5,455,912 Shares in Tractor Supply (NASDAQ:TSCO) Bought by Norges Bank

Norges Bank purchased a new stake in shares of Tractor Supply (NASDAQ:TSCO) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 5,455,912 shares of the specialty retailer’s stock, valued at approximately $289,491,000. Norges Bank owned approximately 1.02% of Tractor Supply as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of TSCO. BOK Financial Private Wealth Inc. lifted its holdings in shares of Tractor Supply by 330.2% in the 4th quarter. BOK Financial Private Wealth Inc. now owns 21,355 shares of the specialty retailer’s stock valued at $1,133,000 after acquiring an additional 16,391 shares during the last quarter. Blueshift Asset Management LLC raised its position in Tractor Supply by 571.8% during the fourth quarter. Blueshift Asset Management LLC now owns 66,815 shares of the specialty retailer’s stock valued at $3,545,000 after purchasing an additional 56,870 shares during the period. Callan Family Office LLC purchased a new stake in Tractor Supply during the fourth quarter valued at approximately $503,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Tractor Supply by 379.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 890,898 shares of the specialty retailer’s stock worth $47,271,000 after purchasing an additional 704,896 shares during the period. Finally, Citizens Financial Group Inc. RI increased its position in shares of Tractor Supply by 368.7% during the 4th quarter. Citizens Financial Group Inc. RI now owns 7,485 shares of the specialty retailer’s stock valued at $397,000 after purchasing an additional 5,888 shares during the last quarter. Institutional investors own 98.72% of the company’s stock.

Insider Activity at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of the stock in a transaction dated 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 sale, the senior vice president now directly owns 31,787 shares in the company, 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 filing with the SEC, 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 that occurred 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 transaction, the chief financial officer now owns 47,715 shares in the company, 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 137,993 shares of company stock valued at $7,538,068 over the last 90 days. Insiders own 0.58% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Telsey Advisory Group reaffirmed an “outperform” rating and set a $67.00 price objective on shares of Tractor Supply in a research note on Thursday, January 30th. Bank of America lifted their price target on shares of Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a research note on Thursday, January 16th. Barclays reduced their price objective on shares of Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Monday, December 30th. Loop Capital boosted their target price on Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a research report on Thursday, December 12th. Finally, Truist Financial reduced their price target on Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $59.22.

Tractor Supply Stock Down 1.3 %

Tractor Supply stock opened at $53.47 on Friday. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. The firm has a market cap of $28.55 billion, a P/E ratio of 26.21, a P/E/G ratio of 2.95 and a beta of 0.85. The business has a fifty day moving average of $55.03 and a two-hundred day moving average of $55.65. Tractor Supply has a twelve month low of $48.30 and a twelve month high of $61.53.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates 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 forecast that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

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

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 6.88%. 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. Tractor Supply’s payout ratio is 45.10%.

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.