Norinchukin Bank The Raises Stock Position in Tractor Supply (NASDAQ:TSCO)

Norinchukin Bank The boosted its stake in shares of Tractor Supply (NASDAQ:TSCO) by 385.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 495,652 shares of the specialty retailer’s stock after acquiring an additional 393,509 shares during the period. Norinchukin Bank The owned about 0.09% of Tractor Supply worth $26,299,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TSCO. Smithfield Trust Co lifted its stake in Tractor Supply by 286.2% in the 4th quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 352 shares in the last quarter. PrairieView Partners LLC raised its holdings 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 acquiring an additional 400 shares during the last quarter. Future Financial Wealth Managment LLC lifted its position in shares of Tractor Supply by 400.0% in the fourth quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 400 shares in the last quarter. Archer Investment Corp boosted its stake in shares of Tractor Supply by 400.0% in the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 400 shares during the last quarter. Finally, Kentucky Trust Co purchased a new stake in shares of Tractor Supply during the fourth quarter worth approximately $27,000. 98.72% of the stock is owned by hedge funds and other institutional investors.

Tractor Supply Price Performance

Shares of TSCO opened at $50.11 on Friday. The firm has a 50-day simple moving average of $53.74 and a two-hundred day simple moving average of $55.13. The stock has a market cap of $26.64 billion, a PE ratio of 24.56, a P/E/G ratio of 2.95 and a beta of 0.88. Tractor Supply has a 1-year low of $46.97 and a 1-year high of $61.53. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20.

Tractor Supply (NASDAQ:TSCO) last posted 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 net margin of 7.40% and a return on equity of 49.01%. As a group, analysts forecast that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply declared that its Board of Directors has approved a share buyback program on Thursday, February 13th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the specialty retailer to purchase up to 3.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Tractor Supply Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were paid a dividend of $0.92 per share. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 annualized dividend and a yield of 7.34%. Tractor Supply’s dividend payout ratio is presently 45.10%.

Insider Activity at Tractor Supply

In other news, EVP Melissa Kersey sold 9,300 shares of the 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 sale, the executive vice president now owns 34,961 shares of the company’s stock, valued at approximately $1,858,876.37. This represents a 21.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total transaction 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 $1,833,792.03. This trade represents a 10.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 137,993 shares of company stock worth $7,538,068 in the last three months. 0.24% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Telsey Advisory Group restated an “outperform” rating and issued a $67.00 price objective on shares of Tractor Supply in a report on Thursday. Guggenheim restated a “buy” rating and set a $60.00 price target on shares of Tractor Supply in a research report on Friday, January 31st. Barclays cut 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 report on Monday, December 30th. Truist Financial lowered their target price on Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. increased 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. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $59.07.

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.