TD Waterhouse Canada Inc. Purchases 7,858 Shares of Tractor Supply (NASDAQ:TSCO)

TD Waterhouse Canada Inc. raised its stake in Tractor Supply (NASDAQ:TSCO - Free Report) by 395.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,845 shares of the specialty retailer's stock after acquiring an additional 7,858 shares during the period. TD Waterhouse Canada Inc.'s holdings in Tractor Supply were worth $522,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new position in shares of Tractor Supply in the 3rd quarter worth $734,000. Tidal Investments LLC grew its holdings in Tractor Supply by 722.5% during the third quarter. Tidal Investments LLC now owns 95,172 shares of the specialty retailer's stock valued at $27,688,000 after purchasing an additional 83,601 shares during the period. Franklin Resources Inc. raised its holdings in Tractor Supply by 2.0% in the third quarter. Franklin Resources Inc. now owns 454,175 shares of the specialty retailer's stock worth $137,950,000 after purchasing an additional 8,890 shares during the period. Versant Capital Management Inc increased its position in shares of Tractor Supply by 345.6% in the 4th quarter. Versant Capital Management Inc now owns 860 shares of the specialty retailer's stock valued at $46,000 after buying an additional 667 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Tractor Supply by 515.5% during the fourth quarter. GAMMA Investing LLC now owns 13,702 shares of the specialty retailer's stock worth $727,000 after acquiring an additional 11,476 shares in the last quarter. 98.72% of the stock is owned by institutional investors.

Tractor Supply Price Performance

NASDAQ:TSCO traded down $0.57 during trading hours on Thursday, reaching $50.05. 1,791,132 shares of the company were exchanged, compared to its average volume of 5,451,761. The business has a 50 day moving average of $52.59 and a 200 day moving average of $54.59. Tractor Supply has a 1-year low of $46.85 and a 1-year high of $61.53. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. The company has a market capitalization of $26.61 billion, a P/E ratio of 24.53, a P/E/G ratio of 2.95 and a beta of 0.88.

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

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were paid a $0.92 dividend. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $3.68 annualized dividend and a dividend yield of 7.35%. Tractor Supply's dividend payout ratio is presently 45.77%.

Tractor Supply declared that its board has authorized a stock buyback program on Thursday, February 13th that allows the company to repurchase $1.00 billion in 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 usually a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Telsey Advisory Group set a $60.00 price target on Tractor Supply in a research note on Friday, April 25th. Bank of America raised their price target on shares of Tractor Supply from $44.00 to $53.00 and gave the stock an "underperform" rating in a research note on Thursday, January 16th. Stephens started coverage on shares of Tractor Supply in a research note on Wednesday, April 9th. They issued an "equal weight" rating and a $56.00 price target on the stock. Mizuho lowered their target price on Tractor Supply from $62.00 to $58.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Finally, Raymond James reduced their price target on Tractor Supply from $61.00 to $57.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Tractor Supply currently has a consensus rating of "Moderate Buy" and an average target price of $58.02.

Insider Transactions at Tractor Supply

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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Matthew L. Rubin sold 3,850 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $57.69, for a total transaction 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. The trade was a 10.80 % decrease in their position. 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 three months. 0.65% of the stock is owned by company insiders.

About Tractor Supply

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.