149,500 Shares in Tractor Supply (NASDAQ:TSCO) Acquired by Payden & Rygel

Payden & Rygel purchased a new stake in Tractor Supply (NASDAQ:TSCO) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 149,500 shares of the specialty retailer’s stock, valued at approximately $7,932,000.

Several other large investors also recently made changes to their positions in the stock. Envestnet Asset Management Inc. increased its holdings in Tractor Supply by 383.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 4,884,923 shares of the specialty retailer’s stock worth $259,194,000 after purchasing an additional 3,874,333 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its holdings in shares of Tractor Supply by 82.6% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 7,850 shares of the specialty retailer’s stock worth $417,000 after buying an additional 3,550 shares in the last quarter. Aviva PLC raised its position in Tractor Supply by 390.9% in the 4th quarter. Aviva PLC now owns 802,685 shares of the specialty retailer’s stock valued at $42,590,000 after buying an additional 639,173 shares during the last quarter. Resona Asset Management Co. Ltd. bought a new stake in Tractor Supply in the 4th quarter valued at approximately $9,363,000. Finally, Islay Capital Management LLC boosted its position in Tractor Supply by 407.2% during the 4th quarter. Islay Capital Management LLC now owns 19,100 shares of the specialty retailer’s stock worth $1,013,000 after acquiring an additional 15,334 shares during the last quarter. Institutional investors own 98.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Mizuho boosted their price target on shares of Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Guggenheim restated a “buy” rating and set a $60.00 price objective on shares of Tractor Supply in a research note on Friday, January 31st. Truist Financial lowered their target price 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. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $67.00 price target on shares of Tractor Supply in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tractor Supply has an average rating of “Moderate Buy” and a consensus target price of $59.22.

Insider Transactions at Tractor Supply

In related news, SVP Matthew L. Rubin sold 3,850 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $57.69, for a total transaction of $222,106.50. Following the completion of the sale, the senior vice president now owns 31,787 shares of the company’s stock, valued at $1,833,792.03. This represents a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Colin Yankee sold 24,602 shares of the 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 owns 33,645 shares in the company, valued at $1,821,876.75. The trade was a 42.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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 corporate insiders.

Tractor Supply Trading Down 6.0 %

Shares of Tractor Supply stock opened at $52.40 on Friday. 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 firm has a 50-day moving average of $54.84 and a 200-day moving average of $55.61. Tractor Supply has a 52-week low of $48.30 and a 52-week high of $61.53. The stock has a market cap of $27.86 billion, a PE ratio of 25.69, a PEG ratio of 2.95 and a beta of 0.88.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data 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 net margin of 7.40% and a return on equity of 49.01%. As a group, sell-side analysts forecast 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. Stockholders of record on Wednesday, February 26th were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 7.02%. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, February 26th. Tractor Supply’s dividend payout ratio is presently 45.10%.

Tractor Supply announced that its board has authorized a stock repurchase program on Thursday, February 13th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the specialty retailer to repurchase up to 3.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors 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.