Tractor Supply (NASDAQ:TSCO) Shares Purchased by Vestcor Inc

Vestcor Inc increased its stake in shares of Tractor Supply (NASDAQ:TSCO) by 399.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,803 shares of the specialty retailer’s stock after purchasing an additional 8,640 shares during the quarter. Vestcor Inc’s holdings in Tractor Supply were worth $573,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of TSCO. Raymond James Financial Inc. acquired a new stake in Tractor Supply in the fourth quarter valued at $329,458,000. Meridiem Investment Management Ltd. lifted its holdings in Tractor Supply by 398.9% in the fourth quarter. Meridiem Investment Management Ltd. now owns 5,118,785 shares of the specialty retailer’s stock valued at $271,674,000 after acquiring an additional 4,092,808 shares during the period. Amundi lifted its holdings in Tractor Supply by 495.2% in the fourth quarter. Amundi now owns 4,145,992 shares of the specialty retailer’s stock valued at $225,501,000 after acquiring an additional 3,449,442 shares during the period. Bank of New York Mellon Corp lifted its holdings in Tractor Supply by 403.3% in the fourth quarter. Bank of New York Mellon Corp now owns 3,912,752 shares of the specialty retailer’s stock valued at $207,611,000 after acquiring an additional 3,135,384 shares during the period. Finally, Alecta Tjanstepension Omsesidigt lifted its holdings in Tractor Supply by 400.0% in the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 3,750,000 shares of the specialty retailer’s stock valued at $199,012,000 after acquiring an additional 3,000,000 shares during the period. 98.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TSCO has been the subject of a number of recent analyst reports. Guggenheim reissued a “buy” rating and issued a $60.00 target price on shares of Tractor Supply in a report on Friday, January 31st. Truist Financial reduced their target price on Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a report on Friday, January 31st. Bank of America lifted their price target on Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a research note on Thursday, January 16th. Mizuho lifted 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. Finally, Loop Capital lifted their price target on Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a research note on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.22.

Insider Buying and Selling at Tractor Supply

In other news, EVP Colin Yankee sold 24,602 shares of Tractor Supply stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $54.15, for a total value of $1,332,198.30. Following the transaction, the executive vice president now directly owns 33,645 shares of the company’s stock, valued at $1,821,876.75. The trade was a 42.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Melissa Kersey sold 9,300 shares of Tractor Supply 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 completion of the transaction, the executive vice president now directly owns 34,961 shares in the company, valued at $1,858,876.37. This represents a 21.01 % 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 90 days. 0.24% of the stock is owned by company insiders.

Tractor Supply Trading Up 0.3 %

Tractor Supply stock opened at $51.83 on Monday. The stock has a market cap of $27.68 billion, a PE ratio of 25.41, a P/E/G ratio of 2.95 and a beta of 0.85. The stock has a 50-day moving average price of $55.19 and a 200 day moving average price of $55.74. Tractor Supply has a 52 week low of $48.30 and a 52 week high of $61.53. 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) last posted its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 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%. Equities research analysts predict that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were issued a $0.92 dividend. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $3.68 annualized dividend and a yield of 7.10%. Tractor Supply’s payout ratio is 45.10%.

Tractor Supply declared that its board has authorized a stock repurchase plan on Thursday, February 13th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the specialty retailer to repurchase 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 stock is undervalued.

About Tractor Supply

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.