Elo Mutual Pension Insurance Co Takes Position in Tractor Supply (NASDAQ:TSCO)

Elo Mutual Pension Insurance Co acquired a new stake in shares of Tractor Supply (NASDAQ:TSCO) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 55,715 shares of the specialty retailer’s stock, valued at approximately $2,956,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Larson Financial Group LLC lifted its stake in 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 during the last quarter. Pine Valley Investments Ltd Liability Co boosted its holdings in Tractor Supply by 7.1% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 978 shares of the specialty retailer’s stock valued at $285,000 after acquiring an additional 65 shares during the period. Synergy Financial Group LTD grew its position in Tractor Supply by 12.4% during the 3rd quarter. Synergy Financial Group LTD now owns 1,090 shares of the specialty retailer’s stock worth $317,000 after acquiring an additional 120 shares during the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of Tractor Supply by 0.5% in the third quarter. Rockefeller Capital Management L.P. now owns 27,710 shares of the specialty retailer’s stock worth $8,058,000 after purchasing an additional 141 shares during the last quarter. Finally, Fiduciary Trust Co grew its holdings in Tractor Supply by 1.6% in the 3rd quarter. Fiduciary Trust Co now owns 12,110 shares of the specialty retailer’s stock worth $3,523,000 after acquiring an additional 191 shares during the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Stock Performance

Tractor Supply stock opened at $53.47 on Friday. The stock’s 50-day moving average is $55.03 and its 200-day moving average is $55.64. The company has a market cap of $28.55 billion, a price-to-earnings ratio of 26.21, 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 debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 EPS 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%. Equities analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply declared that its board has approved a stock buyback program on Thursday, February 13th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to repurchase up to 3.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were paid a $0.92 dividend. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 annualized dividend and a dividend yield of 6.88%. Tractor Supply’s dividend payout ratio is presently 45.10%.

Insider Activity at Tractor Supply

In related news, EVP Melissa Kersey sold 9,300 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $53.17, for a total transaction of $494,481.00. Following the completion of the sale, the executive vice president now directly owns 34,961 shares of the company’s stock, valued at $1,858,876.37. This represents a 21.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Matthew L. Rubin sold 3,850 shares of the company’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 transaction of $222,106.50. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders sold 137,993 shares of company stock worth $7,538,068 in the last 90 days. Corporate insiders own 0.58% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on TSCO. Barclays reduced their target price on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Monday, December 30th. Telsey Advisory Group reiterated an “outperform” rating and set a $67.00 target price on shares of Tractor Supply in a report on Thursday, January 30th. Truist Financial decreased their target price 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. Mizuho lifted their target price on Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Finally, Guggenheim reiterated a “buy” rating and issued a $60.00 price target on shares of Tractor Supply in a research note on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.