Harbour Investments Inc. Grows Stake in Tractor Supply (NASDAQ:TSCO)

Harbour Investments Inc. grew its position in Tractor Supply (NASDAQ:TSCO) by 397.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,766 shares of the specialty retailer’s stock after purchasing an additional 3,808 shares during the quarter. Harbour Investments Inc.’s holdings in Tractor Supply were worth $253,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Baldwin Investment Management LLC grew its holdings in Tractor Supply by 0.3% in the third quarter. Baldwin Investment Management LLC now owns 11,402 shares of the specialty retailer’s stock worth $3,317,000 after purchasing an additional 38 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in shares of Tractor Supply by 13.2% during the third quarter. First Horizon Advisors Inc. now owns 351 shares of the specialty retailer’s stock worth $102,000 after buying an additional 41 shares during the period. Cynosure Group LLC lifted its stake in shares of Tractor Supply by 2.8% during the third quarter. Cynosure Group LLC now owns 1,529 shares of the specialty retailer’s stock worth $445,000 after buying an additional 42 shares during the period. Larson Financial Group LLC lifted its stake in shares of Tractor Supply by 29.4% during the third quarter. Larson Financial Group LLC now owns 286 shares of the specialty retailer’s stock worth $83,000 after buying an additional 65 shares during the period. Finally, Pine Valley Investments Ltd Liability Co lifted its stake in shares of Tractor Supply by 7.1% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 978 shares of the specialty retailer’s stock worth $285,000 after buying an additional 65 shares during the period. 98.72% of the stock is owned by hedge funds and other institutional investors.

Tractor Supply Stock Up 1.2 %

TSCO stock opened at $52.46 on Friday. The stock has a market capitalization of $28.01 billion, a P/E ratio of 25.72, a P/E/G ratio of 2.95 and a beta of 0.85. The firm has a 50-day simple moving average of $55.03 and a 200-day simple moving average of $55.67. 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 52 week low of $48.30 and a 52 week high of $61.53.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.28 by ($1.84). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. Equities analysts forecast that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 7.01%. The ex-dividend date of this dividend was Wednesday, February 26th. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio is currently 45.10%.

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TSCO. Loop Capital lifted their price objective on shares of Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a research note on Thursday, December 12th. Wells Fargo & Company lowered their price objective 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. Bank of America lifted their price objective on shares of Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. lifted their price objective on shares of Tractor Supply from $58.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Finally, Telsey Advisory Group restated an “outperform” rating and set a $67.00 target price on shares of Tractor Supply in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $59.22.

Insider Activity at Tractor Supply

In other Tractor Supply news, CEO Harry A. Lawton III sold 88,095 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 488,852 shares in the company, valued at $26,686,430.68. The trade was a 15.27 % 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 business’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 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. In the last quarter, 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 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.