Canada Post Corp Registered Pension Plan Acquires Shares of 9,410 Tractor Supply (NASDAQ:TSCO)

Canada Post Corp Registered Pension Plan acquired a new stake in shares of Tractor Supply (NASDAQ:TSCO - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 9,410 shares of the specialty retailer's stock, valued at approximately $499,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Mariner LLC boosted its position in shares of Tractor Supply by 405.2% in the 4th quarter. Mariner LLC now owns 184,683 shares of the specialty retailer's stock worth $9,798,000 after purchasing an additional 148,128 shares in the last quarter. Barclays PLC raised its position in shares of Tractor Supply by 415.0% in the 4th quarter. Barclays PLC now owns 1,066,489 shares of the specialty retailer's stock worth $56,587,000 after purchasing an additional 859,420 shares during the last quarter. Fiducient Advisors LLC bought a new position in Tractor Supply in the 4th quarter worth about $1,090,000. Summit Investment Advisors Inc. grew its position in Tractor Supply by 379.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,250 shares of the specialty retailer's stock valued at $332,000 after purchasing an additional 4,946 shares during the last quarter. Finally, Synovus Financial Corp lifted its stake in shares of Tractor Supply by 389.4% in the fourth quarter. Synovus Financial Corp now owns 11,965 shares of the specialty retailer's stock worth $635,000 after buying an additional 9,520 shares in the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tractor Supply

In related 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Colin Yankee sold 24,602 shares of the firm's 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 of the company's stock, valued at approximately $1,821,876.75. The trade was a 42.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 137,993 shares of company stock worth $7,538,068. 0.65% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on TSCO shares. Barclays lowered their price target on Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating on the stock in a report on Monday, December 30th. Stephens assumed coverage on shares of Tractor Supply in a report on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 price objective for the company. 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 report on Friday, January 31st. Telsey Advisory Group reiterated an "outperform" rating and set a $67.00 target price on shares of Tractor Supply in a research note on Thursday. Finally, JPMorgan Chase & Co. lifted their price objective on Tractor Supply from $58.00 to $59.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $59.07.

Tractor Supply Price Performance

Shares of Tractor Supply stock traded down $0.64 during trading hours on Monday, reaching $49.52. The company's stock had a trading volume of 664,957 shares, compared to its average volume of 5,094,369. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. Tractor Supply has a one year low of $46.97 and a one year high of $61.53. The firm has a 50 day moving average price of $53.74 and a 200-day moving average price of $55.07. The stock has a market cap of $26.33 billion, a P/E ratio of 24.27, a P/E/G ratio of 2.95 and a beta of 0.88.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share (EPS) 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%. On average, analysts predict that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply announced that its board 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 purchase up to 3.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its shares are undervalued.

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were given a dividend of $0.92 per share. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a yield of 7.43%. Tractor Supply's payout ratio 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.