Tractor Supply (NASDAQ:TSCO) Position Boosted by Korea Investment CORP

Korea Investment CORP boosted its stake in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 459.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 87,600 shares of the specialty retailer's stock after buying an additional 71,949 shares during the quarter. Korea Investment CORP's holdings in Tractor Supply were worth $4,648,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position 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 worth $3,397,643,000 after acquiring an additional 51,031,178 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Tractor Supply in the 4th quarter valued at approximately $329,458,000. Meridiem Investment Management Ltd. grew its holdings in 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 buying an additional 4,092,808 shares during the last quarter. Amundi raised its holdings in shares of Tractor Supply by 495.2% in the fourth quarter. Amundi now owns 4,145,992 shares of the specialty retailer's stock worth $225,501,000 after acquiring an additional 3,449,442 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of 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 valued at $207,611,000 after acquiring an additional 3,135,384 shares in the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TSCO. Truist Financial cut their price objective on shares of Tractor Supply from $63.00 to $60.00 and set a "buy" rating for the company in a research report on Friday, January 31st. Mizuho upped their price objective on shares of Tractor Supply from $60.00 to $62.00 and gave the company an "outperform" rating in a research note on Thursday, January 23rd. Loop Capital boosted their target price on shares of Tractor Supply from $53.00 to $58.00 and gave the company a "hold" rating in a report on Thursday, December 12th. JPMorgan Chase & Co. lifted their price target on shares of Tractor Supply from $58.00 to $59.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Finally, Barclays cut their target price on 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, six have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $59.22.

Insider Activity

In other Tractor Supply news, EVP Colin Yankee sold 24,602 shares of Tractor Supply stock in a transaction 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 owns 33,645 shares of the company's stock, valued at $1,821,876.75. The trade was a 42.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, 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 sale, the chief executive officer now directly owns 488,852 shares in the company, valued at $26,686,430.68. This trade represents a 15.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 137,993 shares of company stock worth $7,538,068. 0.24% of the stock is currently owned by insiders.

Tractor Supply Stock Down 6.0 %

NASDAQ:TSCO traded down $3.37 on Friday, reaching $52.40. The stock had a trading volume of 7,533,363 shares, compared to its average volume of 5,086,192. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. Tractor Supply has a 12-month low of $48.30 and a 12-month high of $61.53. The company has a 50-day moving average of $54.84 and a 200 day moving average of $55.61. The stock has a market cap of $27.86 billion, a P/E ratio of 25.69, a price-to-earnings-growth ratio of 2.95 and a beta of 0.88.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share (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%. On average, research analysts predict that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were given a $0.92 dividend. This is a positive change 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 7.02%. Tractor Supply's dividend payout ratio (DPR) is presently 45.10%.

Tractor Supply announced that its board has authorized a share buyback program on Thursday, February 13th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the specialty retailer to buy up to 3.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its shares are 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.