UniSuper Management Pty Ltd Raises Stock Position in Tractor Supply (NASDAQ:TSCO)

UniSuper Management Pty Ltd grew its stake in Tractor Supply (NASDAQ:TSCO - Free Report) by 549.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,871 shares of the specialty retailer's stock after purchasing an additional 44,728 shares during the period. UniSuper Management Pty Ltd's holdings in Tractor Supply were worth $2,805,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Tractor Supply by 392.5% during the fourth quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer's stock worth $3,397,643,000 after acquiring an additional 51,031,178 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Tractor Supply by 391.0% during the 4th quarter. JPMorgan Chase & Co. now owns 10,821,654 shares of the specialty retailer's stock worth $574,197,000 after purchasing an additional 8,617,869 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Tractor Supply during the 4th quarter valued at about $329,458,000. Meridiem Investment Management Ltd. lifted its position in shares of Tractor Supply by 398.9% during the fourth 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. Finally, Amundi grew its holdings in Tractor Supply by 495.2% during 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 in the last quarter. Hedge funds and other institutional investors own 98.72% of the company's stock.

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Tractor Supply Trading Down 1.4 %

NASDAQ TSCO traded down $0.79 on Thursday, reaching $54.83. The company had a trading volume of 1,783,562 shares, compared to its average volume of 5,051,524. The business has a 50 day moving average of $54.98 and a two-hundred day moving average of $55.64. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. The firm has a market cap of $29.28 billion, a price-to-earnings ratio of 26.88, a P/E/G ratio of 2.95 and a beta of 0.85. Tractor Supply has a fifty-two week low of $48.30 and a fifty-two week high of $61.53.

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

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

Tractor Supply Increases Dividend

The business 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. This is a positive change from Tractor Supply's previous quarterly dividend of $0.22. This represents a $3.68 dividend on an annualized basis and a yield of 6.71%. The ex-dividend date of this dividend was Wednesday, February 26th. Tractor Supply's payout ratio is currently 45.10%.

Insider Buying and Selling

In other Tractor Supply news, EVP Colin Yankee sold 24,602 shares of Tractor Supply stock in a transaction dated Tuesday, February 11th. The shares were 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 owns 33,645 shares of the company's stock, valued at approximately $1,821,876.75. The trade was a 42.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Harry A. Lawton III sold 88,095 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $54.59, for a total value of $4,809,106.05. Following the transaction, the chief executive officer now directly owns 488,852 shares in the company, valued at $26,686,430.68. This represents a 15.27 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 137,993 shares of company stock worth $7,538,068. 0.24% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

TSCO has been the topic of a number of research analyst reports. Bank of America increased their price objective on shares of Tractor Supply from $44.00 to $53.00 and gave the company an "underperform" rating in a research note on Thursday, January 16th. Mizuho lifted their price objective on shares of Tractor Supply from $60.00 to $62.00 and gave the company an "outperform" rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. raised their price target on Tractor Supply from $58.00 to $59.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Guggenheim reissued a "buy" rating and issued a $60.00 price objective on shares of Tractor Supply in a research note on Friday, January 31st. Finally, Telsey Advisory Group restated an "outperform" rating and set a $67.00 price objective on shares of Tractor Supply in a report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Tractor Supply presently 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.