15,975 Shares in Tractor Supply (NASDAQ:TSCO) Purchased by Allstate Corp

Allstate Corp purchased a new stake in shares of Tractor Supply (NASDAQ:TSCO) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 15,975 shares of the specialty retailer’s stock, valued at approximately $848,000.

Other institutional investors have also added to or reduced their stakes in the company. Brown Brothers Harriman & Co. increased its holdings in shares of Tractor Supply by 331.3% in the 4th quarter. Brown Brothers Harriman & Co. now owns 158,575 shares of the specialty retailer’s stock worth $8,414,000 after buying an additional 121,812 shares during the last quarter. DnB Asset Management AS grew its position in Tractor Supply by 414.8% in the fourth quarter. DnB Asset Management AS now owns 93,310 shares of the specialty retailer’s stock worth $4,951,000 after acquiring an additional 75,186 shares in the last quarter. Level Four Advisory Services LLC increased its stake in Tractor Supply by 401.6% during the fourth quarter. Level Four Advisory Services LLC now owns 9,410 shares of the specialty retailer’s stock worth $499,000 after acquiring an additional 7,534 shares during the last quarter. Orion Portfolio Solutions LLC lifted its stake in shares of Tractor Supply by 391.3% in the 4th quarter. Orion Portfolio Solutions LLC now owns 49,184 shares of the specialty retailer’s stock valued at $2,610,000 after purchasing an additional 39,174 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted its stake in shares of Tractor Supply by 472.7% in the 4th quarter. Pictet Asset Management Holding SA now owns 367,606 shares of the specialty retailer’s stock valued at $19,505,000 after purchasing an additional 303,421 shares during the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Price Performance

Shares of TSCO opened at $55.10 on Tuesday. 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 50 day moving average price of $55.06 and a 200-day moving average price of $55.65. Tractor Supply has a fifty-two week low of $48.30 and a fifty-two week high of $61.53. The stock has a market capitalization of $29.42 billion, a PE ratio of 27.01, a PEG ratio of 2.95 and a beta of 0.85.

Tractor Supply (NASDAQ:TSCO) last posted its 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%. Equities analysts predict that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were issued a $0.92 dividend. 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 yield of 6.68%. Tractor Supply’s payout ratio is currently 45.10%.

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TSCO shares. Barclays lowered their price target on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a research report on Monday, December 30th. Loop Capital lifted their price target on shares of Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a research note on Thursday, December 12th. Telsey Advisory Group reissued an “outperform” rating and issued a $67.00 price objective on shares of Tractor Supply in a research report on Thursday, January 30th. Truist Financial dropped their target price on Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Finally, Bank of America raised their price target on Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a research note on Thursday, January 16th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $59.22.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply stock in a transaction on 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 transaction, the chief executive officer now directly owns 488,852 shares of the company’s stock, valued at approximately $26,686,430.68. The trade was a 15.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Melissa Kersey sold 9,300 shares of the stock in a transaction on Thursday, February 6th. The shares were 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 of the company’s stock, valued at approximately $1,858,876.37. This represents a 21.01 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 137,993 shares of company stock valued at $7,538,068. 0.24% of the stock is currently owned by insiders.

Tractor Supply Company 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.