Tractor Supply (NASDAQ:TSCO) Shares Acquired by Comerica Bank

Comerica Bank grew its holdings in Tractor Supply (NASDAQ:TSCO - Free Report) by 471.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 170,295 shares of the specialty retailer's stock after purchasing an additional 140,486 shares during the period. Comerica Bank's holdings in Tractor Supply were worth $9,036,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. CIBC Private Wealth Group LLC boosted its stake in Tractor Supply by 385.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,089,542 shares of the specialty retailer's stock worth $59,260,000 after buying an additional 865,273 shares during the period. BOK Financial Private Wealth Inc. boosted its position in shares of Tractor Supply by 330.2% during the 4th quarter. BOK Financial Private Wealth Inc. now owns 21,355 shares of the specialty retailer's stock worth $1,133,000 after purchasing an additional 16,391 shares during the period. Blueshift Asset Management LLC increased its holdings in Tractor Supply by 571.8% in the 4th quarter. Blueshift Asset Management LLC now owns 66,815 shares of the specialty retailer's stock valued at $3,545,000 after purchasing an additional 56,870 shares during the last quarter. Heritage Trust Co purchased a new stake in Tractor Supply in the fourth quarter valued at approximately $1,829,000. Finally, Callan Family Office LLC acquired a new position in Tractor Supply during the fourth quarter worth $503,000. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TSCO has been the topic of several research analyst reports. UBS Group set a $54.00 price objective on Tractor Supply in a report on Friday, April 25th. Stephens began 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. Raymond James lowered their price objective on shares of Tractor Supply from $61.00 to $57.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Guggenheim decreased their price target on shares of Tractor Supply from $60.00 to $55.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Finally, Robert W. Baird cut their price objective on Tractor Supply from $63.00 to $56.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Tractor Supply currently has a consensus rating of "Moderate Buy" and a consensus price target of $58.02.

Tractor Supply Stock Down 0.1 %

NASDAQ:TSCO traded down $0.06 during midday trading on Wednesday, hitting $50.96. 4,106,782 shares of the company were exchanged, compared to its average volume of 5,118,425. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. Tractor Supply has a fifty-two week low of $46.85 and a fifty-two week high of $61.53. The company has a market capitalization of $27.09 billion, a PE ratio of 24.98, a price-to-earnings-growth ratio of 2.95 and a beta of 0.82. The company has a fifty day simple moving average of $52.20 and a 200 day simple moving average of $54.29.

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

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were paid a dividend of $0.92 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a yield of 7.22%. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's dividend payout ratio is currently 45.77%.

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

Insiders Place Their Bets

In other news, EVP Melissa Kersey sold 9,300 shares of the business's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $53.17, for a total value of $494,481.00. Following the transaction, the executive vice president now owns 34,961 shares of the company's stock, valued at approximately $1,858,876.37. The trade was a 21.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kurt D. Barton sold 12,146 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $56.00, for a total value of $680,176.00. Following the sale, the chief financial officer now owns 47,715 shares of the company's stock, valued at $2,672,040. This trade represents a 20.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,898 shares of company stock valued at $2,728,962. Insiders own 0.65% of the company's stock.

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.