Benjamin Edwards Inc. Has $45.99 Million Holdings in Tractor Supply (NASDAQ:TSCO)

Benjamin Edwards Inc. raised its stake in Tractor Supply (NASDAQ:TSCO) by 406.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 866,760 shares of the specialty retailer’s stock after buying an additional 695,710 shares during the period. Benjamin Edwards Inc.’s holdings in Tractor Supply were worth $45,990,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of TSCO. Coppell Advisory Solutions LLC grew its holdings in Tractor Supply by 944.4% during the fourth quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 425 shares during the period. Smithfield Trust Co grew 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 buying an additional 352 shares during the period. Future Financial Wealth Managment LLC increased its position in shares of Tractor Supply by 400.0% in the 4th quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 400 shares in the last quarter. Archer Investment Corp raised its stake in Tractor Supply by 400.0% during the 4th quarter. Archer Investment Corp now owns 500 shares of the specialty retailer’s stock worth $27,000 after buying an additional 400 shares during the period. Finally, PrairieView Partners LLC lifted its holdings in Tractor Supply by 400.0% during the fourth quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 400 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Tractor Supply Price Performance

Shares of TSCO opened at $50.84 on Friday. 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’s fifty day simple moving average is $52.35 and its 200 day simple moving average is $54.41. Tractor Supply has a 1-year low of $46.85 and a 1-year high of $61.53. The company has a market cap of $27.03 billion, a price-to-earnings ratio of 24.92, a PEG ratio of 2.95 and a beta of 0.88.

Tractor Supply (NASDAQ:TSCO) last issued 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 net margin of 7.40% and a return on equity of 49.01%. The firm had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.55 billion. During the same period in the previous year, the company posted $1.83 earnings per share. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, research analysts forecast that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply declared that its board has approved a share repurchase program on Thursday, February 13th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to repurchase up to 3.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Tractor Supply Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were paid a dividend of $0.92 per share. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 annualized dividend and a dividend yield of 7.24%. The ex-dividend date of this dividend was Wednesday, February 26th. Tractor Supply’s payout ratio is currently 45.77%.

Insider Buying and Selling

In other news, SVP Matthew L. Rubin sold 3,850 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $57.69, for a total value of $222,106.50. Following the transaction, the senior vice president now directly owns 31,787 shares of the company’s stock, valued at $1,833,792.03. This represents a 10.80 % 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 this link. Also, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $54.59, for a total transaction of $4,809,106.05. Following the sale, the chief executive officer now directly owns 488,852 shares of the company’s stock, valued at $26,686,430.68. The trade was a 15.27 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 137,993 shares of company stock valued at $7,538,068. 0.65% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on TSCO shares. Stephens initiated coverage on Tractor Supply in a research report on Wednesday, April 9th. They set an “equal weight” rating and a $56.00 price target on the stock. Raymond James dropped their target price on shares of Tractor Supply from $61.00 to $57.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Mizuho reduced their price target on shares of Tractor Supply from $62.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Citigroup cut their price objective on shares of Tractor Supply from $59.00 to $51.00 and set a “neutral” rating on the stock in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. lowered their target price on Tractor Supply from $59.00 to $56.00 and set a “neutral” rating for the company in a report on Monday, April 28th. 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 given a strong buy rating to the company. According to MarketBeat, Tractor Supply has an average rating of “Moderate Buy” and an average price target of $58.02.

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.