Mitsubishi UFJ Trust & Banking Corp Boosts Stock Position in Tractor Supply (NASDAQ:TSCO)

Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 388.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 314,545 shares of the specialty retailer's stock after purchasing an additional 250,197 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.06% of Tractor Supply worth $16,690,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of TSCO. Larson Financial Group LLC raised its position in Tractor Supply by 29.4% during the third quarter. Larson Financial Group LLC now owns 286 shares of the specialty retailer's stock valued at $83,000 after acquiring an additional 65 shares in the last quarter. Icon Wealth Advisors LLC acquired a new stake in Tractor Supply during the third quarter valued at $111,000. Glen Eagle Advisors LLC increased its holdings in Tractor Supply by 75.8% in the third quarter. Glen Eagle Advisors LLC now owns 464 shares of the specialty retailer's stock valued at $135,000 after buying an additional 200 shares in the last quarter. Smithfield Trust Co increased its holdings in Tractor Supply by 286.2% in the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock valued at $25,000 after buying an additional 352 shares in the last quarter. Finally, Future Financial Wealth Managment LLC raised its position in shares of Tractor Supply by 400.0% in the fourth quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer's stock worth $27,000 after acquiring an additional 400 shares during the period. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In other news, SVP Matthew L. Rubin sold 3,850 shares of the company's stock in a transaction on Thursday, February 20th. The stock was 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 approximately $1,833,792.03. This represents a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 approximately $1,821,876.75. This trade represents a 42.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,993 shares of company stock worth $7,538,068 over the last three months. Company insiders own 0.24% of the company's stock.

Tractor Supply Trading Up 0.2 %

Shares of Tractor Supply stock traded up $0.10 on Tuesday, reaching $55.20. The company had a trading volume of 1,928,246 shares, compared to its average volume of 5,054,381. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. The firm has a market cap of $29.47 billion, a PE ratio of 27.01, a PEG ratio of 2.95 and a beta of 0.85. The firm's 50 day moving average price is $55.06 and its two-hundred day moving average price is $55.65. Tractor Supply has a 52-week low of $48.30 and a 52-week high of $61.53.

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 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%. Sell-side analysts predict 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 stock 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 reacquire up to 3.3% of its shares through open market purchases. Shares repurchase plans are typically 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. Shareholders of record on Wednesday, February 26th were given a $0.92 dividend. This is an increase from Tractor Supply's previous quarterly dividend of $0.22. This represents a $3.68 annualized dividend and a yield of 6.67%. The ex-dividend date was Wednesday, February 26th. Tractor Supply's payout ratio is currently 45.10%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on TSCO shares. Barclays reduced their price target on Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating for the company in a report on Monday, December 30th. JPMorgan Chase & Co. increased their target price on Tractor Supply from $58.00 to $59.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Truist Financial cut 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. Telsey Advisory Group reissued an "outperform" rating and set a $67.00 target price on shares of Tractor Supply in a research note on Thursday, January 30th. Finally, Mizuho boosted their price objective on Tractor Supply from $60.00 to $62.00 and gave the stock an "outperform" rating in a research note on Thursday, January 23rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $59.22.

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.