TIAA Trust National Association Purchases 11,770 Shares of Tractor Supply (NASDAQ:TSCO)

TIAA Trust National Association boosted its position in Tractor Supply (NASDAQ:TSCO) by 397.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,730 shares of the specialty retailer’s stock after buying an additional 11,770 shares during the quarter. TIAA Trust National Association’s holdings in Tractor Supply were worth $782,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in TSCO. Providence Capital Advisors LLC bought a new stake in Tractor Supply in the 3rd quarter valued at about $32,000. Larson Financial Group LLC increased its stake in shares of Tractor Supply by 29.4% in the third quarter. Larson Financial Group LLC now owns 286 shares of the specialty retailer’s stock worth $83,000 after purchasing an additional 65 shares in the last quarter. Icon Wealth Advisors LLC bought a new stake in shares of Tractor Supply in the third quarter valued at approximately $111,000. Glen Eagle Advisors LLC lifted its stake in shares of Tractor Supply by 75.8% during the 3rd quarter. Glen Eagle Advisors LLC now owns 464 shares of the specialty retailer’s stock valued at $135,000 after buying an additional 200 shares in the last quarter. Finally, Smithfield Trust Co boosted its holdings in Tractor Supply by 286.2% in the 4th quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer’s stock worth $25,000 after buying an additional 352 shares during the period. 98.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TSCO shares. Bank of America boosted their target price on shares of Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a report on Thursday, January 16th. Telsey Advisory Group reiterated an “outperform” rating and set a $67.00 price objective on shares of Tractor Supply in a research note on Thursday, January 30th. Barclays cut their target price on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a research note on Monday, December 30th. Guggenheim reaffirmed a “buy” rating and set a $60.00 target price on shares of Tractor Supply in a report on Friday, January 31st. Finally, Loop Capital increased 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. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $59.22.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, CEO Harry A. Lawton III sold 88,095 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 488,852 shares in the company, valued at approximately $26,686,430.68. The trade was a 15.27 % 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, EVP Melissa Kersey sold 9,300 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $53.17, for a total transaction of $494,481.00. Following the completion of the transaction, the executive vice president now owns 34,961 shares in the company, valued at $1,858,876.37. This represents a 21.01 % 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. Company insiders own 0.58% of the company’s stock.

Tractor Supply Price Performance

Shares of Tractor Supply stock opened at $54.16 on Friday. The business’s 50-day moving average price is $55.03 and its 200-day moving average price is $55.65. The firm has a market capitalization of $28.92 billion, a PE ratio of 26.55, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. Tractor Supply has a 12 month low of $48.30 and a 12 month high of $61.53. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 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%. Sell-side analysts forecast that Tractor Supply will post 2.17 EPS for the current fiscal year.

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 was Wednesday, February 26th. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 annualized dividend and a yield of 6.79%. Tractor Supply’s payout ratio is currently 45.10%.

Tractor Supply announced that its Board of Directors has authorized a stock buyback plan on Thursday, February 13th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the specialty retailer to buy up to 3.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

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.