15,975 Shares in Tractor Supply (NASDAQ:TSCO) Purchased by Allstate Corp

Allstate Corp acquired a new position in Tractor Supply (NASDAQ:TSCO - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 15,975 shares of the specialty retailer's stock, valued at approximately $848,000.

Several other institutional investors and hedge funds have also recently modified their holdings of TSCO. Smithfield Trust Co increased its stake 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 worth $25,000 after acquiring an additional 352 shares in the last quarter. PrairieView Partners LLC lifted its holdings in shares of Tractor Supply by 400.0% during the fourth quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer's stock valued at $26,000 after purchasing an additional 400 shares during the last quarter. Future Financial Wealth Managment LLC increased its position in Tractor Supply by 400.0% during 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 fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock valued at $27,000 after buying an additional 400 shares during the last quarter. Finally, Kentucky Trust Co bought a new position in shares of Tractor Supply during the fourth quarter valued at $27,000. 98.72% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Harry A. Lawton III sold 88,095 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $54.59, for a total value of $4,809,106.05. Following the transaction, the chief executive officer now owns 488,852 shares in the company, valued at approximately $26,686,430.68. This represents a 15.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Colin Yankee sold 24,602 shares of the company's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $54.15, for a total value of $1,332,198.30. Following the completion of the transaction, the executive vice president now directly owns 33,645 shares of the company's stock, valued at $1,821,876.75. This trade represents a 42.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 137,993 shares of company stock worth $7,538,068 in the last quarter. 0.24% of the stock is owned by company insiders.

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Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Barclays decreased their price objective on shares of Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating for the company in a report on Monday, December 30th. Truist Financial lowered their target price on shares of Tractor Supply from $63.00 to $60.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Telsey Advisory Group reiterated an "outperform" rating and issued a $67.00 price target on shares of Tractor Supply in a research note on Thursday, January 30th. Guggenheim restated a "buy" rating and set a $60.00 price objective on shares of Tractor Supply in a research report on Friday, January 31st. Finally, Loop Capital lifted their target price on shares of Tractor Supply from $53.00 to $58.00 and gave the stock a "hold" rating in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $59.22.

Tractor Supply Stock Down 4.7 %

Shares of TSCO traded down $2.61 during mid-day trading on Friday, hitting $53.16. 4,398,158 shares of the company's stock were exchanged, compared to its average volume of 5,072,968. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. The company has a market cap of $28.39 billion, a price-to-earnings ratio of 25.98, a P/E/G ratio of 2.95 and a beta of 0.85. The stock's 50-day moving average is $54.95 and its 200-day moving average is $55.64. Tractor Supply has a fifty-two week low of $48.30 and a fifty-two week high of $61.53.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 EPS for the quarter, missing the consensus estimate of $2.28 by ($1.84). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. On average, sell-side analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

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

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were issued a $0.92 dividend. The ex-dividend date was Wednesday, February 26th. This is a positive change from Tractor Supply's previous quarterly dividend of $0.22. This represents a $3.68 dividend on an annualized basis and a yield of 6.92%. Tractor Supply's dividend payout ratio (DPR) is 45.10%.

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.