Cibc World Markets Corp Has $4.48 Million Stake in Tractor Supply (NASDAQ:TSCO)

Cibc World Markets Corp grew its position in Tractor Supply (NASDAQ:TSCO) by 475.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 84,515 shares of the specialty retailer’s stock after purchasing an additional 69,839 shares during the quarter. Cibc World Markets Corp’s holdings in Tractor Supply were worth $4,484,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BOK Financial Private Wealth Inc. grew its position in shares of Tractor Supply by 330.2% in the fourth quarter. BOK Financial Private Wealth Inc. now owns 21,355 shares of the specialty retailer’s stock valued at $1,133,000 after purchasing an additional 16,391 shares during the last quarter. Blueshift Asset Management LLC boosted its stake in shares of Tractor Supply by 32.7% in the third quarter. Blueshift Asset Management LLC now owns 9,945 shares of the specialty retailer’s stock valued at $2,893,000 after buying an additional 2,452 shares during the period. Callan Family Office LLC bought a new stake in shares of Tractor Supply in the fourth quarter valued at approximately $503,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Tractor Supply by 379.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 890,898 shares of the specialty retailer’s stock valued at $47,271,000 after buying an additional 704,896 shares during the period. Finally, Citizens Financial Group Inc. RI boosted its stake in shares of Tractor Supply by 368.7% in the fourth quarter. Citizens Financial Group Inc. RI now owns 7,485 shares of the specialty retailer’s stock valued at $397,000 after buying an additional 5,888 shares during the period. Institutional investors and hedge funds own 98.72% of the company’s stock.

Tractor Supply Stock Performance

NASDAQ TSCO opened at $52.80 on Thursday. The company has a market capitalization of $28.20 billion, a price-to-earnings ratio of 25.88, a PEG ratio of 2.95 and a beta of 0.85. Tractor Supply has a twelve month low of $48.30 and a twelve month high of $61.53. The stock has a fifty day simple moving average of $55.12 and a 200 day simple moving average of $55.70. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.28 by ($1.84). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. Sell-side analysts expect that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were issued 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 dividend on an annualized basis and a yield of 6.97%. The ex-dividend date was Wednesday, February 26th. Tractor Supply’s dividend payout ratio (DPR) is presently 45.10%.

Tractor Supply announced that its Board of Directors has approved a stock buyback plan on Thursday, February 13th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the specialty retailer to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on TSCO shares. JPMorgan Chase & Co. boosted their price target on Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Bank of America boosted their price target on Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a research note on Thursday, January 16th. Truist Financial cut their price target on Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Mizuho upped their target price on Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Finally, Telsey Advisory Group restated an “outperform” rating and set a $67.00 target price on shares of Tractor Supply in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $59.22.

Insiders Place Their Bets

In other Tractor Supply news, EVP Colin Yankee sold 24,602 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $54.15, for a total transaction of $1,332,198.30. Following the completion of the sale, the executive vice president now directly owns 33,645 shares in the company, valued at approximately $1,821,876.75. This trade represents a 42.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Matthew L. Rubin sold 3,850 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $57.69, for a total value of $222,106.50. Following the sale, the senior vice president now owns 31,787 shares of the company’s stock, valued at approximately $1,833,792.03. The trade was a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 137,993 shares of company stock worth $7,538,068. Company insiders own 0.24% 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.