Saturna Capital Corp Has $618,000 Stock Position in Tractor Supply (NASDAQ:TSCO)

Saturna Capital Corp increased its position in Tractor Supply (NASDAQ:TSCO - Free Report) by 400.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,650 shares of the specialty retailer's stock after buying an additional 9,320 shares during the period. Saturna Capital Corp's holdings in Tractor Supply were worth $618,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in shares of Tractor Supply during the fourth quarter valued at approximately $329,458,000. Meridiem Investment Management Ltd. lifted its holdings in shares of Tractor Supply by 398.9% in the 4th quarter. Meridiem Investment Management Ltd. now owns 5,118,785 shares of the specialty retailer's stock worth $271,674,000 after purchasing an additional 4,092,808 shares in the last quarter. Amundi grew its position in Tractor Supply by 495.2% in the 4th quarter. Amundi now owns 4,145,992 shares of the specialty retailer's stock valued at $225,501,000 after purchasing an additional 3,449,442 shares during the period. Bank of New York Mellon Corp increased its stake in Tractor Supply by 403.3% during the 4th quarter. Bank of New York Mellon Corp now owns 3,912,752 shares of the specialty retailer's stock valued at $207,611,000 after purchasing an additional 3,135,384 shares in the last quarter. Finally, Alecta Tjanstepension Omsesidigt raised its holdings in Tractor Supply by 400.0% during the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 3,750,000 shares of the specialty retailer's stock worth $199,012,000 after buying an additional 3,000,000 shares during the last quarter. 98.72% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of the business's stock in a transaction 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 sale, the senior vice president now owns 31,787 shares of the company's stock, valued at $1,833,792.03. The trade was 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 on 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 of the company's stock, 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 sold 137,993 shares of company stock worth $7,538,068 over the last quarter. 0.24% of the stock is currently owned by company insiders.

Tractor Supply Trading Down 5.8 %

Shares of TSCO stock opened at $53.92 on Wednesday. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. The firm has a market cap of $28.79 billion, a P/E ratio of 26.43, a PEG ratio of 2.95 and a beta of 0.85. The company has a 50 day moving average of $55.22 and a 200-day moving average of $55.79. Tractor Supply has a 12-month low of $48.30 and a 12-month high of $61.53.

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Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its earnings results 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 return on equity of 49.01% and a net margin of 7.40%. Sell-side analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply declared that its Board of Directors has approved a stock repurchase program on Thursday, February 13th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the specialty retailer to buy up to 3.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

Tractor Supply Increases Dividend

The firm 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. The ex-dividend date of this dividend 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 6.82%. Tractor Supply's dividend payout ratio is 45.10%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TSCO. Truist Financial reduced their price objective on shares of Tractor Supply from $63.00 to $60.00 and set a "buy" rating for the company in a report on Friday, January 31st. Loop Capital lifted their price target on Tractor Supply from $53.00 to $58.00 and gave the company a "hold" rating in a research note on Thursday, December 12th. Evercore ISI raised Tractor Supply from a "hold" rating to a "strong-buy" rating in a research note on Friday, November 15th. Barclays dropped their target price on Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating on the stock in a report on Monday, December 30th. Finally, Guggenheim reiterated a "buy" rating and set a $60.00 price target on shares of Tractor Supply in a report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $59.22.

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.

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