Tractor Supply (NASDAQ:TSCO) Shares Bought by MetLife Investment Management LLC

MetLife Investment Management LLC increased its position in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 406.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 166,803 shares of the specialty retailer's stock after buying an additional 133,845 shares during the period. MetLife Investment Management LLC's holdings in Tractor Supply were worth $8,851,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in TSCO. Ostrum Asset Management boosted its holdings in shares of Tractor Supply by 400.0% in the fourth quarter. Ostrum Asset Management now owns 2,195 shares of the specialty retailer's stock valued at $116,000 after acquiring an additional 1,756 shares during the period. Norinchukin Bank The lifted its holdings in shares of Tractor Supply by 385.3% during the fourth quarter. Norinchukin Bank The now owns 495,652 shares of the specialty retailer's stock worth $26,299,000 after purchasing an additional 393,509 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of Tractor Supply by 351.3% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 21,570 shares of the specialty retailer's stock worth $1,145,000 after purchasing an additional 16,791 shares during the period. Beck Mack & Oliver LLC lifted its holdings in shares of Tractor Supply by 400.0% during the fourth quarter. Beck Mack & Oliver LLC now owns 12,574 shares of the specialty retailer's stock worth $667,000 after purchasing an additional 10,059 shares during the period. Finally, Capital International Inc. CA lifted its holdings in shares of Tractor Supply by 411.5% during the fourth quarter. Capital International Inc. CA now owns 328,290 shares of the specialty retailer's stock worth $17,419,000 after purchasing an additional 264,111 shares during the period. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Melissa Kersey sold 9,300 shares of Tractor Supply 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 owns 34,961 shares of the company's stock, valued at $1,858,876.37. The trade was a 21.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply 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 sale, the senior vice president now directly owns 31,787 shares in the company, valued at $1,833,792.03. This trade represents a 10.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 137,993 shares of company stock valued at $7,538,068 over the last quarter. Company insiders own 0.65% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on TSCO. Barclays reduced their target price on Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating for the company in a report on Monday, December 30th. JPMorgan Chase & Co. raised their target price on Tractor Supply from $58.00 to $59.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Guggenheim reduced their target price on Tractor Supply from $60.00 to $55.00 and set a "buy" rating for the company in a report on Friday. Raymond James reduced their target price on Tractor Supply from $61.00 to $57.00 and set an "outperform" rating for the company in a report on Friday. Finally, Citigroup reduced their target price on Tractor Supply from $59.00 to $51.00 and set a "neutral" rating for the company in a report on Friday. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $58.62.

Tractor Supply Trading Up 1.9 %

NASDAQ TSCO traded up $0.92 during mid-day trading on Friday, reaching $49.92. 6,948,963 shares of the stock were exchanged, compared to its average volume of 5,114,770. Tractor Supply has a 1-year low of $46.85 and a 1-year high of $61.53. The business's fifty day simple moving average is $53.04 and its 200 day simple moving average is $54.73. The stock has a market capitalization of $26.54 billion, a PE ratio of 24.47, a PEG ratio of 2.95 and a beta of 0.88. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43.

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). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. The firm had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.55 billion. On average, research analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply announced that its board has initiated a stock buyback program on Thursday, February 13th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the specialty retailer to buy up to 3.3% of its shares through open market purchases. Shares buyback programs 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. Shareholders of record on Wednesday, February 26th were paid a dividend of $0.92 per share. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a yield of 7.37%. This is an increase from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's dividend payout ratio (DPR) is currently 45.77%.

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.