Nomura Asset Management Co. Ltd. Boosts Stock Position in Tractor Supply (NASDAQ:TSCO)

Nomura Asset Management Co. Ltd. lifted its position in shares of Tractor Supply (NASDAQ:TSCO) by 362.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 782,788 shares of the specialty retailer’s stock after buying an additional 613,518 shares during the period. Nomura Asset Management Co. Ltd. owned about 0.15% of Tractor Supply worth $41,535,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of TSCO. Larson Financial Group LLC raised its stake in shares of Tractor Supply by 29.4% during the third quarter. Larson Financial Group LLC now owns 286 shares of the specialty retailer’s stock worth $83,000 after acquiring an additional 65 shares in the last quarter. Icon Wealth Advisors LLC bought a new stake in Tractor Supply in the third quarter worth $111,000. Glen Eagle Advisors LLC grew its stake in shares of Tractor Supply by 75.8% during the third quarter. Glen Eagle Advisors LLC now owns 464 shares of the specialty retailer’s stock valued at $135,000 after buying an additional 200 shares during the last quarter. Smithfield Trust Co grew its stake in shares of Tractor Supply by 286.2% during the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 352 shares during the last quarter. Finally, Future Financial Wealth Managment LLC lifted its stake in shares of Tractor Supply by 400.0% in the 4th quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 400 shares during the last quarter. Institutional investors own 98.72% of the company’s stock.

Tractor Supply Stock Performance

Tractor Supply stock opened at $53.47 on Friday. Tractor Supply has a twelve month low of $48.30 and a twelve month high of $61.53. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $28.55 billion, a P/E ratio of 26.21, a PEG ratio of 2.95 and a beta of 0.85. The stock’s 50 day moving average is $55.03 and its 200 day moving average is $55.64.

Tractor Supply (NASDAQ:TSCO) last released its earnings results on Thursday, January 30th. The specialty retailer reported $0.44 EPS 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%. On average, equities research analysts predict that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply announced that its Board of Directors has approved a share repurchase program on Thursday, February 13th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the specialty retailer to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

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 a boost from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 annualized dividend and a yield of 6.88%. Tractor Supply’s payout ratio is 45.10%.

Insider Transactions at Tractor Supply

In related news, EVP Colin Yankee sold 24,602 shares of the stock in a transaction on 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 of the company’s stock, valued at $1,821,876.75. This trade represents a 42.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Melissa Kersey sold 9,300 shares of Tractor Supply stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $53.17, for a total value 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 $1,858,876.37. The trade was a 21.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 137,993 shares of company stock worth $7,538,068. Corporate insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TSCO. Bank of America upped their price target on shares of Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a report on Thursday, January 16th. Mizuho increased their target price on shares of Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Loop Capital boosted their price target on Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a report on Thursday, December 12th. JPMorgan Chase & Co. lifted their price objective on Tractor Supply from $58.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Finally, Guggenheim restated a “buy” rating and set a $60.00 target price on shares of Tractor Supply in a report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Tractor Supply presently has an average rating of “Moderate Buy” and a consensus price target of $59.22.

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.