Jensen Investment Management Inc. Purchases 100,920 Shares of Tractor Supply (NASDAQ:TSCO)

Jensen Investment Management Inc. boosted its position in Tractor Supply (NASDAQ:TSCO) by 400.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 126,150 shares of the specialty retailer’s stock after acquiring an additional 100,920 shares during the period. Jensen Investment Management Inc.’s holdings in Tractor Supply were worth $6,694,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Providence Capital Advisors LLC bought a new position in Tractor Supply in the third quarter valued at about $32,000. Assetmark Inc. boosted its holdings in Tractor Supply by 2,383.3% in the third quarter. Assetmark Inc. now owns 149 shares of the specialty retailer’s stock valued at $43,000 after acquiring an additional 143 shares during the last quarter. Larson Financial Group LLC boosted its holdings in Tractor Supply by 29.4% in the third quarter. Larson Financial Group LLC now owns 286 shares of the specialty retailer’s stock valued at $83,000 after acquiring an additional 65 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in Tractor Supply by 13.2% in the third quarter. First Horizon Advisors Inc. now owns 351 shares of the specialty retailer’s stock valued at $102,000 after acquiring an additional 41 shares during the last quarter. Finally, Icon Wealth Advisors LLC bought a new position in Tractor Supply in the third quarter valued at about $111,000. Institutional investors own 98.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Barclays reduced their target price on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating on the stock in a report on Monday, December 30th. Bank of America raised their target price on Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a report on Thursday, January 16th. Mizuho raised 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. Wells Fargo & Company reduced their target price on Tractor Supply from $65.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Finally, Truist Financial reduced their target price on Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Tractor Supply has an average rating of “Moderate Buy” and an average target price of $59.22.

Tractor Supply Stock Up 0.3 %

Shares of Tractor Supply stock opened at $51.83 on Monday. The business’s 50 day simple moving average is $55.19 and its 200 day simple moving average is $55.74. Tractor Supply has a 52-week low of $48.30 and a 52-week high of $61.53. The firm has a market cap of $27.68 billion, a PE ratio of 25.41, a P/E/G ratio of 2.95 and a beta of 0.85. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43.

Tractor Supply (NASDAQ:TSCO) last announced its earnings results 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%. On average, analysts predict that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were paid a dividend of $0.92 per share. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 7.10%. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio is currently 45.10%.

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

Insider Activity

In other Tractor Supply news, CEO Harry A. Lawton III sold 88,095 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $54.59, for a total transaction of $4,809,106.05. Following the sale, the chief executive officer now directly owns 488,852 shares of the company’s stock, valued at approximately $26,686,430.68. This represents a 15.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 transaction of $494,481.00. Following the completion of 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. In the last 90 days, insiders sold 137,993 shares of company stock valued at $7,538,068. 0.24% of the stock is 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.