Optimum Investment Advisors lifted its stake in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 400.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,650 shares of the specialty retailer's stock after purchasing an additional 6,920 shares during the quarter. Optimum Investment Advisors' holdings in Tractor Supply were worth $459,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. KLP Kapitalforvaltning AS purchased a new position in Tractor Supply in the 4th quarter valued at approximately $9,570,000. AXQ Capital LP acquired a new stake in Tractor Supply in the fourth quarter valued at $663,000. Sei Investments Co. increased its position in shares of Tractor Supply by 587.4% in the fourth quarter. Sei Investments Co. now owns 312,630 shares of the specialty retailer's stock valued at $16,588,000 after buying an additional 267,147 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Tractor Supply by 633.2% during the 4th quarter. American Century Companies Inc. now owns 2,715,001 shares of the specialty retailer's stock worth $144,058,000 after buying an additional 2,344,729 shares during the last quarter. Finally, Mizuho Securities USA LLC boosted its position in shares of Tractor Supply by 623.8% in the 4th quarter. Mizuho Securities USA LLC now owns 50,632 shares of the specialty retailer's stock worth $2,687,000 after buying an additional 43,637 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company's stock.
Tractor Supply Trading Up 0.5 %
Shares of NASDAQ:TSCO traded up $0.29 during trading on Thursday, reaching $54.16. 4,651,444 shares of the stock were exchanged, compared to its average volume of 4,895,340. Tractor Supply has a 12-month low of $48.30 and a 12-month high of $61.53. The firm's 50-day moving average price is $55.03 and its 200 day moving average price is $55.65. 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 $28.92 billion, a price-to-earnings ratio of 26.55, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85.
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 (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%. On average, sell-side analysts anticipate 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 share 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 reacquire up to 3.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its shares are undervalued.
Tractor Supply Increases Dividend
The business also recently disclosed 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. This represents a $3.68 dividend on an annualized basis and a dividend yield of 6.79%. The ex-dividend date was Wednesday, February 26th. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's payout ratio is currently 45.10%.
Insider Transactions at Tractor Supply
In other news, CEO Harry A. Lawton III sold 88,095 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $54.59, for a total value of $4,809,106.05. Following the completion of the transaction, the chief executive officer now directly owns 488,852 shares in the company, valued at approximately $26,686,430.68. This represents a 15.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply 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 directly owns 31,787 shares in the company, valued at $1,833,792.03. This trade represents a 10.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 137,993 shares of company stock valued at $7,538,068 over the last quarter. Company insiders own 0.58% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have issued reports on TSCO shares. Mizuho lifted their target price on shares of Tractor Supply from $60.00 to $62.00 and gave the stock an "outperform" rating in a research report on Thursday, January 23rd. Guggenheim restated a "buy" rating and set a $60.00 price objective on shares of Tractor Supply in a research report on Friday, January 31st. Truist Financial reduced their target price on Tractor Supply from $63.00 to $60.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Barclays dropped their price target on Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating for the company in a research report on Monday, December 30th. Finally, Bank of America upped their price objective on Tractor Supply from $44.00 to $53.00 and gave the company 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 assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Tractor Supply has an average rating of "Moderate Buy" and an average target price of $59.22.
Read Our Latest Stock Report on TSCO
About Tractor Supply
(
Free Report)
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.
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