Treasurer of the State of North Carolina Buys 190,048 Shares of Tractor Supply (NASDAQ:TSCO)

Treasurer of the State of North Carolina boosted its stake in shares of Tractor Supply (NASDAQ:TSCO) by 403.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 237,185 shares of the specialty retailer’s stock after buying an additional 190,048 shares during the period. Treasurer of the State of North Carolina’s holdings in Tractor Supply were worth $12,585,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. CIBC Private Wealth Group LLC lifted its holdings in shares of Tractor Supply by 385.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,089,542 shares of the specialty retailer’s stock worth $59,260,000 after acquiring an additional 865,273 shares during the last quarter. BOK Financial Private Wealth Inc. raised its position in 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 during the period. Blueshift Asset Management LLC lifted its stake in Tractor Supply by 571.8% in the fourth quarter. Blueshift Asset Management LLC now owns 66,815 shares of the specialty retailer’s stock worth $3,545,000 after purchasing an additional 56,870 shares during the last quarter. Callan Family Office LLC purchased a new position in shares of Tractor Supply during the fourth quarter valued at approximately $503,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Tractor Supply by 379.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 890,898 shares of the specialty retailer’s stock valued at $47,271,000 after buying an additional 704,896 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on TSCO shares. Mizuho raised their price target on Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Barclays lowered their target price 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. Guggenheim reaffirmed a “buy” rating and issued a $60.00 price target on shares of Tractor Supply in a research note on Friday, January 31st. Stephens started coverage on shares of Tractor Supply in a research report on Wednesday. They issued an “equal weight” rating and a $56.00 price objective for the company. Finally, Truist Financial reduced their target price 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. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.07.

Insider Activity at Tractor Supply

In related news, CEO Harry A. Lawton III sold 88,095 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was 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 in the company, 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 SEC, which is available at this link. 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 value of $494,481.00. Following the sale, the executive vice president now owns 34,961 shares in the company, valued at approximately $1,858,876.37. The trade was a 21.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 137,993 shares of company stock valued at $7,538,068 in the last three months. 0.24% of the stock is owned by insiders.

Tractor Supply Price Performance

Shares of TSCO opened at $51.67 on Friday. The company has a 50 day moving average of $54.07 and a two-hundred day moving average of $55.36. 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 twelve month low of $46.97 and a twelve month high of $61.53. The company has a market cap of $27.47 billion, a price-to-earnings ratio of 25.33, a price-to-earnings-growth ratio of 2.95 and a beta of 0.88.

Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share 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%. As a group, analysts predict that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The business 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. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 annualized dividend and a dividend yield of 7.12%. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio is 45.10%.

Tractor Supply announced that its board has approved a stock repurchase plan on Thursday, February 13th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the specialty retailer to purchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

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.