Citizens Financial Group Inc. RI Grows Stake in Tractor Supply (NASDAQ:TSCO)

Citizens Financial Group Inc. RI grew its position in Tractor Supply (NASDAQ:TSCO - Free Report) by 368.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,485 shares of the specialty retailer's stock after buying an additional 5,888 shares during the quarter. Citizens Financial Group Inc. RI's holdings in Tractor Supply were worth $397,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in TSCO. Raymond James Financial Inc. purchased a new stake in Tractor Supply in the fourth quarter worth about $329,458,000. Meridiem Investment Management Ltd. boosted its stake in shares of Tractor Supply by 398.9% during the fourth quarter. Meridiem Investment Management Ltd. now owns 5,118,785 shares of the specialty retailer's stock valued at $271,674,000 after purchasing an additional 4,092,808 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Tractor Supply by 3.5% during the third quarter. Wellington Management Group LLP now owns 4,740,864 shares of the specialty retailer's stock valued at $1,379,260,000 after purchasing an additional 161,503 shares in the last quarter. State Street Corp increased its holdings in Tractor Supply by 1.1% during the third quarter. State Street Corp now owns 4,518,341 shares of the specialty retailer's stock valued at $1,314,521,000 after buying an additional 47,951 shares during the period. Finally, Amundi raised its stake in Tractor Supply by 495.2% in the fourth quarter. Amundi now owns 4,145,992 shares of the specialty retailer's stock worth $225,501,000 after buying an additional 3,449,442 shares in the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Tractor Supply

In other news, EVP Colin Yankee sold 24,602 shares of Tractor Supply stock in a transaction dated 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 sale, the executive vice president now owns 33,645 shares in the company, valued at $1,821,876.75. This trade represents a 42.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Matthew L. Rubin sold 3,850 shares of the company's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $57.69, for a total transaction of $222,106.50. Following the transaction, the senior vice president now owns 31,787 shares of the company's stock, valued at approximately $1,833,792.03. This trade represents a 10.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 137,993 shares of company stock valued at $7,538,068 in the last ninety days. 0.24% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Truist Financial cut their price target on Tractor Supply from $63.00 to $60.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Barclays cut their target price on Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Monday, December 30th. Evercore ISI raised shares of Tractor Supply from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 15th. Guggenheim reaffirmed a "buy" rating and issued a $60.00 price objective on shares of Tractor Supply in a research report on Friday, January 31st. Finally, Telsey Advisory Group reissued an "outperform" rating and set a $67.00 target price on shares of Tractor Supply in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $59.22.

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Tractor Supply Stock Down 1.3 %

Shares of TSCO opened at $51.66 on Friday. The company has a market capitalization of $27.59 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 2.95 and a beta of 0.85. Tractor Supply has a 52 week low of $48.30 and a 52 week high of $61.53. The stock's 50-day moving average price is $55.21 and its 200-day moving average price is $55.77. 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 - Get Free Report) last announced its quarterly earnings results 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, sell-side analysts predict that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply declared that its Board of Directors has approved a share repurchase plan on Thursday, February 13th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the specialty retailer to buy up to 3.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors 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 $0.92 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 7.12%. This is an increase from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's dividend payout ratio is 45.10%.

Tractor Supply Company 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.

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