Tractor Supply (NASDAQ:TSCO) Holdings Increased by Prudential Financial Inc.

Prudential Financial Inc. lifted its stake in Tractor Supply (NASDAQ:TSCO) by 319.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 275,850 shares of the specialty retailer’s stock after acquiring an additional 210,036 shares during the period. Prudential Financial Inc. owned 0.05% of Tractor Supply worth $14,637,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Smithfield Trust Co lifted its position in Tractor Supply by 286.2% in the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 352 shares during the period. PrairieView Partners LLC raised its stake in shares of Tractor Supply by 400.0% in the 4th quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer’s stock worth $26,000 after buying an additional 400 shares in the last quarter. Future Financial Wealth Managment LLC lifted its holdings in shares of Tractor Supply by 400.0% in the fourth quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 400 shares during the period. Archer Investment Corp boosted its stake in Tractor Supply by 400.0% during the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 400 shares in the last quarter. Finally, Kentucky Trust Co acquired a new position in Tractor Supply during the fourth quarter worth about $27,000. 98.72% of the stock is currently owned by institutional investors.

Insider Transactions at Tractor Supply

In related news, CEO Harry A. Lawton III sold 88,095 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $54.59, for a total value of $4,809,106.05. Following the completion of the sale, the chief executive officer now directly owns 488,852 shares in the company, valued at approximately $26,686,430.68. This represents a 15.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Melissa Kersey sold 9,300 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $1,858,876.37. This trade 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. 0.58% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Guggenheim reissued a “buy” rating and issued a $60.00 price target on shares of Tractor Supply in a report on Friday, January 31st. Mizuho increased their target price on shares of Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Loop Capital lifted their price target on shares of Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a research report on Thursday, December 12th. Telsey Advisory Group reiterated an “outperform” rating and set a $67.00 price objective on shares of Tractor Supply in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. lifted their target price on Tractor Supply from $58.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Two analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $59.22.

Tractor Supply Trading Up 0.5 %

NASDAQ TSCO opened at $54.16 on Friday. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. Tractor Supply has a 1-year low of $48.30 and a 1-year high of $61.53. The firm’s fifty day simple moving average is $55.03 and its 200-day simple moving average is $55.65. The company has a market capitalization of $28.92 billion, a PE ratio of 26.55, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85.

Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share for the quarter, missing the consensus estimate of $2.28 by ($1.84). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. As a group, sell-side analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply declared that its Board of Directors has approved a stock repurchase plan on Thursday, February 13th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to reacquire up to 3.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Tractor Supply Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were given a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 6.79%. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, February 26th. Tractor Supply’s payout ratio is currently 45.10%.

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.