UniSuper Management Pty Ltd Buys 44,728 Shares of Tractor Supply (NASDAQ:TSCO)

UniSuper Management Pty Ltd lifted its stake in Tractor Supply (NASDAQ:TSCO) by 549.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 52,871 shares of the specialty retailer’s stock after purchasing an additional 44,728 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Tractor Supply were worth $2,805,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Tractor Supply by 392.5% during the fourth quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer’s stock valued at $3,397,643,000 after acquiring an additional 51,031,178 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Tractor Supply by 391.0% during the 4th quarter. JPMorgan Chase & Co. now owns 10,821,654 shares of the specialty retailer’s stock valued at $574,197,000 after purchasing an additional 8,617,869 shares during the last quarter. Raymond James Financial Inc. bought a new position in Tractor Supply during the 4th quarter valued at about $329,458,000. Meridiem Investment Management Ltd. raised its position in Tractor Supply by 398.9% in the 4th quarter. Meridiem Investment Management Ltd. now owns 5,118,785 shares of the specialty retailer’s stock worth $271,674,000 after purchasing an additional 4,092,808 shares during the period. Finally, Amundi lifted its stake in Tractor Supply by 495.2% in the fourth quarter. Amundi now owns 4,145,992 shares of the specialty retailer’s stock worth $225,501,000 after purchasing an additional 3,449,442 shares during the last quarter. Institutional investors own 98.72% of the company’s stock.

Tractor Supply Stock Down 1.3 %

NASDAQ:TSCO opened at $53.47 on Friday. The company’s 50-day simple moving average is $55.03 and its 200-day simple moving average is $55.65. 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 fifty-two week low of $48.30 and a fifty-two week high of $61.53. The stock has a market capitalization of $28.55 billion, a P/E ratio of 26.21, a P/E/G ratio of 2.95 and a beta of 0.85.

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 net margin of 7.40% and a return on equity of 49.01%. On average, equities analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were given a dividend of $0.92 per share. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 annualized dividend and a yield of 6.88%. The ex-dividend date of this dividend was Wednesday, February 26th. Tractor Supply’s dividend payout ratio is currently 45.10%.

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on TSCO shares. Truist Financial reduced their price target on Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Mizuho increased their target price on Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Bank of America boosted 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. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $67.00 price target on shares of Tractor Supply in a research note on Thursday, January 30th. Finally, Barclays lowered 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 research report on Monday, December 30th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $59.22.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total value 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 approximately $1,833,792.03. This trade represents a 10.80 % decrease in their ownership of the stock. The transaction 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 directly owns 34,961 shares in the company, valued at $1,858,876.37. This trade represents a 21.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 137,993 shares of company stock worth $7,538,068. 0.58% of the stock is owned by insiders.

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.