Bessemer Group Inc. Has $5.45 Million Stock Position in Tractor Supply (NASDAQ:TSCO)

Bessemer Group Inc. grew its stake in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 400.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 102,752 shares of the specialty retailer's stock after buying an additional 82,223 shares during the quarter. Bessemer Group Inc.'s holdings in Tractor Supply were worth $5,452,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in TSCO. Estabrook Capital Management boosted its stake in Tractor Supply by 400.0% during the 4th quarter. Estabrook Capital Management now owns 2,350 shares of the specialty retailer's stock valued at $125,000 after purchasing an additional 1,880 shares in the last quarter. Fernwood Investment Management LLC lifted its holdings in shares of Tractor Supply by 400.0% in the fourth quarter. Fernwood Investment Management LLC now owns 7,825 shares of the specialty retailer's stock valued at $415,000 after buying an additional 6,260 shares during the period. APG Asset Management N.V. boosted its stake in Tractor Supply by 3,028.1% during the fourth quarter. APG Asset Management N.V. now owns 356,600 shares of the specialty retailer's stock valued at $18,273,000 after buying an additional 345,200 shares in the last quarter. Advisory Services Network LLC grew its holdings in Tractor Supply by 394.9% during the fourth quarter. Advisory Services Network LLC now owns 91,936 shares of the specialty retailer's stock worth $4,878,000 after acquiring an additional 73,361 shares during the period. Finally, Bank of Nova Scotia raised its position in Tractor Supply by 412.1% in the fourth quarter. Bank of Nova Scotia now owns 71,508 shares of the specialty retailer's stock worth $3,794,000 after acquiring an additional 57,545 shares in the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

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Insider Activity

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

Tractor Supply Stock Up 1.0 %

NASDAQ:TSCO traded up $0.50 during trading hours on Monday, reaching $52.17. The company's stock had a trading volume of 3,863,662 shares, compared to its average volume of 5,124,228. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. The company has a market cap of $27.73 billion, a price-to-earnings ratio of 25.57, a price-to-earnings-growth ratio of 2.95 and a beta of 0.88. Tractor Supply has a one year low of $46.97 and a one year high of $61.53. The business's 50-day moving average is $54.04 and its 200-day moving average is $55.31.

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

Tractor Supply declared that its Board of Directors has initiated a stock repurchase plan on Thursday, February 13th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the specialty retailer to repurchase up to 3.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

Tractor Supply Increases Dividend

The company 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 represents a $3.68 dividend on an annualized basis and a yield of 7.05%. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, February 26th. Tractor Supply's dividend payout ratio is 45.10%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TSCO. Truist Financial lowered their price objective 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 reaffirmed an "outperform" rating and issued a $67.00 price target on shares of Tractor Supply in a report on Thursday, January 30th. Guggenheim reissued a "buy" rating and set a $60.00 price objective on shares of Tractor Supply in a research note on Friday, January 31st. Mizuho lifted their target price on Tractor Supply from $60.00 to $62.00 and gave the stock an "outperform" rating in a report on Thursday, January 23rd. Finally, Barclays decreased their price target on Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating for the company in a research report on Monday, December 30th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Tractor Supply presently has an average rating of "Moderate Buy" and an average target price of $59.07.

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.