Intrust Bank NA Buys 7,600 Shares of Tractor Supply (NASDAQ:TSCO)

Intrust Bank NA increased its position in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 389.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,550 shares of the specialty retailer's stock after acquiring an additional 7,600 shares during the period. Intrust Bank NA's holdings in Tractor Supply were worth $507,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Tractor Supply by 392.5% during the 4th quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer's stock valued at $3,397,643,000 after purchasing an additional 51,031,178 shares during the last quarter. JPMorgan Chase & Co. raised its position in Tractor Supply by 391.0% in the fourth quarter. JPMorgan Chase & Co. now owns 10,821,654 shares of the specialty retailer's stock valued at $574,197,000 after purchasing an additional 8,617,869 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Tractor Supply during the fourth quarter worth about $329,458,000. Norges Bank acquired a new position in shares of Tractor Supply in the fourth quarter valued at approximately $289,491,000. Finally, Meridiem Investment Management Ltd. raised its holdings in Tractor Supply by 398.9% in 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 buying an additional 4,092,808 shares during the last quarter. 98.72% of the stock is owned by institutional investors.

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Tractor Supply Stock Performance

Shares of Tractor Supply stock traded up $0.03 on Tuesday, reaching $55.13. 4,991,376 shares of the company traded hands, compared to its average volume of 5,066,147. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. The firm has a market capitalization of $29.44 billion, a PE ratio of 27.02, a PEG ratio of 2.95 and a beta of 0.85. The company has a 50 day moving average of $55.06 and a 200 day moving average of $55.65. Tractor Supply has a 52 week low of $48.30 and a 52 week high of $61.53.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its 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 return on equity of 49.01% and a net margin of 7.40%. Equities analysts forecast that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply declared that its board 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 repurchase up to 3.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board of directors believes its shares are undervalued.

Tractor Supply Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were paid a $0.92 dividend. This is an increase from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 annualized dividend and a dividend yield of 6.68%. Tractor Supply's dividend payout ratio (DPR) is presently 45.10%.

Insider Activity at Tractor Supply

In related news, SVP Matthew L. Rubin sold 3,850 shares of the business's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $57.69, for a total transaction of $222,106.50. Following the sale, the senior vice president now directly owns 31,787 shares in the company, valued at approximately $1,833,792.03. The trade was a 10.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 value of $1,332,198.30. Following the completion of the transaction, the executive vice president now owns 33,645 shares of the company's stock, valued at approximately $1,821,876.75. This represents a 42.24 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 137,993 shares of company stock worth $7,538,068. 0.24% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

TSCO has been the subject of several recent research reports. Barclays decreased their price target on shares of Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating for the company in a research report on Monday, December 30th. Loop Capital lifted their target price on shares of Tractor Supply from $53.00 to $58.00 and gave the stock a "hold" rating in a research note on Thursday, December 12th. Mizuho lifted their price objective on Tractor Supply from $60.00 to $62.00 and gave the stock an "outperform" rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. boosted their price target on Tractor Supply from $58.00 to $59.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and set a $67.00 price objective on shares of Tractor Supply in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Tractor Supply currently has a consensus rating of "Moderate Buy" and an average target price of $59.22.

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.