Peapack Gladstone Financial Corp Acquires 63,049 Shares of Tractor Supply (NASDAQ:TSCO)

Peapack Gladstone Financial Corp boosted its stake in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 408.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 78,475 shares of the specialty retailer's stock after purchasing an additional 63,049 shares during the period. Peapack Gladstone Financial Corp's holdings in Tractor Supply were worth $4,164,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TSCO. Janus Henderson Group PLC increased its position in Tractor Supply by 2.6% in the 3rd quarter. Janus Henderson Group PLC now owns 14,557 shares of the specialty retailer's stock worth $4,236,000 after purchasing an additional 363 shares during the last quarter. Integrated Wealth Concepts LLC increased its holdings in Tractor Supply by 12.1% in the third quarter. Integrated Wealth Concepts LLC now owns 3,284 shares of the specialty retailer's stock worth $955,000 after buying an additional 354 shares during the last quarter. National Bank of Canada FI raised its position in Tractor Supply by 31.3% during the third quarter. National Bank of Canada FI now owns 49,404 shares of the specialty retailer's stock valued at $14,373,000 after acquiring an additional 11,777 shares in the last quarter. XTX Topco Ltd bought a new position in Tractor Supply during the third quarter valued at approximately $220,000. Finally, MML Investors Services LLC lifted its stake in Tractor Supply by 30.4% in the third quarter. MML Investors Services LLC now owns 16,389 shares of the specialty retailer's stock valued at $4,768,000 after acquiring an additional 3,817 shares during the last quarter. Institutional investors and hedge funds own 98.72% of the company's stock.

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Insider Activity

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $57.69, for a total value of $222,106.50. Following the transaction, the senior vice president now directly owns 31,787 shares in the company, valued at $1,833,792.03. The trade was a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Harry A. Lawton III sold 88,095 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $54.59, for a total transaction of $4,809,106.05. Following the sale, the chief executive officer now directly owns 488,852 shares of the company's stock, valued at approximately $26,686,430.68. The trade was a 15.27 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 137,993 shares of company stock worth $7,538,068. Company insiders own 0.24% of the company's stock.

Wall Street Analysts Forecast Growth

TSCO has been the topic of a number of recent research reports. Stephens began coverage on shares of Tractor Supply in a report on Wednesday. They set an "equal weight" rating and a $56.00 price target on the stock. Guggenheim restated a "buy" rating and set a $60.00 target price on shares of Tractor Supply in a report on Friday, January 31st. Bank of America upped their price target 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 cut their price objective 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. Finally, Barclays decreased their target price 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. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $59.07.

Tractor Supply Stock Performance

Shares of TSCO traded up $0.35 on Friday, reaching $51.67. 4,341,698 shares of the stock traded hands, compared to its average volume of 5,129,270. The stock's 50-day moving average price is $54.07 and its 200-day moving average price is $55.35. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. The firm has a market cap of $27.47 billion, a price-to-earnings ratio of 25.33, a P/E/G ratio of 2.95 and a beta of 0.88. Tractor Supply has a 12 month low of $46.97 and a 12 month high of $61.53.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.28 by ($1.84). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. Equities analysts forecast that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply announced that its board has approved a share buyback program on Thursday, February 13th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to repurchase up to 3.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors 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 issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 7.12%. This is an increase from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. Tractor Supply's payout ratio is presently 45.10%.

Tractor Supply 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.