Elo Mutual Pension Insurance Co Takes $2.96 Million Position in Tractor Supply (NASDAQ:TSCO)

Elo Mutual Pension Insurance Co bought a new stake in Tractor Supply (NASDAQ:TSCO - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 55,715 shares of the specialty retailer's stock, valued at approximately $2,956,000.

Several other large investors have also modified their holdings of TSCO. Vanguard Group Inc. raised its stake in Tractor Supply by 392.5% during the fourth quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer's stock valued at $3,397,643,000 after buying an additional 51,031,178 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Tractor Supply during the 4th quarter valued at approximately $329,458,000. Meridiem Investment Management Ltd. raised its position in shares of Tractor Supply by 398.9% during the 4th quarter. Meridiem Investment Management Ltd. now owns 5,118,785 shares of the specialty retailer's stock valued at $271,674,000 after acquiring an additional 4,092,808 shares in the last quarter. Amundi lifted its stake in Tractor Supply by 495.2% during the fourth quarter. Amundi now owns 4,145,992 shares of the specialty retailer's stock worth $225,501,000 after purchasing an additional 3,449,442 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Tractor Supply by 403.3% in the fourth quarter. Bank of New York Mellon Corp now owns 3,912,752 shares of the specialty retailer's stock worth $207,611,000 after purchasing an additional 3,135,384 shares during the period. Institutional investors own 98.72% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TSCO shares. Truist Financial reduced their price target 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 reissued an "outperform" rating and issued a $67.00 target price on shares of Tractor Supply in a report on Thursday, January 30th. Bank of America upped their target price on Tractor Supply from $44.00 to $53.00 and gave the company an "underperform" rating in a report on Thursday, January 16th. Loop Capital raised their price target on Tractor Supply from $53.00 to $58.00 and gave the stock a "hold" rating in a report on Thursday, December 12th. Finally, 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. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $59.22.

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Insider Activity

In related news, CEO Harry A. Lawton III sold 88,095 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $54.59, for a total transaction of $4,809,106.05. Following the completion of the sale, the chief executive officer now directly owns 488,852 shares in the company, valued at approximately $26,686,430.68. This trade represents a 15.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Melissa Kersey sold 9,300 shares of the business's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $53.17, for a total value of $494,481.00. Following the completion of the transaction, the executive vice president now owns 34,961 shares in the company, valued at $1,858,876.37. This trade represents a 21.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 137,993 shares of company stock worth $7,538,068 in the last 90 days. Company insiders own 0.24% of the company's stock.

Tractor Supply Trading Up 3.0 %

NASDAQ TSCO traded up $1.63 on Monday, hitting $55.10. 7,950,194 shares of the company were exchanged, compared to its average volume of 5,066,444. Tractor Supply has a twelve month low of $48.30 and a twelve month high of $61.53. The company's 50 day moving average price is $55.03 and its 200-day moving average price is $55.66. The firm has a market capitalization of $29.42 billion, a P/E ratio of 27.01, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. 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 (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%. Analysts predict that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The firm 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. 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 6.68%. 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 buy up to 3.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its stock is undervalued.

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.