CANADA LIFE ASSURANCE Co Buys 465,017 Shares of Tractor Supply (NASDAQ:TSCO)

CANADA LIFE ASSURANCE Co increased its stake in shares of Tractor Supply (NASDAQ:TSCO) by 388.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 584,809 shares of the specialty retailer’s stock after purchasing an additional 465,017 shares during the quarter. CANADA LIFE ASSURANCE Co owned 0.11% of Tractor Supply worth $31,020,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of TSCO. Vanguard Group Inc. raised its stake in shares of Tractor Supply by 392.5% in the fourth quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer’s stock valued at $3,397,643,000 after acquiring an additional 51,031,178 shares during the period. Wellington Management Group LLP grew its holdings in Tractor Supply by 401.8% during the 4th quarter. Wellington Management Group LLP now owns 23,789,249 shares of the specialty retailer’s stock valued at $1,262,258,000 after purchasing an additional 19,048,385 shares during the last quarter. Alliancebernstein L.P. raised its position in Tractor Supply by 403.3% in the 4th quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer’s stock worth $1,180,932,000 after purchasing an additional 17,834,643 shares during the period. Geode Capital Management LLC raised its holdings in shares of Tractor Supply by 403.2% in the fourth quarter. Geode Capital Management LLC now owns 14,519,937 shares of the specialty retailer’s stock worth $768,838,000 after buying an additional 11,634,249 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of Tractor Supply by 391.0% during the fourth quarter. JPMorgan Chase & Co. now owns 10,821,654 shares of the specialty retailer’s stock worth $574,197,000 after purchasing an additional 8,617,869 shares during the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Stephens assumed coverage on shares of Tractor Supply in a research report on Wednesday, April 9th. They issued an “equal weight” rating and a $56.00 price objective for the company. Truist Financial lowered their price target on Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a report on Friday, January 31st. Guggenheim restated a “buy” rating and set a $60.00 price objective on shares of Tractor Supply in a report on Friday, January 31st. Mizuho upped 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, JPMorgan Chase & Co. raised their price target on Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $59.07.

Tractor Supply Stock Up 1.5 %

Tractor Supply stock opened at $50.11 on Friday. The business’s 50-day simple moving average is $53.74 and its two-hundred day simple moving average is $55.13. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. The company has a market cap of $26.64 billion, a PE ratio of 24.56, a PEG ratio of 2.95 and a beta of 0.88. Tractor Supply has a fifty-two week low of $46.97 and a fifty-two week high of $61.53.

Tractor Supply (NASDAQ:TSCO) last issued its 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 EPS for the current year.

Tractor Supply Increases Dividend

The firm 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 represents a $3.68 annualized dividend and a dividend yield of 7.34%. The ex-dividend date of this dividend was Wednesday, February 26th. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio (DPR) is 45.10%.

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

Insider Buying and Selling at Tractor Supply

In other news, EVP Melissa Kersey sold 9,300 shares of the company’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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Colin Yankee sold 24,602 shares of Tractor Supply stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $54.15, for a total value of $1,332,198.30. Following the transaction, the executive vice president now owns 33,645 shares of the company’s stock, valued at approximately $1,821,876.75. This represents a 42.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,993 shares of company stock valued at $7,538,068. 0.24% of the stock is owned by insiders.

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.