Vestcor Inc Grows Stock Holdings in Tractor Supply (NASDAQ:TSCO)

Vestcor Inc raised its position in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 399.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,803 shares of the specialty retailer's stock after acquiring an additional 8,640 shares during the quarter. Vestcor Inc's holdings in Tractor Supply were worth $573,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Smithfield Trust Co boosted its position in shares of Tractor Supply by 286.2% during the 4th quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock worth $25,000 after purchasing an additional 352 shares in the last quarter. PrairieView Partners LLC boosted its position in shares of Tractor Supply by 400.0% during the 4th quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer's stock worth $26,000 after purchasing an additional 400 shares in the last quarter. Future Financial Wealth Managment LLC boosted its position in shares of Tractor Supply by 400.0% during the 4th quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 400 shares in the last quarter. Archer Investment Corp boosted its position in shares of Tractor Supply by 400.0% during the 4th quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 400 shares in the last quarter. Finally, Kentucky Trust Co bought a new position in shares of Tractor Supply during the 4th quarter worth about $27,000. Institutional investors own 98.72% of the company's stock.

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Insider Buying and Selling

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 owns 31,787 shares in the company, valued at approximately $1,833,792.03. The trade was a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Melissa Kersey sold 9,300 shares of the business's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $53.17, for a total transaction of $494,481.00. Following the completion of the transaction, the executive vice president now owns 34,961 shares in the company, valued at $1,858,876.37. The trade was a 21.01 % decrease in their position. 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 in the last 90 days. 0.24% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Telsey Advisory Group reissued an "outperform" rating and set a $67.00 price objective on shares of Tractor Supply in a research report on Thursday, January 30th. JPMorgan Chase & Co. raised their price target on shares of Tractor Supply from $58.00 to $59.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Truist Financial dropped their price target on shares of Tractor Supply from $63.00 to $60.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Loop Capital raised their price target 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. Finally, Bank of America raised their price target on shares of 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 issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $59.22.

Tractor Supply Price Performance

Shares of NASDAQ TSCO traded down $0.96 during mid-day trading on Thursday, reaching $51.84. 3,083,904 shares of the company were exchanged, compared to its average volume of 4,908,744. Tractor Supply has a 52 week low of $48.30 and a 52 week high of $61.53. 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 stock has a market capitalization of $27.68 billion, a PE ratio of 25.41, a PEG ratio of 2.95 and a beta of 0.85. The company's 50 day moving average price is $55.12 and its 200 day moving average price is $55.70.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its earnings results on Thursday, January 30th. The specialty retailer reported $0.44 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 forecast that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply declared that its board has initiated a share repurchase plan on Thursday, February 13th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the specialty retailer to buy up to 3.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Tractor Supply Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 7.10%. 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. Tractor Supply's dividend payout ratio (DPR) 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.