United Services Automobile Association Purchases New Shares in Tractor Supply (NASDAQ:TSCO)

United Services Automobile Association purchased a new position in shares of Tractor Supply (NASDAQ:TSCO - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 12,915 shares of the specialty retailer's stock, valued at approximately $685,000.

Several other hedge funds have also recently made changes to their positions in the business. BOK Financial Private Wealth Inc. lifted its holdings in shares of Tractor Supply by 330.2% in the 4th quarter. BOK Financial Private Wealth Inc. now owns 21,355 shares of the specialty retailer's stock worth $1,133,000 after purchasing an additional 16,391 shares in the last quarter. Blueshift Asset Management LLC grew its holdings in shares of Tractor Supply by 32.7% during the third quarter. Blueshift Asset Management LLC now owns 9,945 shares of the specialty retailer's stock valued at $2,893,000 after buying an additional 2,452 shares during the last quarter. Callan Family Office LLC bought a new stake in shares of Tractor Supply during the fourth quarter worth about $503,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Tractor Supply by 379.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 890,898 shares of the specialty retailer's stock worth $47,271,000 after acquiring an additional 704,896 shares during the last quarter. Finally, Citizens Financial Group Inc. RI lifted its position in Tractor Supply by 368.7% in the 4th quarter. Citizens Financial Group Inc. RI now owns 7,485 shares of the specialty retailer's stock valued at $397,000 after acquiring an additional 5,888 shares in the last quarter. 98.72% of the stock is owned by institutional investors.

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Tractor Supply Price Performance

Shares of TSCO traded down $0.69 during mid-day trading on Friday, reaching $53.47. 3,599,669 shares of the stock traded hands, compared to its average volume of 5,054,910. The company has a market cap of $28.55 billion, a price-to-earnings ratio of 26.21, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. Tractor Supply has a 1 year low of $48.30 and a 1 year high of $61.53. The firm has a fifty day moving average price of $55.03 and a 200 day moving average price of $55.65. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82.

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 net margin of 7.40% and a return on equity of 49.01%. As a group, equities research analysts predict that Tractor Supply will post 2.17 earnings per share for the current year.

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

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 6.88%. The ex-dividend date was Wednesday, February 26th. This is a positive change from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's payout ratio is 45.10%.

Insider Activity at Tractor Supply

In other Tractor Supply news, CEO Harry A. Lawton III sold 88,095 shares of the firm'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 sale, the chief executive officer now owns 488,852 shares of the company's stock, valued at $26,686,430.68. This trade represents a 15.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kurt D. Barton sold 12,146 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $56.00, for a total transaction of $680,176.00. Following the transaction, the chief financial officer now directly owns 47,715 shares of the company's stock, valued at approximately $2,672,040. This trade represents a 20.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,993 shares of company stock worth $7,538,068 in the last ninety days. 0.58% of the stock is owned by company insiders.

Analyst Ratings Changes

TSCO has been the subject of a number of recent research reports. Guggenheim reissued a "buy" rating and set a $60.00 price objective on shares of Tractor Supply in a report on Friday, January 31st. Telsey Advisory Group reissued an "outperform" rating and issued a $67.00 price target on shares of Tractor Supply in a research report on Thursday, January 30th. Loop Capital boosted their price target on shares of Tractor Supply from $53.00 to $58.00 and gave the stock a "hold" rating in a report on Thursday, December 12th. Barclays decreased their price objective on shares of Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating for the company in a research note on Monday, December 30th. Finally, JPMorgan Chase & Co. boosted their target price on Tractor Supply from $58.00 to $59.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Tractor Supply has a consensus rating of "Moderate Buy" and an average price target of $59.22.

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.