Voya Investment Management LLC Grows Position in Tractor Supply (NASDAQ:TSCO)

Voya Investment Management LLC lifted its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 307.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 978,742 shares of the specialty retailer’s stock after purchasing an additional 738,481 shares during the quarter. Voya Investment Management LLC owned 0.18% of Tractor Supply worth $51,932,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Smithfield Trust Co raised its position in shares of Tractor Supply by 286.2% during 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. Coppell Advisory Solutions LLC boosted its holdings in shares of Tractor Supply by 944.4% in the 4th quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 425 shares in the last quarter. PrairieView Partners LLC increased its position in shares of Tractor Supply by 400.0% during the 4th quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 400 shares during the last quarter. Future Financial Wealth Managment LLC raised its holdings in shares of Tractor Supply by 400.0% during the 4th quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 400 shares in the last quarter. Finally, Archer Investment Corp lifted its position in Tractor Supply by 400.0% in the 4th quarter. Archer Investment Corp now owns 500 shares of the specialty retailer’s stock worth $27,000 after buying an additional 400 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TSCO has been the subject of a number of recent research reports. Truist Financial lowered their price objective 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. Stephens started coverage on shares of Tractor Supply in a research report on Wednesday, April 9th. They set an “equal weight” rating and a $56.00 price target for the company. JPMorgan Chase & Co. raised their price objective on Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Robert W. Baird lowered their target price on Tractor Supply from $63.00 to $56.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Barclays reduced their price target on 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. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.88.

Insider Buying and Selling

In related news, SVP Matthew L. Rubin sold 3,850 shares of the company’s stock in a transaction 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 completion of the transaction, the senior vice president now owns 31,787 shares of the company’s stock, valued at approximately $1,833,792.03. This represents a 10.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Harry A. Lawton III sold 88,095 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $54.59, for a total value of $4,809,106.05. Following the sale, the chief executive officer now directly owns 488,852 shares in the company, valued at approximately $26,686,430.68. This represents a 15.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 137,993 shares of company stock valued at $7,538,068. 0.65% of the stock is owned by corporate insiders.

Tractor Supply Trading Up 1.9 %

Tractor Supply stock opened at $49.92 on Friday. The business has a 50-day simple moving average of $53.04 and a two-hundred day simple moving average of $54.80. Tractor Supply has a 52-week low of $46.85 and a 52-week high of $61.53. 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 company has a market cap of $26.54 billion, a P/E ratio of 24.47, a P/E/G ratio of 2.95 and a beta of 0.88.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). The business had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.55 billion. Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. Analysts predict that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The business 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. The ex-dividend date of this dividend was Wednesday, February 26th. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 dividend on an annualized basis and a dividend yield of 7.37%. Tractor Supply’s payout ratio is 45.77%.

Tractor Supply announced that its Board of Directors has initiated a share repurchase plan on Thursday, February 13th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the specialty retailer to purchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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.