Tractor Supply (NASDAQ:TSCO) Shares Purchased by Metis Global Partners LLC

Metis Global Partners LLC lifted its stake in Tractor Supply (NASDAQ:TSCO) by 495.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,485 shares of the specialty retailer’s stock after purchasing an additional 25,362 shares during the period. Metis Global Partners LLC’s holdings in Tractor Supply were worth $1,618,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TSCO. Meridiem Investment Management Ltd. raised its position in Tractor Supply by 398.9% during the fourth quarter. Meridiem Investment Management Ltd. now owns 5,118,785 shares of the specialty retailer’s stock worth $271,674,000 after acquiring an additional 4,092,808 shares during the last quarter. Bank of New York Mellon Corp raised its position in Tractor Supply by 403.3% during the fourth quarter. Bank of New York Mellon Corp now owns 3,912,752 shares of the specialty retailer’s stock worth $207,611,000 after acquiring an additional 3,135,384 shares during the last quarter. Alecta Tjanstepension Omsesidigt raised its position in Tractor Supply by 400.0% during the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 3,750,000 shares of the specialty retailer’s stock worth $199,012,000 after acquiring an additional 3,000,000 shares during the last quarter. Provident Trust Co. raised its position in Tractor Supply by 397.4% during the fourth quarter. Provident Trust Co. now owns 3,380,905 shares of the specialty retailer’s stock worth $179,391,000 after acquiring an additional 2,701,204 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Tractor Supply by 345.2% during the fourth quarter. Principal Financial Group Inc. now owns 1,402,070 shares of the specialty retailer’s stock worth $74,394,000 after acquiring an additional 1,087,112 shares during the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on TSCO. Evercore ISI upgraded shares of Tractor Supply from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 15th. Mizuho lifted their price target on shares of Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Telsey Advisory Group reiterated an “outperform” rating and set a $67.00 price target on shares of Tractor Supply in a report on Thursday, January 30th. Guggenheim reiterated a “buy” rating and set a $60.00 price target on shares of Tractor Supply in a report on Friday, January 31st. Finally, Bank of America lifted their price target on shares of Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a report on Thursday, January 16th. Two 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $59.22.

Tractor Supply Price Performance

TSCO opened at $54.95 on Thursday. 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. The company has a 50 day moving average of $55.08 and a two-hundred day moving average of $55.71. The company has a market cap of $29.34 billion, a P/E ratio of 26.94, a P/E/G ratio of 2.95 and a beta of 0.84.

Tractor Supply (NASDAQ:TSCO) last released 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 return on equity of 49.01% and a net margin of 7.40%. On average, analysts expect that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th will be paid a dividend of $0.92 per share. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 annualized dividend and a yield of 6.70%. The ex-dividend date is Wednesday, February 26th. Tractor Supply’s payout ratio is currently 45.10%.

Tractor Supply announced that its board has initiated a stock repurchase 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 purchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, 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 transaction, the executive vice president now directly owns 34,961 shares of the company’s stock, valued at approximately $1,858,876.37. The trade was a 21.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Harry A. Lawton III sold 88,095 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $54.59, for a total transaction of $4,809,106.05. Following the transaction, the chief executive officer now directly owns 488,852 shares in the company, valued at approximately $26,686,430.68. The trade was a 15.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 137,993 shares of company stock worth $7,538,068 over the last ninety days. 0.24% of the stock is owned by company insiders.

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.