Huntington National Bank Raises Stake in Tractor Supply (NASDAQ:TSCO)

Huntington National Bank raised its position in Tractor Supply (NASDAQ:TSCO - Free Report) by 415.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,525 shares of the specialty retailer's stock after purchasing an additional 22,987 shares during the period. Huntington National Bank's holdings in Tractor Supply were worth $1,514,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in TSCO. CIBC Private Wealth Group LLC increased its stake in Tractor Supply by 385.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,089,542 shares of the specialty retailer's stock worth $59,260,000 after acquiring an additional 865,273 shares during the last quarter. BOK Financial Private Wealth Inc. lifted its position in 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 valued at $1,133,000 after purchasing an additional 16,391 shares during the last quarter. Blueshift Asset Management LLC lifted its position in Tractor Supply by 571.8% during the fourth quarter. Blueshift Asset Management LLC now owns 66,815 shares of the specialty retailer's stock valued at $3,545,000 after purchasing an additional 56,870 shares during the last quarter. Callan Family Office LLC purchased a new position in Tractor Supply in the 4th quarter worth approximately $503,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Tractor Supply by 379.0% during the 4th 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. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

TSCO has been the topic of a number of research analyst reports. Truist Financial reduced their target price on Tractor Supply from $63.00 to $60.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Guggenheim reissued a "buy" rating and set a $60.00 price objective on shares of Tractor Supply in a report on Friday, January 31st. Loop Capital upped their target price on Tractor Supply from $53.00 to $58.00 and gave the stock a "hold" rating in a research note on Thursday, December 12th. Telsey Advisory Group reissued an "outperform" rating and set a $67.00 price target on shares of Tractor Supply in a research note on Thursday, January 30th. Finally, Barclays decreased their target price on shares of Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating on the stock 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 given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $59.07.

Insider Activity at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $57.69, for a total value 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 represents a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Colin Yankee sold 24,602 shares of the firm'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 approximately $1,821,876.75. The trade was a 42.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 137,993 shares of company stock valued at $7,538,068 over the last 90 days. Corporate insiders own 0.24% of the company's stock.

Tractor Supply Stock Up 7.0 %

Shares of NASDAQ:TSCO traded up $3.36 during trading on Wednesday, hitting $51.38. The stock had a trading volume of 7,509,310 shares, compared to its average volume of 5,127,744. The company has a market capitalization of $27.31 billion, a PE ratio of 25.19, a PEG ratio of 2.95 and a beta of 0.88. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. The firm's fifty day moving average is $54.18 and its 200 day moving average is $55.42. Tractor Supply has a 12 month low of $46.97 and a 12 month high of $61.53.

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%. Analysts anticipate that Tractor Supply will post 2.17 EPS for the current fiscal year.

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 paid a dividend of $0.92 per share. 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 7.16%. The ex-dividend date was Wednesday, February 26th. Tractor Supply's dividend payout ratio (DPR) is currently 45.10%.

Tractor Supply declared that its board has authorized a stock buyback program on Thursday, February 13th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the specialty retailer to purchase up to 3.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its shares are undervalued.

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.