Intrust Bank NA Increases Position in Tractor Supply (NASDAQ:TSCO)

Intrust Bank NA boosted its stake in shares of Tractor Supply (NASDAQ:TSCO) by 389.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,550 shares of the specialty retailer’s stock after buying an additional 7,600 shares during the quarter. Intrust Bank NA’s holdings in Tractor Supply were worth $507,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in TSCO. Vanguard Group Inc. increased its stake in Tractor Supply by 392.5% in 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 purchasing an additional 51,031,178 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Tractor Supply by 391.0% in the fourth quarter. JPMorgan Chase & Co. now owns 10,821,654 shares of the specialty retailer’s stock valued at $574,197,000 after purchasing an additional 8,617,869 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Tractor Supply in the fourth quarter valued at $329,458,000. Norges Bank acquired a new position in shares of Tractor Supply during the 4th quarter worth $289,491,000. Finally, Meridiem Investment Management Ltd. boosted its position in shares of Tractor Supply by 398.9% in the 4th quarter. Meridiem Investment Management Ltd. now owns 5,118,785 shares of the specialty retailer’s stock worth $271,674,000 after buying an additional 4,092,808 shares in the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tractor Supply

In other news, EVP Melissa Kersey sold 9,300 shares of Tractor Supply stock in a transaction that occurred 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 sale, the executive vice president now owns 34,961 shares in the company, valued at $1,858,876.37. This trade represents a 21.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction 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 $1,833,792.03. This trade represents a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,993 shares of company stock valued at $7,538,068 over the last three months. 0.58% of the stock is owned by company insiders.

Analyst Ratings Changes

TSCO has been the topic of a number of recent research reports. Bank of America upped their target price on Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a research note on Thursday, January 16th. Barclays reduced their price objective 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. Mizuho lifted their price objective on Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Telsey Advisory Group restated an “outperform” rating and issued a $67.00 target price on shares of Tractor Supply in a report on Thursday, January 30th. Finally, 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 report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Tractor Supply currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.22.

Tractor Supply Stock Performance

NASDAQ TSCO opened at $53.47 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. Tractor Supply has a 1-year low of $48.30 and a 1-year high of $61.53. The firm has a market capitalization of $28.55 billion, a P/E ratio of 26.21, a P/E/G ratio of 2.95 and a beta of 0.85. The business’s 50-day simple moving average is $55.03 and its 200-day simple moving average is $55.65.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly 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 net margin of 7.40% and a return on equity of 49.01%. Equities analysts predict that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply declared that its board has authorized 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 purchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were issued a $0.92 dividend. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 annualized dividend and a yield of 6.88%. The ex-dividend date of this dividend was Wednesday, February 26th. Tractor Supply’s dividend payout ratio is currently 45.10%.

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.