Davis R M Inc. Has $41.42 Million Stake in Tractor Supply (NASDAQ:TSCO)

Davis R M Inc. boosted its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 402.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 780,634 shares of the specialty retailer’s stock after buying an additional 625,387 shares during the quarter. Davis R M Inc.’s holdings in Tractor Supply were worth $41,420,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. BOK Financial Private Wealth Inc. increased its position in Tractor Supply by 330.2% during the fourth quarter. BOK Financial Private Wealth Inc. now owns 21,355 shares of the specialty retailer’s stock worth $1,133,000 after buying an additional 16,391 shares during the last quarter. Blueshift Asset Management LLC grew its position in shares of Tractor Supply by 32.7% in the third quarter. Blueshift Asset Management LLC now owns 9,945 shares of the specialty retailer’s stock valued at $2,893,000 after purchasing an additional 2,452 shares during the last quarter. Mutual of America Capital Management LLC grew its position in shares of Tractor Supply by 16.5% in the third quarter. Mutual of America Capital Management LLC now owns 27,336 shares of the specialty retailer’s stock valued at $7,953,000 after purchasing an additional 3,863 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Tractor Supply by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 631,406 shares of the specialty retailer’s stock valued at $183,695,000 after purchasing an additional 8,142 shares during the last quarter. Finally, Metis Global Partners LLC grew its position in shares of Tractor Supply by 495.1% in the fourth quarter. Metis Global Partners LLC now owns 30,485 shares of the specialty retailer’s stock valued at $1,618,000 after purchasing an additional 25,362 shares during the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

Tractor Supply Stock Up 0.6 %

Shares of TSCO opened at $57.21 on Tuesday. The stock has a market cap of $30.55 billion, a price-to-earnings ratio of 28.04, a P/E/G ratio of 2.95 and a beta of 0.85. 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 has a 12 month low of $48.30 and a 12 month high of $61.53. The company has a 50-day moving average price of $55.20 and a two-hundred day moving average price of $55.79.

Tractor Supply (NASDAQ:TSCO) last announced 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%. Equities analysts predict that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The company 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 dividend of $0.92 per share. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date is Wednesday, February 26th. This represents a $3.68 annualized dividend and a dividend yield of 6.43%. Tractor Supply’s dividend payout ratio (DPR) is presently 45.10%.

Tractor Supply announced that its Board of Directors has authorized a share repurchase plan on Thursday, February 13th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the specialty retailer to buy up to 3.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Mizuho raised their price target on Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Wells Fargo & Company lowered their price target on Tractor Supply from $65.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Guggenheim reaffirmed a “buy” rating and issued a $60.00 price target on shares of Tractor Supply in a research report on Friday, January 31st. Truist Financial lowered their price target on Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Finally, Bank of America increased 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 investment 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 stock. Based on data from MarketBeat, Tractor Supply has a consensus rating of “Moderate Buy” and a consensus target price of $59.22.

Insider Transactions at Tractor Supply

In other news, CEO Harry A. Lawton III sold 88,095 shares of the firm’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 transaction of $4,809,106.05. Following the completion of the sale, the chief executive officer now 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Matthew L. Rubin sold 3,850 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $57.69, for a total transaction of $222,106.50. Following the sale, the senior vice president now directly owns 31,787 shares of the company’s stock, valued at approximately $1,833,792.03. The trade was a 10.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 137,993 shares of company stock valued at $7,538,068. Corporate insiders own 0.24% of the company’s stock.

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.