Nemes Rush Group LLC Purchases 21,150 Shares of Tractor Supply (NASDAQ:TSCO)

Nemes Rush Group LLC grew its position in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 528.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,149 shares of the specialty retailer's stock after acquiring an additional 21,150 shares during the quarter. Nemes Rush Group LLC's holdings in Tractor Supply were worth $1,334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. National Bank of Canada FI boosted its holdings in shares of Tractor Supply by 253.0% in the 4th quarter. National Bank of Canada FI now owns 174,379 shares of the specialty retailer's stock worth $9,255,000 after buying an additional 124,975 shares during the last quarter. HighPoint Advisor Group LLC boosted its stake in Tractor Supply by 483.7% in the 4th quarter. HighPoint Advisor Group LLC now owns 16,911 shares of the specialty retailer's stock worth $930,000 after purchasing an additional 14,014 shares during the period. Franklin Resources Inc. grew its stake in Tractor Supply by 412.3% during the fourth quarter. Franklin Resources Inc. now owns 2,326,961 shares of the specialty retailer's stock valued at $123,469,000 after acquiring an additional 1,872,786 shares in the last quarter. Family Legacy Inc. increased its holdings in shares of Tractor Supply by 478.7% in the fourth quarter. Family Legacy Inc. now owns 16,876 shares of the specialty retailer's stock worth $918,000 after purchasing an additional 13,960 shares during the period. Finally, B. Metzler seel. Sohn & Co. AG grew its position in Tractor Supply by 360.8% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 61,233 shares of the specialty retailer's stock worth $3,249,000 after buying an additional 47,945 shares in the last quarter. Institutional investors own 98.72% of the company's stock.

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Insider Buying and Selling

In other news, SVP Matthew L. Rubin sold 3,850 shares of the firm's stock in a transaction dated Thursday, February 20th. The shares were 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 $1,833,792.03. This trade represents a 10.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Melissa Kersey sold 9,300 shares of the firm's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $53.17, for a total value of $494,481.00. Following the completion of the transaction, the executive vice president now directly owns 34,961 shares in the company, valued at $1,858,876.37. The trade was a 21.01 % 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 in the last 90 days. Insiders own 0.24% of the company's stock.

Tractor Supply Trading Up 0.9 %

Shares of NASDAQ TSCO traded up $0.49 during midday trading on Wednesday, hitting $55.62. 3,242,451 shares of the company traded hands, compared to its average volume of 5,064,176. Tractor Supply has a 12-month low of $48.30 and a 12-month high of $61.53. The firm has a market cap of $29.70 billion, a P/E ratio of 27.26, a P/E/G ratio of 2.95 and a beta of 0.85. The stock has a 50-day moving average price of $54.98 and a 200 day moving average price of $55.64. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43.

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

Tractor Supply declared that its board has authorized a share repurchase plan 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 plans are often an indication that the company's board believes its shares are undervalued.

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were paid a $0.92 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $3.68 annualized dividend and a dividend yield of 6.62%. This is an increase from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's dividend payout ratio is presently 45.10%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Barclays cut their price objective 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. raised their price target on Tractor Supply from $58.00 to $59.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Bank of America upped their target price on Tractor Supply from $44.00 to $53.00 and gave the stock an "underperform" rating in a research note on Thursday, January 16th. Truist Financial reduced their target price on shares of Tractor Supply from $63.00 to $60.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Finally, Telsey Advisory Group restated an "outperform" rating and set a $67.00 price target on shares of Tractor Supply in a research report on Thursday, January 30th. Two 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. According to data from MarketBeat, Tractor Supply presently has a consensus rating of "Moderate Buy" and a consensus price target of $59.22.

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.