Treasurer of the State of North Carolina Buys 190,048 Shares of Tractor Supply (NASDAQ:TSCO)

Treasurer of the State of North Carolina raised its stake in Tractor Supply (NASDAQ:TSCO) by 403.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 237,185 shares of the specialty retailer’s stock after acquiring an additional 190,048 shares during the period. Treasurer of the State of North Carolina’s holdings in Tractor Supply were worth $12,585,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of TSCO. Vanguard Group Inc. increased its stake in Tractor Supply by 392.5% during 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. Wellington Management Group LLP grew its holdings in shares of Tractor Supply by 401.8% during the fourth quarter. Wellington Management Group LLP now owns 23,789,249 shares of the specialty retailer’s stock valued at $1,262,258,000 after buying an additional 19,048,385 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Tractor Supply by 403.3% during the fourth quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer’s stock valued at $1,180,932,000 after acquiring an additional 17,834,643 shares in the last quarter. Geode Capital Management LLC raised its holdings in Tractor Supply by 403.2% in the 4th quarter. Geode Capital Management LLC now owns 14,519,937 shares of the specialty retailer’s stock worth $768,838,000 after acquiring an additional 11,634,249 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Tractor Supply by 391.0% in the 4th quarter. JPMorgan Chase & Co. now owns 10,821,654 shares of the specialty retailer’s stock valued at $574,197,000 after acquiring an additional 8,617,869 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors.

Tractor Supply Trading Up 0.7 %

Shares of Tractor Supply stock opened at $51.67 on Friday. Tractor Supply has a fifty-two week low of $46.97 and a fifty-two week high of $61.53. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. The company has a market capitalization of $27.47 billion, a P/E ratio of 25.33, a P/E/G ratio of 2.95 and a beta of 0.88. The company has a fifty day moving average of $54.07 and a 200 day moving average of $55.36.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data 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 return on equity of 49.01% and a net margin of 7.40%. On average, sell-side analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

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

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders 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 dividend on an annualized basis and a yield of 7.12%. The ex-dividend date of this dividend was Wednesday, February 26th. Tractor Supply’s payout ratio is currently 45.10%.

Insiders Place Their Bets

In other Tractor Supply news, EVP Colin Yankee sold 24,602 shares of Tractor Supply stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $54.15, for a total value of $1,332,198.30. Following the sale, the executive vice president now owns 33,645 shares of the company’s stock, valued at $1,821,876.75. The trade was a 42.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Melissa Kersey sold 9,300 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $53.17, for a total value of $494,481.00. Following the transaction, the executive vice president now owns 34,961 shares of the company’s stock, valued at $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 have sold a total of 137,993 shares of company stock worth $7,538,068 in the last 90 days. 0.24% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on TSCO shares. JPMorgan Chase & Co. boosted their price target on Tractor Supply from $58.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Truist Financial decreased their target price on Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Barclays dropped their price target on shares of Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating on the stock in a report on Monday, December 30th. Mizuho increased their price objective on shares of Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $67.00 price objective on shares of Tractor Supply in a report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $59.07.

Tractor Supply Company 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.