Meiji Yasuda Asset Management Co Ltd. Raises Holdings in Tractor Supply (NASDAQ:TSCO)

Meiji Yasuda Asset Management Co Ltd. grew its position in Tractor Supply (NASDAQ:TSCO - Free Report) by 408.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,060 shares of the specialty retailer's stock after buying an additional 13,708 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.'s holdings in Tractor Supply were worth $905,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in TSCO. BOK Financial Private Wealth Inc. raised its stake 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 worth $1,133,000 after acquiring an additional 16,391 shares in the last quarter. Blueshift Asset Management LLC grew its holdings in shares of Tractor Supply by 32.7% during the 3rd quarter. Blueshift Asset Management LLC now owns 9,945 shares of the specialty retailer's stock valued at $2,893,000 after purchasing an additional 2,452 shares during the last quarter. Callan Family Office LLC acquired a new position in Tractor Supply during the 4th quarter worth approximately $503,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Tractor Supply by 379.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 890,898 shares of the specialty retailer's stock valued at $47,271,000 after purchasing an additional 704,896 shares during the last quarter. Finally, Citizens Financial Group Inc. RI boosted its position in Tractor Supply by 368.7% in the fourth quarter. Citizens Financial Group Inc. RI now owns 7,485 shares of the specialty retailer's stock valued at $397,000 after buying an additional 5,888 shares in the last quarter. Institutional investors own 98.72% of the company's stock.

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Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $54.59, for a total transaction of $4,809,106.05. Following the completion of the sale, the chief executive officer now directly owns 488,852 shares in the company, valued at $26,686,430.68. The trade was a 15.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kurt D. Barton sold 12,146 shares of the company's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $56.00, for a total value of $680,176.00. Following the completion of the transaction, the chief financial officer now owns 47,715 shares of the company's stock, valued at $2,672,040. The trade was a 20.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 137,993 shares of company stock valued at $7,538,068. Company insiders own 0.24% of the company's stock.

Wall Street Analysts Forecast Growth

TSCO has been the subject of several research analyst reports. Truist Financial lowered their price target on shares of Tractor Supply from $63.00 to $60.00 and set a "buy" rating for the company in a report on Friday, January 31st. 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 research report on Thursday, January 16th. Loop Capital lifted their price target on Tractor Supply from $53.00 to $58.00 and gave the company a "hold" rating in a research note on Thursday, December 12th. Barclays lowered their price objective on Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating for the company in a research note on Monday, December 30th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Tractor Supply from $58.00 to $59.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, six have assigned 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, Tractor Supply presently has a consensus rating of "Moderate Buy" and an average target price of $59.22.

Tractor Supply Stock Up 3.0 %

NASDAQ TSCO traded up $1.63 during trading hours on Monday, hitting $55.10. The company's stock had a trading volume of 7,950,194 shares, compared to its average volume of 5,066,446. The company has a market capitalization of $29.42 billion, a PE ratio of 27.01, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. 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 52 week low of $48.30 and a 52 week high of $61.53. The company's 50-day simple moving average is $55.06 and its two-hundred day simple moving average is $55.65.

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

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

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors 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 of this dividend was Wednesday, February 26th. This represents a $3.68 annualized dividend and a yield of 6.68%. Tractor Supply's dividend payout ratio is presently 45.10%.

Tractor Supply Company 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.