DnB Asset Management AS Grows Position in Tractor Supply (NASDAQ:TSCO)

DnB Asset Management AS raised its stake in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 414.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 93,310 shares of the specialty retailer's stock after purchasing an additional 75,186 shares during the period. DnB Asset Management AS's holdings in Tractor Supply were worth $4,951,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of TSCO. Icon Wealth Advisors LLC purchased a new stake in Tractor Supply in the 3rd quarter worth approximately $111,000. Glen Eagle Advisors LLC boosted its holdings in Tractor Supply by 75.8% in the 3rd quarter. Glen Eagle Advisors LLC now owns 464 shares of the specialty retailer's stock worth $135,000 after buying an additional 200 shares during the period. Smithfield Trust Co increased its stake in Tractor Supply by 286.2% in the 4th quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock worth $25,000 after buying an additional 352 shares in the last quarter. Future Financial Wealth Managment LLC raised its holdings in Tractor Supply by 400.0% during the fourth quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer's stock valued at $27,000 after acquiring an additional 400 shares during the period. Finally, Archer Investment Corp raised its holdings in Tractor Supply by 400.0% during the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock valued at $27,000 after acquiring an additional 400 shares during the period. Hedge funds and other institutional investors own 98.72% of the company's stock.

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Analyst Ratings Changes

A number of equities research analysts have issued reports on TSCO shares. Truist Financial cut 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. Bank of America lifted their price target on shares of Tractor Supply from $44.00 to $53.00 and gave the company an "underperform" rating in a report on Thursday, January 16th. Barclays reduced their price objective on Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Monday, December 30th. Loop Capital increased their target price on Tractor Supply from $53.00 to $58.00 and gave the company a "hold" rating in a research report on Thursday, December 12th. Finally, Mizuho boosted their price target 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. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $59.22.

Insider Activity

In other news, SVP Matthew L. Rubin sold 3,850 shares of the stock in a transaction 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 sale, the senior vice president now owns 31,787 shares in the company, valued at $1,833,792.03. This represents a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Colin Yankee sold 24,602 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $54.15, for a total value of $1,332,198.30. Following the sale, the executive vice president now directly owns 33,645 shares in the company, valued at $1,821,876.75. This represents a 42.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 137,993 shares of company stock worth $7,538,068 over the last 90 days. 0.24% of the stock is currently owned by corporate insiders.

Tractor Supply Stock Up 0.1 %

NASDAQ TSCO traded up $0.03 on Tuesday, reaching $55.13. 4,991,376 shares of the stock traded hands, compared to its average volume of 5,068,527. Tractor Supply has a 12 month low of $48.30 and a 12 month high of $61.53. The company has a market cap of $29.44 billion, a price-to-earnings ratio of 27.02, a PEG ratio of 2.95 and a beta of 0.85. The company has a fifty day moving average price of $55.02 and a 200-day moving average price of $55.64. 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 (NASDAQ:TSCO - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share for the quarter, missing the consensus estimate of $2.28 by ($1.84). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. As a group, research analysts forecast that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were given 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 dividend on an annualized basis and a dividend yield of 6.68%. Tractor Supply's dividend payout ratio is presently 45.10%.

Tractor Supply declared that its Board of Directors has authorized a share buyback plan on Thursday, February 13th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the specialty retailer to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its stock is undervalued.

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.