US Bancorp DE Increases Stock Position in Tractor Supply (NASDAQ:TSCO)

US Bancorp DE lifted its holdings in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 385.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 164,239 shares of the specialty retailer's stock after acquiring an additional 130,437 shares during the period. US Bancorp DE's holdings in Tractor Supply were worth $8,715,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TSCO. PrairieView Partners LLC grew 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 worth $26,000 after acquiring an additional 400 shares during the last quarter. Future Financial Wealth Managment LLC grew its position 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 valued at $27,000 after buying an additional 400 shares during the last quarter. Archer Investment Corp grew 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 valued at $27,000 after buying an additional 400 shares during the last quarter. Kentucky Trust Co purchased a new position in Tractor Supply in the 4th quarter valued at $27,000. Finally, First Command Advisory Services Inc. grew its position in Tractor Supply by 400.0% in the 4th quarter. First Command Advisory Services Inc. now owns 500 shares of the specialty retailer's stock valued at $27,000 after buying an additional 400 shares during the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tractor Supply

In related news, CEO Harry A. Lawton III sold 88,095 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 488,852 shares of the company's stock, valued at approximately $26,686,430.68. The trade was a 15.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Melissa Kersey sold 9,300 shares of the company'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 transaction, the executive vice president now directly owns 34,961 shares of the company's stock, valued at approximately $1,858,876.37. This represents a 21.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 137,993 shares of company stock valued at $7,538,068. 0.24% of the stock is owned by insiders.

Tractor Supply Trading Down 0.3 %

NASDAQ:TSCO opened at $54.95 on Thursday. The company has a market capitalization of $29.34 billion, a PE ratio of 26.94, a price-to-earnings-growth ratio of 2.95 and a beta of 0.84. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. Tractor Supply has a 52-week low of $48.30 and a 52-week high of $61.53. The stock has a fifty day simple moving average of $55.08 and a 200-day simple moving average of $55.71.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its quarterly 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 return on equity of 49.01% and a net margin of 7.40%. On average, equities research analysts expect that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply declared that its board has approved a share buyback plan on Thursday, February 13th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the specialty retailer to reacquire up to 3.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board of directors believes its stock is undervalued.

Tractor Supply Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th will be paid a $0.92 dividend. This is an increase from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $3.68 annualized dividend and a yield of 6.70%. Tractor Supply's payout ratio is presently 45.10%.

Analyst Upgrades and Downgrades

TSCO has been the topic of a number of analyst reports. Telsey Advisory Group reiterated an "outperform" rating and issued a $67.00 price objective on shares of Tractor Supply in a research report on Thursday, January 30th. Evercore ISI upgraded shares of Tractor Supply from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 15th. 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. Guggenheim reiterated a "buy" rating and issued a $60.00 price objective on shares of Tractor Supply in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Tractor Supply from $58.00 to $59.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Two 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 stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average 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.

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