Benjamin Edwards Inc. Has $45.99 Million Stake in Tractor Supply (NASDAQ:TSCO)

Benjamin Edwards Inc. increased its stake in Tractor Supply (NASDAQ:TSCO - Free Report) by 406.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 866,760 shares of the specialty retailer's stock after purchasing an additional 695,710 shares during the quarter. Benjamin Edwards Inc. owned approximately 0.16% of Tractor Supply worth $45,990,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. BLI Banque de Luxembourg Investments acquired a new stake in shares of Tractor Supply in the fourth quarter valued at about $7,730,000. BNP Paribas grew its holdings in Tractor Supply by 400.0% in the 4th quarter. BNP Paribas now owns 20,275 shares of the specialty retailer's stock valued at $1,064,000 after buying an additional 16,220 shares during the last quarter. Ameriprise Financial Inc. increased its position in Tractor Supply by 331.1% in the 4th quarter. Ameriprise Financial Inc. now owns 1,728,661 shares of the specialty retailer's stock worth $91,723,000 after buying an additional 1,327,652 shares during the period. Ancora Advisors LLC lifted its holdings in shares of Tractor Supply by 556.1% during the fourth quarter. Ancora Advisors LLC now owns 1,345 shares of the specialty retailer's stock worth $71,000 after buying an additional 1,140 shares during the last quarter. Finally, Aptus Capital Advisors LLC grew its stake in shares of Tractor Supply by 418.1% in the fourth quarter. Aptus Capital Advisors LLC now owns 57,617 shares of the specialty retailer's stock worth $3,057,000 after acquiring an additional 46,497 shares during the last quarter. Institutional investors own 98.72% of the company's stock.

Insiders Place Their Bets

In other news, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $54.59, for a total value of $4,809,106.05. Following the completion of the sale, the chief executive officer now directly 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Melissa Kersey sold 9,300 shares of the company's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $53.17, for a total value of $494,481.00. Following the transaction, the executive vice president now directly owns 34,961 shares in the company, valued at $1,858,876.37. This trade represents a 21.01 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 137,993 shares of company stock valued at $7,538,068. Insiders own 0.65% of the company's stock.

Tractor Supply Stock Up 1.0 %

Shares of TSCO opened at $50.84 on Friday. The company has a market capitalization of $27.03 billion, a P/E ratio of 24.92, a PEG ratio of 2.95 and a beta of 0.88. Tractor Supply has a one year low of $46.85 and a one year high of $61.53. The business's 50 day simple moving average is $52.35 and its 200-day simple moving average is $54.41. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.03). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. The business had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.55 billion. During the same period in the prior year, the firm posted $1.83 EPS. Tractor Supply's revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, sell-side analysts predict that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply declared that its Board of Directors has initiated a stock repurchase plan 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 shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its shares are undervalued.

Tractor Supply Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were given a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 7.24%. 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 (DPR) is presently 45.77%.

Wall Street Analysts Forecast Growth

TSCO has been the subject of several research analyst reports. Stephens initiated coverage on shares of Tractor Supply in a research note on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 target price for the company. UBS Group set a $54.00 target price on shares of Tractor Supply in a research note on Friday, April 25th. Raymond James cut their price target on Tractor Supply from $61.00 to $57.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Bank of America lifted their price objective on Tractor Supply from $44.00 to $53.00 and gave the stock an "underperform" rating in a report on Thursday, January 16th. Finally, Mizuho cut their target price on Tractor Supply from $62.00 to $58.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven 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 a consensus rating of "Moderate Buy" and a consensus target price of $58.02.

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.

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