Natixis Advisors LLC Acquires 457,896 Shares of Tractor Supply (NASDAQ:TSCO)

Natixis Advisors LLC grew its holdings in Tractor Supply (NASDAQ:TSCO - Free Report) by 660.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 527,271 shares of the specialty retailer's stock after acquiring an additional 457,896 shares during the quarter. Natixis Advisors LLC owned 0.10% of Tractor Supply worth $27,977,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Providence Capital Advisors LLC acquired a new stake in Tractor Supply in the 3rd quarter worth about $32,000. Assetmark Inc. increased its holdings in shares of Tractor Supply by 2,383.3% during the third quarter. Assetmark Inc. now owns 149 shares of the specialty retailer's stock worth $43,000 after purchasing an additional 143 shares during the period. Larson Financial Group LLC raised its position in shares of Tractor Supply by 29.4% in the third quarter. Larson Financial Group LLC now owns 286 shares of the specialty retailer's stock valued at $83,000 after buying an additional 65 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Tractor Supply by 13.2% in the third quarter. First Horizon Advisors Inc. now owns 351 shares of the specialty retailer's stock valued at $102,000 after buying an additional 41 shares during the period. Finally, Icon Wealth Advisors LLC acquired a new stake in Tractor Supply during the third quarter worth approximately $111,000. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on TSCO shares. Guggenheim reaffirmed a "buy" rating and issued a $60.00 price objective on shares of Tractor Supply in a report on Friday, January 31st. Truist Financial dropped their price target on Tractor Supply from $63.00 to $60.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Loop Capital increased their price objective on shares of Tractor Supply from $53.00 to $58.00 and gave the stock a "hold" rating in a research note on Thursday, December 12th. Mizuho boosted 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, Bank of America upped their price target on shares of Tractor Supply from $44.00 to $53.00 and gave the stock an "underperform" rating in a report on Thursday, January 16th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Tractor Supply has a consensus rating of "Moderate Buy" and an average price target of $59.22.

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Tractor Supply Trading Up 1.2 %

NASDAQ:TSCO traded up $0.62 during mid-day trading on Friday, hitting $52.46. 6,332,533 shares of the company's stock were exchanged, compared to its average volume of 4,915,676. Tractor Supply has a fifty-two week low of $48.30 and a fifty-two week high of $61.53. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $28.01 billion, a P/E ratio of 25.72, a PEG ratio of 2.95 and a beta of 0.85. The company has a 50 day simple moving average of $55.07 and a 200-day simple moving average of $55.67.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued 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%. As a group, research analysts expect that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were issued a dividend of $0.92 per share. The ex-dividend date was Wednesday, February 26th. 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 7.01%. Tractor Supply's payout ratio is presently 45.10%.

Tractor Supply declared that its board has initiated a stock repurchase 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 buy up to 3.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total transaction of $222,106.50. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Melissa Kersey sold 9,300 shares of the business's stock in a transaction that occurred on 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 $1,858,876.37. This trade represents a 21.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 137,993 shares of company stock worth $7,538,068. Insiders own 0.24% of the company's stock.

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.