Legal & General Group Plc raised its holdings in Tractor Supply (NASDAQ:TSCO - Free Report) by 330.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,447,964 shares of the specialty retailer's stock after purchasing an additional 3,415,318 shares during the period. Legal & General Group Plc owned about 0.83% of Tractor Supply worth $236,009,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in TSCO. Janus Henderson Group PLC increased its holdings in Tractor Supply by 2.6% in the 3rd quarter. Janus Henderson Group PLC now owns 14,557 shares of the specialty retailer's stock worth $4,236,000 after acquiring an additional 363 shares in the last quarter. National Bank of Canada FI increased its stake in shares of Tractor Supply by 31.3% during the third quarter. National Bank of Canada FI now owns 49,404 shares of the specialty retailer's stock worth $14,373,000 after purchasing an additional 11,777 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Tractor Supply during the 3rd quarter worth about $220,000. MML Investors Services LLC lifted its stake in Tractor Supply by 30.4% in the 3rd quarter. MML Investors Services LLC now owns 16,389 shares of the specialty retailer's stock valued at $4,768,000 after buying an additional 3,817 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in Tractor Supply by 32.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 169,270 shares of the specialty retailer's stock worth $49,246,000 after buying an additional 41,362 shares during the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Tractor Supply
In other Tractor Supply news, CEO Harry A. Lawton III sold 88,095 shares of the company's stock in a transaction dated 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 owns 488,852 shares in the company, valued at $26,686,430.68. This represents a 15.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Colin Yankee sold 24,602 shares of the company'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 sale, the executive vice president now owns 33,645 shares in the company, valued at $1,821,876.75. The trade was a 42.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 137,993 shares of company stock valued at $7,538,068. 0.24% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
A number of equities analysts have commented on TSCO shares. Bank of America increased their target price on Tractor Supply from $44.00 to $53.00 and gave the company an "underperform" rating in a report on Thursday, January 16th. 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. JPMorgan Chase & Co. lifted their target price on shares of Tractor Supply from $58.00 to $59.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. 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 research report on Thursday, January 23rd. Finally, Truist Financial lowered their price target on shares of Tractor Supply from $63.00 to $60.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $59.07.
Check Out Our Latest Analysis on TSCO
Tractor Supply Trading Up 1.0 %
Shares of TSCO stock traded up $0.51 during trading hours on Monday, hitting $52.18. The company had a trading volume of 957,396 shares, compared to its average volume of 5,113,034. Tractor Supply has a fifty-two week low of $46.97 and a fifty-two week high of $61.53. 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 company's fifty day moving average is $54.07 and its 200 day moving average is $55.35. The stock has a market capitalization of $27.74 billion, a PE ratio of 25.58, a price-to-earnings-growth ratio of 2.95 and a beta of 0.88.
Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 EPS for the quarter, missing the consensus estimate 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 expect that Tractor Supply will post 2.17 earnings per share for the current fiscal year.
Tractor Supply announced that its Board of Directors has authorized a share buyback plan on Thursday, February 13th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the specialty retailer to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.
Tractor Supply Increases Dividend
The firm also recently declared 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. The ex-dividend date was Wednesday, February 26th. 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 7.05%. Tractor Supply's dividend payout ratio is 45.10%.
About Tractor Supply
(
Free Report)
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.
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