Tractor Supply (NASDAQ:TSCO) Shares Bought by Swiss National Bank

Swiss National Bank grew its holdings in Tractor Supply (NASDAQ:TSCO) by 376.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,523,500 shares of the specialty retailer’s stock after acquiring an additional 1,203,500 shares during the quarter. Swiss National Bank owned 0.29% of Tractor Supply worth $80,837,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of TSCO. 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 in the last quarter. Blueshift Asset Management LLC raised its holdings in shares of Tractor Supply by 32.7% in the third quarter. Blueshift Asset Management LLC now owns 9,945 shares of the specialty retailer’s stock worth $2,893,000 after buying an additional 2,452 shares during the last quarter. Callan Family Office LLC acquired a new stake in shares of Tractor Supply during the fourth quarter worth $503,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Tractor Supply by 379.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 890,898 shares of the specialty retailer’s stock valued at $47,271,000 after buying an additional 704,896 shares during the last quarter. Finally, Welch & Forbes LLC increased its position in shares of Tractor Supply by 391.4% in the 4th quarter. Welch & Forbes LLC now owns 484,922 shares of the specialty retailer’s stock valued at $25,730,000 after acquiring an additional 386,233 shares during the period. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Trading Up 0.3 %

Shares of NASDAQ:TSCO opened at $51.83 on Friday. The firm has a market capitalization of $27.68 billion, a price-to-earnings ratio of 25.41, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. The business’s 50 day moving average price is $55.19 and its 200-day moving average price is $55.72. 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.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate 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, equities research analysts forecast that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

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

Tractor Supply Increases Dividend

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

Insider Buying and Selling at Tractor Supply

In other news, 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 sale, the senior vice president now owns 31,787 shares of the company’s stock, valued at $1,833,792.03. This represents a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Melissa Kersey sold 9,300 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $53.17, for a total transaction of $494,481.00. Following the completion of the transaction, the executive vice president now directly owns 34,961 shares in the company, valued at approximately $1,858,876.37. This represents a 21.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,993 shares of company stock valued at $7,538,068 over the last quarter. 0.24% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on TSCO shares. Mizuho lifted their price target on Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Loop Capital lifted their target price on Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a report on Thursday, December 12th. Guggenheim reiterated a “buy” rating and issued a $60.00 price target on shares of Tractor Supply in a report on Friday, January 31st. Bank of America lifted their price objective on shares of Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a research note on Thursday, January 16th. Finally, Wells Fargo & Company reduced their target price on shares of Tractor Supply from $65.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. 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 issued a strong buy rating to the company. According to data from MarketBeat.com, Tractor Supply presently has an average rating of “Moderate Buy” and an average price target of $59.22.

About Tractor Supply

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.