180,355 Shares in Tractor Supply (NASDAQ:TSCO) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new position in Tractor Supply (NASDAQ:TSCO - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 180,355 shares of the specialty retailer's stock, valued at approximately $9,570,000.

Several other institutional investors have also bought and sold shares of the stock. Baldwin Investment Management LLC lifted its stake in shares of Tractor Supply by 0.3% in the 3rd quarter. Baldwin Investment Management LLC now owns 11,402 shares of the specialty retailer's stock worth $3,317,000 after acquiring an additional 38 shares during the period. Cynosure Group LLC raised its holdings in Tractor Supply by 2.8% during the third quarter. Cynosure Group LLC now owns 1,529 shares of the specialty retailer's stock worth $445,000 after purchasing an additional 42 shares in the last quarter. Larson Financial Group LLC lifted its position in Tractor Supply by 29.4% in the third quarter. Larson Financial Group LLC now owns 286 shares of the specialty retailer's stock worth $83,000 after purchasing an additional 65 shares during the period. Pine Valley Investments Ltd Liability Co boosted its stake in Tractor Supply by 7.1% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 978 shares of the specialty retailer's stock valued at $285,000 after purchasing an additional 65 shares in the last quarter. Finally, Providence Capital Advisors LLC bought a new position in Tractor Supply during the 3rd quarter valued at $32,000. Institutional investors and hedge funds own 98.72% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on TSCO. Telsey Advisory Group reissued an "outperform" rating and issued a $67.00 price objective on shares of Tractor Supply in a research note on Thursday, January 30th. Mizuho upped their price target 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. Loop Capital raised their price objective on shares of Tractor Supply from $53.00 to $58.00 and gave the company a "hold" rating in a research report on Thursday, December 12th. Truist Financial dropped their target price on shares of Tractor Supply from $63.00 to $60.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Finally, Guggenheim reaffirmed a "buy" rating and set a $60.00 target price on shares of Tractor Supply in a report on Friday, January 31st. 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $59.22.

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Tractor Supply Stock Down 1.3 %

Shares of Tractor Supply stock traded down $0.69 during 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 stock has a market cap of $28.55 billion, a P/E ratio of 26.21, a PEG ratio of 2.95 and a beta of 0.85. The company has a fifty day moving average price of $55.03 and a two-hundred day moving average price of $55.64. Tractor Supply has a twelve month low of $48.30 and a twelve month 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 posted 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 net margin of 7.40% and a return on equity of 49.01%. Equities research analysts predict that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The firm also recently announced 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. This represents a $3.68 annualized dividend and a yield of 6.88%. This is an increase from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, February 26th. Tractor Supply's dividend payout ratio is presently 45.10%.

Tractor Supply announced that its Board of Directors has authorized a stock repurchase plan on Thursday, February 13th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the specialty retailer to reacquire up to 3.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at Tractor Supply

In related news, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $54.59, for a total value of $4,809,106.05. Following the transaction, the chief executive officer now owns 488,852 shares in the company, valued at $26,686,430.68. This trade represents a 15.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 shares were sold at an average price of $57.69, for a total transaction of $222,106.50. Following the sale, the senior vice president now owns 31,787 shares of the company's stock, valued at $1,833,792.03. This trade represents a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 137,993 shares of company stock worth $7,538,068 over the last three months. Corporate insiders own 0.58% of the company's stock.

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.