Atlantic Union Bankshares Corp Has $628,000 Holdings in Tractor Supply (NASDAQ:TSCO)

Atlantic Union Bankshares Corp grew its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 400.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 11,840 shares of the specialty retailer’s stock after acquiring an additional 9,472 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Tractor Supply were worth $628,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Raymond James Financial Inc. acquired a new position in shares of Tractor Supply during the 4th quarter worth approximately $329,458,000. Meridiem Investment Management Ltd. grew its position in shares of Tractor Supply by 398.9% during 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 in the last quarter. Wellington Management Group LLP grew its position in shares of Tractor Supply by 3.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,740,864 shares of the specialty retailer’s stock worth $1,379,260,000 after purchasing an additional 161,503 shares in the last quarter. State Street Corp grew its position in shares of Tractor Supply by 1.1% during the 3rd quarter. State Street Corp now owns 4,518,341 shares of the specialty retailer’s stock worth $1,314,521,000 after purchasing an additional 47,951 shares in the last quarter. Finally, Amundi grew its position in shares of Tractor Supply by 495.2% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Insider Activity

In other 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 transaction 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Colin Yankee sold 24,602 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $54.15, for a total transaction of $1,332,198.30. Following the transaction, the executive vice president now directly owns 33,645 shares of the company’s stock, valued at $1,821,876.75. The trade was a 42.24 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 137,993 shares of company stock valued at $7,538,068. Insiders own 0.24% of the company’s stock.

Tractor Supply Price Performance

TSCO stock opened at $56.89 on Friday. The company has a fifty day moving average price of $55.11 and a 200-day moving average price of $55.75. The company has a market capitalization of $30.38 billion, a P/E ratio of 27.89, a PEG ratio of 2.95 and a beta of 0.85. Tractor Supply has a 52-week low of $48.30 and a 52-week high of $61.53. 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 (NASDAQ:TSCO) last released its quarterly 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 net margin of 7.40% and a return on equity of 49.01%. As a group, equities analysts expect that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply announced that its board has authorized a stock 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 repurchase up to 3.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th will be paid a dividend of $0.92 per share. The ex-dividend date is Wednesday, February 26th. This represents a $3.68 annualized dividend and a dividend yield of 6.47%. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio (DPR) is presently 45.10%.

Analysts Set New Price Targets

A number of research analysts have issued reports on TSCO shares. Guggenheim restated a “buy” rating and set a $60.00 target price on shares of Tractor Supply in a research report on Friday, January 31st. Barclays cut their price target on shares of Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a report on Monday, December 30th. Loop Capital upped their price target on shares of Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a report on Thursday, December 12th. Wells Fargo & Company cut their price target on shares of Tractor Supply from $65.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Finally, Bank of America upped their price target on shares of Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a report on Thursday, January 16th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Tractor Supply presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.22.

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.