Loomis Sayles & Co. L P Sells 23,317 Shares of Tractor Supply (NASDAQ:TSCO)

Loomis Sayles & Co. L P reduced its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 49.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,613 shares of the specialty retailer’s stock after selling 23,317 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Tractor Supply were worth $1,253,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in Tractor Supply by 392.5% during the fourth quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer’s stock worth $3,397,643,000 after acquiring an additional 51,031,178 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Tractor Supply by 391.0% during the 4th quarter. JPMorgan Chase & Co. now owns 10,821,654 shares of the specialty retailer’s stock valued at $574,197,000 after purchasing an additional 8,617,869 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Tractor Supply during the 4th quarter worth approximately $329,458,000. Meridiem Investment Management Ltd. lifted its stake in Tractor Supply by 398.9% in the 4th quarter. Meridiem Investment Management Ltd. now owns 5,118,785 shares of the specialty retailer’s stock valued at $271,674,000 after purchasing an additional 4,092,808 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in Tractor Supply by 3.5% in the third quarter. Wellington Management Group LLP now owns 4,740,864 shares of the specialty retailer’s stock valued at $1,379,260,000 after buying an additional 161,503 shares in the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on TSCO. 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. Telsey Advisory Group reiterated an “outperform” rating and issued a $67.00 target price on shares of Tractor Supply in a research report on Thursday, January 30th. Mizuho lifted their price target on Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Truist Financial lowered their price objective on Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Finally, Bank of America lifted their target price on shares of Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a research report on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Tractor Supply presently has an average rating of “Moderate Buy” and a consensus price target of $59.22.

Insider Transactions at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $57.69, for a total value of $222,106.50. Following the transaction, the senior vice president now owns 31,787 shares in the company, valued at approximately $1,833,792.03. This 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 is accessible 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 shares were sold at an average price of $53.17, for a total value 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 trade represents a 21.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 137,993 shares of company stock valued at $7,538,068 in the last 90 days. 0.58% of the stock is currently owned by corporate insiders.

Tractor Supply Trading Down 1.3 %

NASDAQ TSCO opened at $53.47 on Friday. The stock has a market capitalization 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 50 day simple moving average of $55.03 and a 200 day simple moving average of $55.65. 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 has a one year low of $48.30 and a one year high of $61.53.

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

Tractor Supply Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were issued a dividend of $0.92 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $3.68 annualized dividend and a dividend yield of 6.88%. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio is currently 45.10%.

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

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.