Nuveen Asset Management LLC Has $74 Million Holdings in Tractor Supply (NASDAQ:TSCO)

Nuveen Asset Management LLC raised its stake in Tractor Supply (NASDAQ:TSCO - Free Report) by 246.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,394,635 shares of the specialty retailer's stock after purchasing an additional 992,467 shares during the period. Nuveen Asset Management LLC owned about 0.26% of Tractor Supply worth $73,999,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Smithfield Trust Co increased its holdings in shares of Tractor Supply by 286.2% in the 4th quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock valued at $25,000 after acquiring an additional 352 shares during the last quarter. Coppell Advisory Solutions LLC increased its position in Tractor Supply by 944.4% in the 4th quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer's stock valued at $25,000 after acquiring an additional 425 shares during the period. PrairieView Partners LLC lifted its position in Tractor Supply by 400.0% during the 4th quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer's stock worth $26,000 after acquiring an additional 400 shares during the period. Archer Investment Corp increased its holdings in shares of Tractor Supply by 400.0% in the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock valued at $27,000 after purchasing an additional 400 shares during the period. Finally, Kentucky Trust Co acquired a new position in shares of Tractor Supply in the fourth quarter valued at approximately $27,000. Hedge funds and other institutional investors own 98.72% of the company's stock.

Tractor Supply Price Performance

NASDAQ TSCO traded down $1.31 on Tuesday, hitting $51.60. 4,912,277 shares of the company were exchanged, compared to its average volume of 5,155,812. Tractor Supply has a 1-year low of $46.85 and a 1-year high of $61.53. The firm has a 50 day moving average of $51.65 and a two-hundred day moving average of $54.06. 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 $27.36 billion, a P/E ratio of 25.29, a P/E/G ratio of 2.95 and a beta of 0.82.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.03). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. The firm had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.55 billion. During the same period last year, the company earned $1.83 EPS. The company's revenue was up 2.1% compared to the same quarter last year. On average, equities analysts predict that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Wednesday, May 28th. Tractor Supply's dividend payout ratio is currently 45.77%.

Tractor Supply announced that its Board of Directors has approved a stock repurchase program on Thursday, February 13th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to repurchase up to 3.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TSCO. Raymond James cut their target price on Tractor Supply from $61.00 to $57.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Mizuho dropped their price target on Tractor Supply from $62.00 to $58.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. UBS Group set a $54.00 price objective on shares of Tractor Supply in a research report on Friday, April 25th. Telsey Advisory Group set a $60.00 price target on Tractor Supply in a research note on Friday, April 25th. Finally, Stephens assumed coverage on shares of Tractor Supply in a research note on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $58.02.

Insider Buying and Selling

In other news, SVP Matthew L. Rubin sold 2,810 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $51.76, for a total transaction of $145,445.60. Following the sale, the senior vice president now owns 29,722 shares of the company's stock, valued at $1,538,410.72. This trade represents a 8.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.65% of the stock is currently owned by company insiders.

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.