Utah Retirement Systems Purchases 71,780 Shares of Tractor Supply (NASDAQ:TSCO)

Utah Retirement Systems increased its position in Tractor Supply (NASDAQ:TSCO) by 402.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 89,600 shares of the specialty retailer’s stock after purchasing an additional 71,780 shares during the quarter. Utah Retirement Systems’ holdings in Tractor Supply were worth $4,754,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Tractor Supply by 392.5% during the 4th 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 in the last quarter. Wellington Management Group LLP boosted its holdings in Tractor Supply by 401.8% during the fourth 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 in the last quarter. Alliancebernstein L.P. boosted its holdings in Tractor Supply by 403.3% during the fourth quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer’s stock valued at $1,180,932,000 after purchasing an additional 17,834,643 shares in the last quarter. Capital World Investors grew its stake in shares of Tractor Supply by 403.7% in the 4th quarter. Capital World Investors now owns 19,433,135 shares of the specialty retailer’s stock valued at $1,031,122,000 after purchasing an additional 15,575,311 shares during the period. Finally, Capital International Investors raised its holdings in shares of Tractor Supply by 334.7% in the 4th quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer’s stock worth $818,421,000 after buying an additional 11,880,010 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Tractor Supply Trading Down 0.5 %

NASDAQ TSCO opened at $50.35 on Friday. The company has a market capitalization of $26.77 billion, a PE ratio of 24.68, a P/E/G ratio of 2.95 and a beta of 0.88. Tractor Supply has a 12 month low of $46.85 and a 12 month high of $61.53. The stock has a 50-day simple moving average of $52.47 and a 200 day simple moving average of $54.52. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $0.34 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.03). The business had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.55 billion. Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.83 EPS. Research analysts forecast 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 issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 7.31%. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. Tractor Supply’s dividend payout ratio (DPR) is presently 45.77%.

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

Analysts Set New Price Targets

A number of brokerages have weighed in on TSCO. Truist Financial lowered their price target on Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Mizuho lowered their target price on shares of Tractor Supply from $62.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Citigroup cut their price target on shares of Tractor Supply from $59.00 to $51.00 and set a “neutral” rating for the company in a report on Friday, April 25th. Robert W. Baird decreased their price objective on shares of Tractor Supply from $63.00 to $56.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Finally, Guggenheim cut their target price on shares of Tractor Supply from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $58.02.

Insider Activity

In related news, SVP Matthew L. Rubin sold 3,850 shares of the firm’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 trade represents a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Colin Yankee sold 24,602 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $54.15, for a total transaction of $1,332,198.30. Following the sale, the executive vice president now directly owns 33,645 shares in the company, valued at $1,821,876.75. This trade represents a 42.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 137,993 shares of company stock worth $7,538,068 over the last three months. Corporate insiders own 0.65% 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.