifted 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 valued at $271,674,000 after buying an additional 4,092,808 shares in the last quarter. Bank of New York Mellon Corp lifted 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 valued at $207,611,000 after buying an additional 3,135,384 shares in the last quarter. Alecta Tjanstepension Omsesidigt lifted 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 valued at $199,012,000 after buying an additional 3,000,000 shares in the last quarter. Provident Trust Co. lifted 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 valued at $179,391,000 after buying an additional 2,701,204 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Tractor Supply by 413.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,244,197 shares of the specialty retailer’s stock valued at $172,137,000 after buying an additional 2,612,791 shares in the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TSCO. Barclays decreased their price objective on shares of Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a report on Monday, December 30th. Telsey Advisory Group restated an “outperform” rating and issued a $67.00 price target on shares of Tractor Supply in a report on Thursday, January 30th. JPMorgan Chase & Co. boosted their price target on shares of Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Bank of America boosted their price target on shares of Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a report on Thursday, January 16th. Finally, Wells Fargo & Company reduced their price target on shares of Tractor Supply from $65.00 to $64.00 and set an “overweight” rating for the company in a 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 issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $59.22.

Tractor Supply Stock Down 0.3 %

NASDAQ:TSCO opened at $54.95 on Thursday. The company has a market cap of $29.34 billion, a PE ratio of 26.94, a P/E/G ratio of 2.95 and a beta of 0.85. Tractor Supply has a twelve month low of $48.30 and a twelve month high of $61.53. 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 company’s 50 day moving average is $55.08 and its two-hundred day moving average is $55.71.

Tractor Supply (NASDAQ:TSCO) last released its 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 return on equity of 49.01% and a net margin of 7.40%. Analysts anticipate that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The firm 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 $0.92 dividend. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 annualized dividend and a dividend yield of 6.70%. The ex-dividend date is Wednesday, February 26th. Tractor Supply’s dividend payout ratio is 45.10%.

Tractor Supply announced that its Board of Directors has approved a share buyback plan on Thursday, February 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the specialty retailer to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, CEO Harry A. Lawton III sold 88,095 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 488,852 shares of the company’s stock, valued at $26,686,430.68. This represents a 15.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Melissa Kersey sold 9,300 shares of the business’s stock in a transaction 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 approximately $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. Insiders have sold 137,993 shares of company stock valued at $7,538,068 in the last ninety days. Insiders own 0.24% of the company’s stock.

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.