Erste Asset Management GmbH Buys 64,300 Shares of Tractor Supply (NASDAQ:TSCO)

Erste Asset Management GmbH boosted its stake in Tractor Supply (NASDAQ:TSCO) by 3,782.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 66,000 shares of the specialty retailer’s stock after purchasing an additional 64,300 shares during the quarter. Erste Asset Management GmbH’s holdings in Tractor Supply were worth $3,662,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. BOK Financial Private Wealth Inc. boosted its stake in Tractor Supply by 330.2% in the 4th quarter. BOK Financial Private Wealth Inc. now owns 21,355 shares of the specialty retailer’s stock worth $1,133,000 after purchasing an additional 16,391 shares during the period. Blueshift Asset Management LLC boosted its stake in Tractor Supply by 32.7% in the 3rd quarter. Blueshift Asset Management LLC now owns 9,945 shares of the specialty retailer’s stock worth $2,893,000 after purchasing an additional 2,452 shares during the period. Callan Family Office LLC bought a new position in Tractor Supply in the 4th quarter worth about $503,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Tractor Supply by 379.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 890,898 shares of the specialty retailer’s stock worth $47,271,000 after purchasing an additional 704,896 shares during the period. Finally, Welch & Forbes LLC boosted its stake in Tractor Supply by 391.4% in the 4th quarter. Welch & Forbes LLC now owns 484,922 shares of the specialty retailer’s stock worth $25,730,000 after purchasing an additional 386,233 shares during the period. Institutional investors own 98.72% of the company’s stock.

Tractor Supply Price Performance

Shares of Tractor Supply stock opened at $51.83 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. The business’s 50 day simple moving average is $55.19 and its two-hundred day simple moving average is $55.72. The stock has a market capitalization of $27.68 billion, a P/E ratio of 25.41, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. Tractor Supply has a one year low of $48.30 and a one year high of $61.53.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly 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%. Analysts forecast that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply announced that its board has authorized a stock buyback plan on Thursday, February 13th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the specialty retailer to purchase up to 3.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Tractor Supply Increases Dividend

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

Insider Transactions at Tractor Supply

In other news, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $54.59, for a total value of $4,809,106.05. Following the sale, the chief executive officer now directly owns 488,852 shares in the company, valued at approximately $26,686,430.68. This trade represents a 15.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $57.69, for a total value of $222,106.50. Following the completion of the sale, the senior vice president now owns 31,787 shares in the company, valued at approximately $1,833,792.03. This represents a 10.80 % 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 worth $7,538,068. 0.24% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have weighed in on TSCO shares. Bank of America raised their price target on Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a report on Thursday, January 16th. Wells Fargo & Company lowered their price target on Tractor Supply from $65.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Truist Financial lowered their price target on Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Guggenheim reaffirmed a “buy” rating and issued a $60.00 price target on shares of Tractor Supply in a report on Friday, January 31st. Finally, Evercore ISI raised Tractor Supply from a “hold” rating to a “strong-buy” rating in a report on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.