Mizuho Securities USA LLC Boosts Position in Tractor Supply (NASDAQ:TSCO)

Mizuho Securities USA LLC grew its position in Tractor Supply (NASDAQ:TSCO) by 623.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,632 shares of the specialty retailer’s stock after buying an additional 43,637 shares during the quarter. Mizuho Securities USA LLC’s holdings in Tractor Supply were worth $2,687,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Providence Capital Advisors LLC purchased a new position in Tractor Supply during the 3rd quarter valued at about $32,000. Larson Financial Group LLC grew its position 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 valued at $83,000 after purchasing an additional 65 shares during the last quarter. Icon Wealth Advisors LLC purchased a new position in shares of Tractor Supply during the 3rd quarter worth approximately $111,000. Glen Eagle Advisors LLC raised its position 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 worth $135,000 after purchasing an additional 200 shares during the last quarter. Finally, Smithfield Trust Co lifted its stake in Tractor Supply by 286.2% in the 4th quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 352 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Tractor Supply Trading Up 2.0 %

Shares of TSCO stock opened at $53.53 on Tuesday. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. Tractor Supply has a fifty-two week low of $48.30 and a fifty-two week high of $61.53. The firm’s 50 day moving average price is $55.01 and its two-hundred day moving average price is $55.68. The stock has a market cap of $28.59 billion, a price-to-earnings ratio of 26.24, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results 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 anticipate that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were issued a dividend of $0.92 per share. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 annualized dividend and a dividend yield of 6.87%. The ex-dividend date of this dividend was Wednesday, February 26th. Tractor Supply’s dividend payout ratio (DPR) is presently 45.10%.

Tractor Supply announced that its board has authorized a share repurchase program on Thursday, February 13th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the specialty retailer to buy up to 3.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on TSCO shares. Wells Fargo & Company dropped their price target on Tractor Supply from $65.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Guggenheim reissued a “buy” rating and issued a $60.00 target price on shares of Tractor Supply in a research note on Friday, January 31st. Mizuho upped their target price on shares of Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Truist Financial lowered their price target 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. Finally, Loop Capital upped their price objective on shares of Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.22.

Insider Buying and Selling

In related news, EVP Melissa Kersey sold 9,300 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $53.17, for a total value of $494,481.00. Following the transaction, the executive vice president now owns 34,961 shares in the company, valued at approximately $1,858,876.37. The trade was a 21.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Matthew L. Rubin sold 3,850 shares of the firm’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 value of $222,106.50. Following 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. In the last ninety days, insiders have sold 137,993 shares of company stock valued at $7,538,068. Corporate insiders own 0.24% of the company’s stock.

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.