Mitsubishi UFJ Asset Management Co. Ltd. Grows Stake in Tractor Supply (NASDAQ:TSCO)

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Tractor Supply (NASDAQ:TSCO - Free Report) by 428.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 842,271 shares of the specialty retailer's stock after buying an additional 682,963 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.16% of Tractor Supply worth $43,739,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Smithfield Trust Co raised its holdings in Tractor Supply by 286.2% during the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock worth $25,000 after acquiring an additional 352 shares in the last quarter. PrairieView Partners LLC increased its position in shares of Tractor Supply by 400.0% during the 4th quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer's stock worth $26,000 after purchasing an additional 400 shares during the last quarter. Future Financial Wealth Managment LLC increased its position in shares of Tractor Supply by 400.0% during the 4th quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 400 shares during the last quarter. Archer Investment Corp raised its stake in shares of Tractor Supply by 400.0% during the 4th quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 400 shares in the last quarter. Finally, Kentucky Trust Co acquired a new stake in shares of Tractor Supply in the 4th quarter valued at approximately $27,000. 98.72% of the stock is owned by institutional investors.

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Insider Buying and Selling

In other Tractor Supply news, EVP Melissa Kersey sold 9,300 shares of Tractor Supply stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $53.17, for a total transaction of $494,481.00. Following the completion of the transaction, the executive vice president now owns 34,961 shares in the company, valued at approximately $1,858,876.37. The trade was a 21.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total value of $222,106.50. Following the transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 137,993 shares of company stock worth $7,538,068 in the last ninety days. Corporate insiders own 0.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on TSCO shares. Truist Financial lowered their price objective on shares of Tractor Supply from $63.00 to $60.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Loop Capital raised their price target on shares of Tractor Supply from $53.00 to $58.00 and gave the stock a "hold" rating in a research report on Thursday, December 12th. Guggenheim reiterated a "buy" rating and set a $60.00 target price on shares of Tractor Supply in a research report on Friday, January 31st. Mizuho increased their price target on shares of Tractor Supply from $60.00 to $62.00 and gave the stock an "outperform" rating in a research report on Thursday, January 23rd. Finally, Telsey Advisory Group reiterated an "outperform" rating and issued a $67.00 target price on shares of Tractor Supply in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $59.22.

Tractor Supply Trading Down 1.4 %

TSCO traded down $0.79 during trading on Thursday, reaching $54.83. 1,783,562 shares of the stock traded hands, compared to its average volume of 5,051,524. The stock's 50-day moving average is $54.98 and its 200 day moving average is $55.64. Tractor Supply has a 12 month low of $48.30 and a 12 month high of $61.53. The stock has a market capitalization of $29.28 billion, a PE ratio of 26.88, a P/E/G ratio of 2.95 and a beta of 0.85. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82.

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

Tractor Supply declared that its board has approved a stock buyback 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 reacquire up to 3.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its shares are undervalued.

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 dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 6.71%. This is a positive change from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. Tractor Supply's dividend payout ratio is presently 45.10%.

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.