Prudential PLC Has $12.90 Million Holdings in Tractor Supply (NASDAQ:TSCO)

Prudential PLC boosted its position in shares of Tractor Supply (NASDAQ:TSCO) by 360.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 243,151 shares of the specialty retailer’s stock after acquiring an additional 190,396 shares during the period. Prudential PLC’s holdings in Tractor Supply were worth $12,902,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. FMR LLC lifted its position in shares of Tractor Supply by 7.6% during the 3rd quarter. FMR LLC now owns 163,454 shares of the specialty retailer’s stock worth $47,554,000 after purchasing an additional 11,584 shares during the last quarter. Public Sector Pension Investment Board lifted its holdings in shares of Tractor Supply by 12.0% during the third quarter. Public Sector Pension Investment Board now owns 4,664 shares of the specialty retailer’s stock worth $1,357,000 after buying an additional 500 shares during the last quarter. Hilltop Holdings Inc. boosted its position in shares of Tractor Supply by 38.3% in the third quarter. Hilltop Holdings Inc. now owns 2,165 shares of the specialty retailer’s stock valued at $630,000 after acquiring an additional 599 shares during the period. HighTower Advisors LLC grew its stake in shares of Tractor Supply by 4.1% in the third quarter. HighTower Advisors LLC now owns 44,819 shares of the specialty retailer’s stock worth $13,099,000 after acquiring an additional 1,771 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in Tractor Supply by 2.6% during the third quarter. Janus Henderson Group PLC now owns 14,557 shares of the specialty retailer’s stock worth $4,236,000 after acquiring an additional 363 shares during the period. 98.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on TSCO. JPMorgan Chase & Co. raised their price target on shares of Tractor Supply from $58.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Bank of America boosted their price target on Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a research note on Thursday, January 16th. Mizuho raised their price objective on Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Truist Financial lowered their price objective on Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Finally, Loop Capital raised their target price on Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a research report on Thursday, December 12th. Two 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $59.22.

Tractor Supply Trading Down 6.0 %

TSCO opened at $52.40 on Friday. Tractor Supply has a 1-year low of $48.30 and a 1-year high of $61.53. The stock has a market capitalization of $27.86 billion, a PE ratio of 25.69, a PEG ratio of 2.95 and a beta of 0.88. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. The firm has a 50-day moving average price of $54.84 and a two-hundred day moving average price of $55.61.

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%. As a group, equities analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors 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 7.02%. Tractor Supply’s dividend payout ratio (DPR) is currently 45.10%.

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

Insider Buying and Selling

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of the firm’s stock in a transaction that occurred 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kurt D. Barton sold 12,146 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $56.00, for a total transaction of $680,176.00. Following the sale, the chief financial officer now owns 47,715 shares of the company’s stock, valued at $2,672,040. The trade was a 20.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 137,993 shares of company stock worth $7,538,068 over the last three months. 0.24% of the stock is currently owned by company insiders.

Tractor Supply Company 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.