Mizuho Securities USA LLC Boosts Holdings in Tractor Supply (NASDAQ:TSCO)

Mizuho Securities USA LLC boosted its position in Tractor Supply (NASDAQ:TSCO - Free Report) by 623.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 50,632 shares of the specialty retailer's stock after purchasing an additional 43,637 shares during the quarter. Mizuho Securities USA LLC's holdings in Tractor Supply were worth $2,687,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Raymond James Financial Inc. bought a new position in Tractor Supply in the fourth quarter valued at about $329,458,000. Meridiem Investment Management Ltd. lifted its stake in shares of Tractor Supply by 398.9% in 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 purchasing an additional 4,092,808 shares during the last quarter. Wellington Management Group LLP increased its position in Tractor Supply by 3.5% during the third quarter. Wellington Management Group LLP now owns 4,740,864 shares of the specialty retailer's stock valued at $1,379,260,000 after acquiring an additional 161,503 shares during the last quarter. State Street Corp boosted its position in shares of Tractor Supply by 1.1% during the third quarter. State Street Corp now owns 4,518,341 shares of the specialty retailer's stock valued at $1,314,521,000 after buying an additional 47,951 shares during the period. Finally, Amundi increased its stake in 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 purchasing an additional 3,449,442 shares during the period. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Transactions at Tractor Supply

In related news, SVP Matthew L. Rubin sold 3,850 shares of the business'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 in the company, valued at $1,833,792.03. The trade was a 10.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Melissa Kersey sold 9,300 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $53.17, for a total value of $494,481.00. Following the completion of the sale, the executive vice president now directly owns 34,961 shares of the company's stock, valued at approximately $1,858,876.37. The trade was a 21.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 137,993 shares of company stock worth $7,538,068 over the last quarter. Company insiders own 0.58% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on TSCO shares. Telsey Advisory Group reiterated an "outperform" rating and set a $67.00 target price on shares of Tractor Supply in a report on Thursday, January 30th. 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. JPMorgan Chase & Co. boosted their price target on Tractor Supply from $58.00 to $59.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Barclays lowered their price target 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. Finally, Guggenheim reaffirmed a "buy" rating and issued a $60.00 price target on shares of Tractor Supply in a research note on Friday, January 31st. Two 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. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $59.22.

Tractor Supply Price Performance

NASDAQ:TSCO traded down $0.69 during trading hours on Friday, reaching $53.47. The company had a trading volume of 3,599,669 shares, compared to its average volume of 5,054,910. The firm has a market capitalization of $28.55 billion, a PE ratio of 26.21, a PEG ratio of 2.95 and a beta of 0.85. The stock has a 50-day moving average of $55.03 and a two-hundred day moving average of $55.65. 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 has a one year low of $48.30 and a one year high of $61.53.

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

Tractor Supply declared that its board has initiated a stock repurchase plan on Thursday, February 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the specialty retailer to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Tractor Supply Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were paid a dividend of $0.92 per share. This is an increase from Tractor Supply's previous quarterly dividend of $0.22. This represents a $3.68 annualized dividend and a dividend yield of 6.88%. The ex-dividend date was Wednesday, February 26th. Tractor Supply's payout ratio is currently 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.