Great Lakes Advisors LLC Buys 36,622 Shares of Tractor Supply (NASDAQ:TSCO)

Great Lakes Advisors LLC increased its position in Tractor Supply (NASDAQ:TSCO) by 416.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 45,407 shares of the specialty retailer’s stock after purchasing an additional 36,622 shares during the quarter. Great Lakes Advisors LLC’s holdings in Tractor Supply were worth $2,409,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in TSCO. Raymond James Financial Inc. acquired a new stake in shares of Tractor Supply in the 4th quarter valued at about $329,458,000. Meridiem Investment Management Ltd. grew its stake in shares of Tractor Supply by 398.9% in the 4th quarter. Meridiem Investment Management Ltd. now owns 5,118,785 shares of the specialty retailer’s stock valued at $271,674,000 after buying an additional 4,092,808 shares during the period. Amundi grew its stake in shares of Tractor Supply by 495.2% in the 4th quarter. Amundi now owns 4,145,992 shares of the specialty retailer’s stock valued at $225,501,000 after buying an additional 3,449,442 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Tractor Supply by 403.3% in the 4th quarter. Bank of New York Mellon Corp now owns 3,912,752 shares of the specialty retailer’s stock valued at $207,611,000 after buying an additional 3,135,384 shares during the period. Finally, Alecta Tjanstepension Omsesidigt grew its stake in shares of Tractor Supply by 400.0% in the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 3,750,000 shares of the specialty retailer’s stock valued at $199,012,000 after buying an additional 3,000,000 shares during the period. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Tractor Supply Trading Up 0.3 %

NASDAQ:TSCO opened at $51.83 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 stock has a market capitalization 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. The firm’s 50 day moving average is $55.19 and its 200 day moving average is $55.73. Tractor Supply has a 12 month low of $48.30 and a 12 month high of $61.53.

Tractor Supply (NASDAQ:TSCO) last posted 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%. Sell-side analysts expect that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply announced that its Board of Directors has initiated a share repurchase plan on Thursday, February 13th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to reacquire up to 3.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 7.10%. 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 payout ratio is 45.10%.

Insider Buying and Selling

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total transaction of $222,106.50. Following the sale, the senior vice president now owns 31,787 shares of the company’s stock, valued at $1,833,792.03. The trade was a 10.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 sale, the executive vice president now directly owns 34,961 shares in the company, valued at $1,858,876.37. The trade was a 21.01 % decrease in their position. 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. 0.24% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Bank of America raised their target price on Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a research note on Thursday, January 16th. 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 research note on Monday, November 25th. Mizuho lifted their price target on Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Guggenheim reiterated a “buy” rating and set a $60.00 price target on shares of Tractor Supply in a research note on Friday, January 31st. Finally, Loop Capital lifted their price target on Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Tractor Supply has a consensus rating of “Moderate Buy” and an average target price of $59.22.

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.