Bahl & Gaynor Inc. Acquires 110,803 Shares of Tractor Supply (NASDAQ:TSCO)

Bahl & Gaynor Inc. lifted its holdings in Tractor Supply (NASDAQ:TSCO) by 446.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 135,647 shares of the specialty retailer’s stock after acquiring an additional 110,803 shares during the period. Bahl & Gaynor Inc.’s holdings in Tractor Supply were worth $7,197,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in TSCO. First Personal Financial Services purchased a new position in Tractor Supply during the third quarter worth $29,000. Providence Capital Advisors LLC bought a new stake in shares of Tractor Supply in the 3rd quarter worth about $32,000. Assetmark Inc. boosted its stake in shares of Tractor Supply by 2,383.3% during the 3rd quarter. Assetmark Inc. now owns 149 shares of the specialty retailer’s stock worth $43,000 after purchasing an additional 143 shares during the period. Larson Financial Group LLC grew its holdings in Tractor Supply by 29.4% during the 3rd quarter. Larson Financial Group LLC now owns 286 shares of the specialty retailer’s stock valued at $83,000 after purchasing an additional 65 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in Tractor Supply in the third quarter worth about $90,000. Institutional investors own 98.72% of the company’s stock.

Insiders Place Their Bets

In other Tractor Supply news, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply stock in a transaction dated 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 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. The trade was a 15.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Matthew L. Rubin sold 3,850 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $57.69, for a total value of $222,106.50. Following the completion of the transaction, the senior vice president now directly owns 31,787 shares in the company, valued at $1,833,792.03. This represents a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 137,993 shares of company stock valued at $7,538,068. Insiders own 0.24% of the company’s stock.

Tractor Supply Stock Performance

Shares of TSCO stock opened at $54.59 on Friday. 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 has a market cap of $29.15 billion, a PE ratio of 26.76, a PEG ratio of 2.95 and a beta of 0.85. Tractor Supply has a 12-month low of $48.30 and a 12-month high of $61.53. The business’s fifty day simple moving average is $55.08 and its 200-day simple moving average is $55.71.

Tractor Supply (NASDAQ:TSCO) last announced its earnings results 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%. Analysts expect that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply declared that its Board of Directors has authorized a stock buyback program on Thursday, February 13th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the specialty retailer to buy up to 3.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th will be paid a $0.92 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 dividend on an annualized basis and a yield of 6.74%. Tractor Supply’s dividend payout ratio (DPR) is 45.10%.

Wall Street Analysts Forecast Growth

TSCO has been the topic of a number of analyst reports. Loop Capital upped their target price on Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, December 12th. Guggenheim reissued a “buy” rating and issued a $60.00 price objective on shares of Tractor Supply in a research note on Friday, January 31st. Barclays decreased their target price on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a research report on Monday, December 30th. JPMorgan Chase & Co. upped their target price on Tractor Supply from $58.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, Mizuho upped their price objective on shares of Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.22.

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.