Todd Asset Management LLC Acquires New Stake in Tractor Supply (NASDAQ:TSCO)

Todd Asset Management LLC purchased a new stake in shares of Tractor Supply (NASDAQ:TSCO) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 100,316 shares of the specialty retailer’s stock, valued at approximately $21,571,000. Todd Asset Management LLC owned 0.09% of Tractor Supply as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TSCO. WCM Investment Management LLC purchased a new position in Tractor Supply during the fourth quarter valued at $782,000. LPL Financial LLC lifted its position in shares of Tractor Supply by 4.6% during the 3rd quarter. LPL Financial LLC now owns 113,873 shares of the specialty retailer’s stock valued at $23,122,000 after buying an additional 5,014 shares in the last quarter. Impax Asset Management Group plc grew its stake in shares of Tractor Supply by 2,120.1% during the 4th quarter. Impax Asset Management Group plc now owns 121,817 shares of the specialty retailer’s stock valued at $26,194,000 after acquiring an additional 116,330 shares during the period. International Assets Investment Management LLC increased its holdings in Tractor Supply by 32,987.5% in the 4th quarter. International Assets Investment Management LLC now owns 270,325 shares of the specialty retailer’s stock worth $58,128,000 after acquiring an additional 269,508 shares in the last quarter. Finally, Copeland Capital Management LLC raised its stake in Tractor Supply by 397.6% during the 4th quarter. Copeland Capital Management LLC now owns 5,090 shares of the specialty retailer’s stock worth $1,095,000 after acquiring an additional 4,067 shares during the period. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. TD Cowen upped their price target on shares of Tractor Supply from $250.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. UBS Group raised their price target on Tractor Supply from $220.00 to $240.00 and gave the company a “neutral” rating in a report on Friday, February 2nd. Wells Fargo & Company upped their price objective on Tractor Supply from $250.00 to $285.00 and gave the stock an “overweight” rating in a research note on Monday, March 25th. Morgan Stanley lifted their target price on Tractor Supply from $195.00 to $235.00 and gave the company an “underweight” rating in a research note on Friday, April 26th. Finally, JPMorgan Chase & Co. upped their price target on Tractor Supply from $241.00 to $263.00 and gave the stock a “neutral” rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $253.54.

Tractor Supply Trading Up 1.3 %

NASDAQ TSCO traded up $3.51 on Friday, hitting $270.21. 1,135,143 shares of the stock were exchanged, compared to its average volume of 1,174,176. Tractor Supply has a 52-week low of $185.00 and a 52-week high of $279.38. The firm has a market capitalization of $29.16 billion, a P/E ratio of 26.31, a P/E/G ratio of 3.36 and a beta of 0.82. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.19 and a current ratio of 1.40. The stock has a fifty day moving average price of $255.80 and a two-hundred day moving average price of $229.00.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.83 EPS for the quarter, beating the consensus estimate of $1.70 by $0.13. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The company had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same period in the prior year, the firm posted $1.65 EPS. The firm’s revenue was up 2.8% compared to the same quarter last year. Research analysts forecast that Tractor Supply will post 10.3 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were issued a dividend of $1.10 per share. The ex-dividend date was Friday, February 23rd. This represents a $4.40 dividend on an annualized basis and a yield of 1.63%. This is a boost from Tractor Supply’s previous quarterly dividend of $1.03. Tractor Supply’s payout ratio is presently 42.84%.

Insider Buying and Selling at Tractor Supply

In other news, CEO Harry A. Lawton III sold 20,500 shares of Tractor Supply stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $232.93, for a total transaction of $4,775,065.00. Following the completion of the sale, the chief executive officer now directly owns 95,192 shares in the company, valued at $22,173,072.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Kurt D. Barton sold 401 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $232.06, for a total value of $93,056.06. Following the transaction, the chief financial officer now owns 25,013 shares of the company’s stock, valued at $5,804,516.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Harry A. Lawton III sold 20,500 shares of Tractor Supply stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $232.93, for a total value of $4,775,065.00. Following the sale, the chief executive officer now directly owns 95,192 shares of the company’s stock, valued at $22,173,072.56. The disclosure for this sale can be found here. Insiders have sold 90,090 shares of company stock valued at $21,201,877 in the last quarter. 0.24% of the stock is owned by 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.