Nomura Asset Management Co. Ltd. Purchases 613,518 Shares of Tractor Supply (NASDAQ:TSCO)

Nomura Asset Management Co. Ltd. raised its position in Tractor Supply (NASDAQ:TSCO - Free Report) by 362.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 782,788 shares of the specialty retailer's stock after acquiring an additional 613,518 shares during the period. Nomura Asset Management Co. Ltd. owned approximately 0.15% of Tractor Supply worth $41,535,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of TSCO. Larson Financial Group LLC grew its position in Tractor Supply by 29.4% in the 3rd quarter. Larson Financial Group LLC now owns 286 shares of the specialty retailer's stock valued at $83,000 after purchasing an additional 65 shares during the period. Icon Wealth Advisors LLC acquired a new position in shares of Tractor Supply during the third quarter valued at about $111,000. Glen Eagle Advisors LLC increased its position in shares of Tractor Supply by 75.8% during the third quarter. Glen Eagle Advisors LLC now owns 464 shares of the specialty retailer's stock worth $135,000 after acquiring an additional 200 shares in the last quarter. Smithfield Trust Co increased its position in shares of 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. Finally, Future Financial Wealth Managment LLC raised its holdings in shares of Tractor Supply by 400.0% in the 4th 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 last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

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Insider Transactions at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $57.69, for a total value 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 $1,833,792.03. This represents a 10.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Melissa Kersey sold 9,300 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $53.17, for a total transaction of $494,481.00. Following the transaction, the executive vice president now 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. In the last three months, insiders sold 137,993 shares of company stock worth $7,538,068. 0.24% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

TSCO has been the subject of a number of recent research reports. Loop Capital boosted their price objective on Tractor Supply from $53.00 to $58.00 and gave the stock a "hold" rating in a report on Thursday, December 12th. Guggenheim reissued a "buy" rating and issued a $60.00 price target on shares of Tractor Supply in a research report on Friday, January 31st. Mizuho upped their target price on shares of Tractor Supply from $60.00 to $62.00 and gave the stock an "outperform" rating in a research note on Thursday, January 23rd. Barclays dropped their price target on shares of 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, Bank of America upped their price objective on shares of Tractor Supply from $44.00 to $53.00 and gave the stock an "underperform" rating in a research report on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $59.22.

Tractor Supply Price Performance

Shares of TSCO stock traded up $1.63 during trading on Monday, hitting $55.10. The company had a trading volume of 7,950,194 shares, compared to its average volume of 5,066,444. The stock's 50-day moving average is $55.03 and its two-hundred day moving average is $55.66. The stock has a market capitalization of $29.42 billion, a price-to-earnings ratio of 27.01, a price-to-earnings-growth 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 has a 52 week low of $48.30 and a 52 week high of $61.53.

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, analysts predict that Tractor Supply will post 2.17 EPS for the current fiscal year.

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

Tractor Supply Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were paid a dividend of $0.92 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $3.68 annualized dividend and a yield of 6.68%. This is a positive change from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's payout ratio is 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.