Daiwa Securities Group Inc. Acquires 72,985 Shares of Tractor Supply (NASDAQ:TSCO)

Daiwa Securities Group Inc. lifted its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 411.7% in the 4th quarter, HoldingsChannel reports. The fund owned 90,711 shares of the specialty retailer’s stock after purchasing an additional 72,985 shares during the period. Daiwa Securities Group Inc.’s holdings in Tractor Supply were worth $4,814,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in TSCO. BOK Financial Private Wealth Inc. increased its holdings in Tractor Supply by 330.2% during 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 in the last quarter. Blueshift Asset Management LLC raised its stake in shares of Tractor Supply by 32.7% during the 3rd quarter. Blueshift Asset Management LLC now owns 9,945 shares of the specialty retailer’s stock worth $2,893,000 after purchasing an additional 2,452 shares during the period. Callan Family Office LLC bought a new position in Tractor Supply during the fourth quarter valued at about $503,000. Welch & Forbes LLC increased its holdings in Tractor Supply by 391.4% during the fourth quarter. Welch & Forbes LLC now owns 484,922 shares of the specialty retailer’s stock worth $25,730,000 after buying an additional 386,233 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Tractor Supply by 379.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 890,898 shares of the specialty retailer’s stock worth $47,271,000 after acquiring an additional 704,896 shares during the period. Institutional investors and hedge funds own 98.72% of the company’s stock.

Tractor Supply Price Performance

TSCO stock opened at $52.36 on Thursday. The firm has a 50 day simple moving average of $55.21 and a two-hundred day simple moving average of $55.77. The stock has a market cap of $27.96 billion, a PE ratio of 25.67, a P/E/G ratio of 2.95 and a beta of 0.85. Tractor Supply has a one year low of $48.30 and a one 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 announced 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%. On average, analysts predict that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply declared that its Board of Directors has initiated a stock repurchase program on Thursday, February 13th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the specialty retailer to reacquire up to 3.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Tractor Supply Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were paid 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 dividend on an annualized basis and a dividend yield of 7.03%. Tractor Supply’s dividend payout ratio is 45.10%.

Insider Activity at Tractor Supply

In other news, SVP Matthew L. Rubin sold 3,850 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $57.69, for a total transaction of $222,106.50. Following the transaction, the senior vice president now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply stock in a transaction dated 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 approximately $26,686,430.68. This represents a 15.27 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 137,993 shares of company stock valued at $7,538,068. Insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TSCO. Evercore ISI upgraded shares of Tractor Supply from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 15th. Truist Financial decreased their target price on Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Bank of America upped their price target on Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a research report on Thursday, January 16th. Wells Fargo & Company dropped their price objective on shares of Tractor Supply from $65.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Finally, Barclays dropped their price target on shares of Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Monday, December 30th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $59.22.

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.