Tractor Supply (NASDAQ:TSCO) Shares Purchased by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd increased its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 82.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,850 shares of the specialty retailer’s stock after purchasing an additional 3,550 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Tractor Supply were worth $417,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CIBC Private Wealth Group LLC boosted its holdings in Tractor Supply by 385.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,089,542 shares of the specialty retailer’s stock valued at $59,260,000 after acquiring an additional 865,273 shares during the period. BOK Financial Private Wealth Inc. boosted its holdings in Tractor Supply by 330.2% during the 4th quarter. BOK Financial Private Wealth Inc. now owns 21,355 shares of the specialty retailer’s stock valued at $1,133,000 after acquiring an additional 16,391 shares during the period. Blueshift Asset Management LLC boosted its holdings in Tractor Supply by 571.8% during the 4th quarter. Blueshift Asset Management LLC now owns 66,815 shares of the specialty retailer’s stock valued at $3,545,000 after acquiring an additional 56,870 shares during the period. Callan Family Office LLC purchased a new position in Tractor Supply during the 4th quarter valued at about $503,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Tractor Supply by 379.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 890,898 shares of the specialty retailer’s stock valued at $47,271,000 after acquiring an additional 704,896 shares during the period. 98.72% of the stock is owned by institutional investors and hedge funds.

Tractor Supply Trading Up 7.0 %

TSCO opened at $51.38 on Thursday. The firm has a market cap of $27.31 billion, a price-to-earnings ratio of 25.19, a price-to-earnings-growth ratio of 2.95 and a beta of 0.88. Tractor Supply has a 52 week low of $46.97 and a 52 week high of $61.53. The business’s 50 day moving average is $54.18 and its two-hundred day moving average is $55.42. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82.

Tractor Supply (NASDAQ:TSCO) last released 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, research analysts predict that Tractor Supply will post 2.17 EPS for the current year.

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

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were issued a $0.92 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 7.16%. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s payout ratio is presently 45.10%.

Insider Activity

In related news, EVP Melissa Kersey sold 9,300 shares of Tractor Supply stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $53.17, for a total value of $494,481.00. Following the sale, the executive vice president now directly owns 34,961 shares in the company, valued at $1,858,876.37. The trade was a 21.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply stock in a transaction that occurred on Thursday, February 20th. The shares were 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 trade represents a 10.80 % 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 valued at $7,538,068. Company insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TSCO. Stephens began coverage on Tractor Supply in a research note on Wednesday. They issued an “equal weight” rating and a $56.00 price objective for the company. Barclays decreased their price objective on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a research note on Monday, December 30th. Bank of America lifted their price objective on Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a research note on Thursday, January 16th. Loop Capital lifted their price objective on Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. lifted their price objective on Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tractor Supply has an average rating of “Moderate Buy” and an average target price of $59.07.

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.