Tractor Supply (NASDAQ:TSCO) Shares Purchased by DnB Asset Management AS

DnB Asset Management AS grew its position in shares of Tractor Supply (NASDAQ:TSCO) by 414.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 93,310 shares of the specialty retailer’s stock after purchasing an additional 75,186 shares during the quarter. DnB Asset Management AS’s holdings in Tractor Supply were worth $4,951,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Tractor Supply by 392.5% in the fourth quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer’s stock worth $3,397,643,000 after acquiring an additional 51,031,178 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Tractor Supply by 391.0% in the 4th quarter. JPMorgan Chase & Co. now owns 10,821,654 shares of the specialty retailer’s stock worth $574,197,000 after purchasing an additional 8,617,869 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Tractor Supply in the 4th quarter worth approximately $329,458,000. Norges Bank acquired a new stake in Tractor Supply during the fourth quarter valued at approximately $289,491,000. Finally, Meridiem Investment Management Ltd. boosted its holdings in Tractor Supply by 398.9% during the fourth quarter. Meridiem Investment Management Ltd. now owns 5,118,785 shares of the specialty retailer’s stock worth $271,674,000 after buying an additional 4,092,808 shares in the last quarter. Institutional investors own 98.72% of the company’s stock.

Tractor Supply Trading Down 1.3 %

NASDAQ:TSCO opened at $53.47 on Monday. The company 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. The stock’s 50 day moving average price is $55.03 and its 200 day moving average price is $55.66. 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.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates 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, research analysts forecast that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were issued 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 dividend on an annualized basis and a dividend yield of 6.88%. Tractor Supply’s dividend payout ratio is currently 45.10%.

Tractor Supply declared that its board has approved a stock buyback plan 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 stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Mizuho upped their price target on Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Barclays cut their target price on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Monday, December 30th. Bank of America increased 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. JPMorgan Chase & Co. boosted their price objective on Tractor Supply from $58.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $67.00 target price on shares of Tractor Supply in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Tractor Supply currently has a consensus rating of “Moderate Buy” and an average target price of $59.22.

Insider Activity at Tractor Supply

In other news, EVP Colin Yankee sold 24,602 shares of the firm’s 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 sale, the executive vice president now directly owns 33,645 shares of the company’s stock, valued at approximately $1,821,876.75. This trade represents a 42.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 $26,686,430.68. The trade was a 15.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 137,993 shares of company stock valued at $7,538,068. Corporate insiders own 0.24% of the company’s stock.

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.