Tredje AP fonden Purchases 25,444 Shares of Tractor Supply (NASDAQ:TSCO)

Tredje AP fonden raised its position in Tractor Supply (NASDAQ:TSCO) by 150.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,405 shares of the specialty retailer’s stock after buying an additional 25,444 shares during the quarter. Tredje AP fonden’s holdings in Tractor Supply were worth $2,250,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in shares of Tractor Supply during the 4th quarter worth approximately $329,458,000. Meridiem Investment Management Ltd. boosted its holdings in shares of 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 valued at $271,674,000 after purchasing an additional 4,092,808 shares in the last quarter. Amundi increased its stake in shares of Tractor Supply by 495.2% in the 4th quarter. Amundi now owns 4,145,992 shares of the specialty retailer’s stock valued at $225,501,000 after purchasing an additional 3,449,442 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Tractor Supply by 403.3% in the 4th 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 purchasing an additional 3,135,384 shares during the last quarter. Finally, Alecta Tjanstepension Omsesidigt raised its holdings in shares of Tractor Supply by 400.0% during the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 3,750,000 shares of the specialty retailer’s stock worth $199,012,000 after buying an additional 3,000,000 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Tractor Supply Price Performance

TSCO stock opened at $51.66 on Friday. The firm has a market cap of $27.59 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 2.95 and a beta of 0.85. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. Tractor Supply has a 12-month low of $48.30 and a 12-month high of $61.53. The company’s fifty day simple moving average is $55.21 and its 200 day simple moving average is $55.77.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data 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 return on equity of 49.01% and a net margin of 7.40%. On average, analysts expect that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply declared that its board has authorized a share repurchase plan on Thursday, February 13th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the specialty retailer to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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 paid a $0.92 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. 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 7.12%. Tractor Supply’s payout ratio is 45.10%.

Insiders Place Their Bets

In other Tractor Supply news, EVP Melissa Kersey sold 9,300 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $53.17, for a total value of $494,481.00. Following the transaction, the executive vice president now owns 34,961 shares in the company, valued at approximately $1,858,876.37. This represents a 21.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Matthew L. Rubin sold 3,850 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was 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 in the company, valued at approximately $1,833,792.03. The trade was a 10.80 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 137,993 shares of company stock worth $7,538,068. Corporate insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Wells Fargo & Company decreased their target price on Tractor Supply from $65.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Truist Financial lowered their price target on shares of Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a report on Friday, January 31st. Evercore ISI raised Tractor Supply from a “hold” rating to a “strong-buy” rating in a report on Friday, November 15th. Loop Capital upped their target price on Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a report on Thursday, December 12th. Finally, Bank of America increased their target price on Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a research report on Thursday, January 16th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.