Blueshift Asset Management LLC Grows Stake in Tractor Supply (NASDAQ:TSCO)

Blueshift Asset Management LLC lifted its position in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 571.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 66,815 shares of the specialty retailer's stock after buying an additional 56,870 shares during the quarter. Tractor Supply comprises 1.3% of Blueshift Asset Management LLC's holdings, making the stock its 5th biggest position. Blueshift Asset Management LLC's holdings in Tractor Supply were worth $3,545,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Tractor Supply by 383.7% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 113,586 shares of the specialty retailer's stock valued at $6,027,000 after buying an additional 90,104 shares during the period. Teacher Retirement System of Texas raised its holdings in Tractor Supply by 41.6% in the 4th quarter. Teacher Retirement System of Texas now owns 34,510 shares of the specialty retailer's stock valued at $1,831,000 after acquiring an additional 10,144 shares in the last quarter. Grey Fox Wealth Advisors LLC lifted its position in shares of Tractor Supply by 400.0% during the 4th quarter. Grey Fox Wealth Advisors LLC now owns 6,460 shares of the specialty retailer's stock valued at $343,000 after acquiring an additional 5,168 shares during the period. Sandy Spring Bank grew its holdings in shares of Tractor Supply by 547.7% during the 4th quarter. Sandy Spring Bank now owns 991 shares of the specialty retailer's stock worth $53,000 after purchasing an additional 838 shares in the last quarter. Finally, Royal London Asset Management Ltd. increased its position in shares of Tractor Supply by 438.1% in the fourth quarter. Royal London Asset Management Ltd. now owns 374,037 shares of the specialty retailer's stock worth $19,846,000 after purchasing an additional 304,528 shares during the period. Institutional investors own 98.72% of the company's stock.

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Tractor Supply Trading Up 2.0 %

Shares of NASDAQ:TSCO traded up $1.07 during mid-day trading on Monday, reaching $53.53. 3,391,244 shares of the company's stock were exchanged, compared to its average volume of 4,899,696. 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 has a twelve month low of $48.30 and a twelve month high of $61.53. The firm has a market capitalization of $28.59 billion, a price-to-earnings ratio of 26.24, a PEG ratio of 2.95 and a beta of 0.85. The business's fifty day moving average price is $55.01 and its 200-day moving average price is $55.68.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its earnings results 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, research analysts predict that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply announced that its board has authorized a stock repurchase plan 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 plans are generally a sign that the company's leadership believes its stock is undervalued.

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were issued a $0.92 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. This represents a $3.68 annualized dividend and a yield of 6.87%. Tractor Supply's dividend payout ratio is presently 45.10%.

Insider Buying and Selling at Tractor Supply

In related news, EVP Melissa Kersey sold 9,300 shares of the firm's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $53.17, for a total transaction of $494,481.00. Following the completion of the sale, the executive vice president now owns 34,961 shares of the company's stock, valued at $1,858,876.37. This trade represents a 21.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Matthew L. Rubin sold 3,850 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total value of $222,106.50. Following the completion of the transaction, the senior vice president now directly owns 31,787 shares in the company, valued at approximately $1,833,792.03. This trade represents a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 137,993 shares of company stock valued at $7,538,068. 0.24% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Telsey Advisory Group reiterated an "outperform" rating and set a $67.00 price objective on shares of Tractor Supply in a research note on Thursday, January 30th. Bank of America increased their price target 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. Loop Capital boosted their price objective on shares of Tractor Supply from $53.00 to $58.00 and gave the company a "hold" rating in a research report on Thursday, December 12th. Barclays reduced 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, Truist Financial lowered their price target on Tractor Supply from $63.00 to $60.00 and set a "buy" rating for the company 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 assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Tractor Supply currently has a consensus rating of "Moderate Buy" and a consensus price target of $59.22.

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.