Securian Asset Management Inc. Acquires 22,797 Shares of Tractor Supply (NASDAQ:TSCO)

Securian Asset Management Inc. grew its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 384.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,729 shares of the specialty retailer’s stock after purchasing an additional 22,797 shares during the quarter. Securian Asset Management Inc.’s holdings in Tractor Supply were worth $1,524,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TSCO. Smithfield Trust Co boosted its position in shares of Tractor Supply by 286.2% in the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 352 shares during the period. PrairieView Partners LLC boosted its position in shares of Tractor Supply by 400.0% in 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 period. Future Financial Wealth Managment LLC boosted 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 during the period. Archer Investment Corp boosted its position 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 valued at $27,000 after acquiring an additional 400 shares during the period. Finally, Kentucky Trust Co bought a new position in shares of Tractor Supply in the fourth quarter valued at approximately $27,000. Institutional investors own 98.72% of the company’s stock.

Insider Activity at Tractor Supply

In other news, CEO Harry A. Lawton III sold 88,095 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $54.59, for a total transaction of $4,809,106.05. Following the sale, the chief executive officer now owns 488,852 shares in the company, valued at approximately $26,686,430.68. The trade was a 15.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Melissa Kersey sold 9,300 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $1,858,876.37. This trade represents a 21.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 137,993 shares of company stock worth $7,538,068 over the last quarter. Corporate insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TSCO shares. Evercore ISI upgraded shares of Tractor Supply from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 15th. Guggenheim reaffirmed a “buy” rating and issued a $60.00 target price on shares of Tractor Supply in a research note on Friday, January 31st. Bank of America raised their target price 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 raised their target price on shares of Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $67.00 target price on shares of Tractor Supply in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Tractor Supply has an average rating of “Moderate Buy” and an average price target of $59.22.

Tractor Supply Stock Down 1.3 %

Shares of Tractor Supply stock opened at $51.66 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. Tractor Supply has a 52-week low of $48.30 and a 52-week high of $61.53. The stock has a market capitalization of $27.59 billion, a price-to-earnings ratio of 25.32, a P/E/G ratio of 2.95 and a beta of 0.85. The company’s 50 day moving average price is $55.21 and its 200-day moving average price is $55.77.

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

Tractor Supply announced that its Board of Directors has approved a share buyback plan on Thursday, February 13th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to reacquire up to 3.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were issued a $0.92 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 annualized dividend and a yield of 7.12%. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s payout ratio is 45.10%.

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.