Assetmark Inc. Boosts Stake in Tractor Supply (NASDAQ:TSCO)

Assetmark Inc. lifted its holdings in Tractor Supply (NASDAQ:TSCO) by 636.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,098 shares of the specialty retailer’s stock after purchasing an additional 949 shares during the quarter. Assetmark Inc.’s holdings in Tractor Supply were worth $58,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of TSCO. Smithfield Trust Co increased its position in Tractor Supply by 286.2% during the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 352 shares during the last quarter. J.Safra Asset Management Corp increased its position in Tractor Supply by 751.6% during the fourth quarter. J.Safra Asset Management Corp now owns 3,628 shares of the specialty retailer’s stock valued at $191,000 after acquiring an additional 3,202 shares during the last quarter. Crew Capital Management Ltd. increased its position in Tractor Supply by 94.5% during the fourth quarter. Crew Capital Management Ltd. now owns 5,240 shares of the specialty retailer’s stock valued at $278,000 after acquiring an additional 2,546 shares during the last quarter. Victory Capital Management Inc. increased its position in Tractor Supply by 346.0% during the fourth quarter. Victory Capital Management Inc. now owns 271,441 shares of the specialty retailer’s stock valued at $14,403,000 after acquiring an additional 210,584 shares during the last quarter. Finally, Keybank National Association OH increased its position in Tractor Supply by 318.6% during the fourth quarter. Keybank National Association OH now owns 642,752 shares of the specialty retailer’s stock valued at $34,105,000 after acquiring an additional 489,198 shares during the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Trading Up 0.3 %

Shares of TSCO stock opened at $51.83 on Friday. Tractor Supply has a 1 year low of $48.30 and a 1 year high of $61.53. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. The stock’s 50 day simple moving average is $55.19 and its two-hundred day simple moving average is $55.73. The company has a market cap of $27.68 billion, a PE ratio of 25.41, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85.

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 return on equity of 49.01% and a net margin of 7.40%. Research analysts predict that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were issued a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 7.10%. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. Tractor Supply’s dividend payout ratio is presently 45.10%.

Tractor Supply declared that its board has approved a stock repurchase program on Thursday, February 13th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the specialty retailer to purchase up to 3.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

TSCO has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Wells Fargo & Company cut their price target on Tractor Supply from $65.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Telsey Advisory Group reissued an “outperform” rating and set a $67.00 price target on shares of Tractor Supply in a report on Thursday, January 30th. Loop Capital boosted their price target on Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a report on Thursday, December 12th. Finally, Bank of America boosted their price target on Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a report on Thursday, January 16th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $59.22.

Insider Transactions at Tractor Supply

In other Tractor Supply news, EVP Colin Yankee sold 24,602 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $54.15, for a total transaction of $1,332,198.30. Following the transaction, the executive vice president now directly owns 33,645 shares in the company, valued at $1,821,876.75. This trade represents a 42.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Matthew L. Rubin sold 3,850 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $57.69, for a total value of $222,106.50. Following the transaction, the senior vice president now owns 31,787 shares in the company, valued at $1,833,792.03. The trade was a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,993 shares of company stock worth $7,538,068. 0.24% of the stock is currently 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.