Prudential PLC Boosts Holdings in Tractor Supply (NASDAQ:TSCO)

Prudential PLC grew its stake in Tractor Supply (NASDAQ:TSCO - Free Report) by 360.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 243,151 shares of the specialty retailer's stock after acquiring an additional 190,396 shares during the quarter. Prudential PLC's holdings in Tractor Supply were worth $12,902,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of TSCO. Smithfield Trust Co boosted its stake in Tractor Supply by 286.2% during the 4th quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock valued at $25,000 after purchasing an additional 352 shares during the last quarter. PrairieView Partners LLC boosted its position in shares of Tractor Supply by 400.0% during the fourth quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer's stock valued at $26,000 after buying an additional 400 shares during the last quarter. Future Financial Wealth Managment LLC increased its holdings in Tractor Supply by 400.0% in the 4th quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer's stock worth $27,000 after buying an additional 400 shares in the last quarter. Archer Investment Corp raised its position in Tractor Supply by 400.0% in the 4th quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock worth $27,000 after buying an additional 400 shares during the last quarter. Finally, Kentucky Trust Co bought a new position in Tractor Supply during the 4th quarter valued at about $27,000. 98.72% of the stock is owned by hedge funds and other institutional investors.

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Tractor Supply Price Performance

Shares of Tractor Supply stock traded down $3.05 on Monday, hitting $49.35. 9,293,216 shares of the company traded hands, compared to its average volume of 5,098,741. Tractor Supply has a 52 week low of $48.30 and a 52 week high of $61.53. The business has a 50-day simple moving average of $54.67 and a 200 day simple moving average of $55.58. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. The stock has a market capitalization of $26.24 billion, a P/E ratio of 24.19, a price-to-earnings-growth ratio of 2.95 and a beta of 0.88.

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

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 7.46%. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, February 26th. Tractor Supply's dividend payout ratio is 45.10%.

Tractor Supply declared that its Board of Directors has initiated a stock 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.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Loop Capital lifted their price target on shares of Tractor Supply from $53.00 to $58.00 and gave the stock a "hold" rating in a research note on Thursday, December 12th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $67.00 target price on shares of Tractor Supply in a research report on Thursday, January 30th. Mizuho increased their price target on Tractor Supply from $60.00 to $62.00 and gave the company an "outperform" rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. lifted their price objective on Tractor Supply from $58.00 to $59.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Finally, Bank of America increased their target price on Tractor Supply from $44.00 to $53.00 and gave the company an "underperform" rating in a report on Thursday, January 16th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $59.22.

Insider Activity

In related news, SVP Matthew L. Rubin sold 3,850 shares of the 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 completion of the transaction, the senior vice president now owns 31,787 shares of the company's stock, valued at approximately $1,833,792.03. This trade represents a 10.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kurt D. Barton sold 12,146 shares of Tractor Supply stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $56.00, for a total value of $680,176.00. Following the completion of the transaction, the chief financial officer now owns 47,715 shares of the company's stock, valued at approximately $2,672,040. This trade represents a 20.29 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 137,993 shares of company stock worth $7,538,068. 0.24% of the stock is currently owned by insiders.

Tractor Supply Company 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.