FineMark National Bank & Trust Increases Stake in Tractor Supply (NASDAQ:TSCO)

FineMark National Bank & Trust raised its stake in Tractor Supply (NASDAQ:TSCO - Free Report) by 400.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,585 shares of the specialty retailer's stock after purchasing an additional 35,682 shares during the period. FineMark National Bank & Trust's holdings in Tractor Supply were worth $2,366,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BOK Financial Private Wealth Inc. raised its position in shares of Tractor Supply by 330.2% during the fourth quarter. BOK Financial Private Wealth Inc. now owns 21,355 shares of the specialty retailer's stock worth $1,133,000 after purchasing an additional 16,391 shares during the period. Blueshift Asset Management LLC raised its holdings in Tractor Supply by 32.7% during the third quarter. Blueshift Asset Management LLC now owns 9,945 shares of the specialty retailer's stock worth $2,893,000 after buying an additional 2,452 shares during the last quarter. Callan Family Office LLC acquired a new position in Tractor Supply during the fourth quarter worth $503,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Tractor Supply by 379.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 890,898 shares of the specialty retailer's stock valued at $47,271,000 after buying an additional 704,896 shares in the last quarter. Finally, Citizens Financial Group Inc. RI grew its holdings in shares of Tractor Supply by 368.7% during the fourth quarter. Citizens Financial Group Inc. RI now owns 7,485 shares of the specialty retailer's stock valued at $397,000 after buying an additional 5,888 shares during the last quarter. 98.72% of the stock is owned by institutional investors.

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Insider Transactions at Tractor Supply

In related news, EVP Colin Yankee sold 24,602 shares of the business'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 in the company, valued at $1,821,876.75. The trade was a 42.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Matthew L. Rubin sold 3,850 shares of the stock in a transaction on 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 owns 31,787 shares in the company, valued at approximately $1,833,792.03. This represents a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 137,993 shares of company stock valued at $7,538,068 in the last quarter. 0.58% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on TSCO shares. JPMorgan Chase & Co. upped their target price on shares of Tractor Supply from $58.00 to $59.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Truist Financial lowered their price objective on Tractor Supply from $63.00 to $60.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Guggenheim reiterated a "buy" rating and set a $60.00 price target on shares of Tractor Supply in a report on Friday, January 31st. Barclays cut their price objective on shares of Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating on the stock in a report on Monday, December 30th. Finally, Mizuho increased their target price on shares of Tractor Supply from $60.00 to $62.00 and gave the company an "outperform" rating in a report on Thursday, January 23rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $59.22.

Tractor Supply Stock Down 1.3 %

Shares of NASDAQ TSCO traded down $0.69 during mid-day trading on Friday, hitting $53.47. 3,599,669 shares of the stock traded hands, compared to its average volume of 5,054,910. The company has a market cap of $28.55 billion, a price-to-earnings ratio of 26.21, a PEG ratio of 2.95 and a beta of 0.85. The stock has a fifty day moving average price of $55.03 and a 200-day moving average price of $55.65. Tractor Supply has a 52 week low of $48.30 and a 52 week high of $61.53. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43.

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

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

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were given a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 6.88%. The ex-dividend date was Wednesday, February 26th. This is a positive change from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's payout ratio is currently 45.10%.

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.