Tractor Supply (NASDAQ:TSCO) Shares Bought by Norinchukin Bank The

Norinchukin Bank The lifted its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 385.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 495,652 shares of the specialty retailer’s stock after buying an additional 393,509 shares during the period. Norinchukin Bank The’s holdings in Tractor Supply were worth $26,299,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in TSCO. Vanguard Group Inc. increased its position in shares of Tractor Supply by 392.5% during the fourth quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer’s stock worth $3,397,643,000 after purchasing an additional 51,031,178 shares in the last quarter. Wellington Management Group LLP increased its position in 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 worth $1,262,258,000 after buying an additional 19,048,385 shares during the period. Alliancebernstein L.P. lifted its stake in Tractor Supply by 403.3% in 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 buying an additional 17,834,643 shares during the last quarter. Capital World Investors boosted its holdings in shares of Tractor Supply by 403.7% in the fourth quarter. Capital World Investors now owns 19,433,135 shares of the specialty retailer’s stock valued at $1,031,122,000 after acquiring an additional 15,575,311 shares during the period. Finally, Capital International Investors increased its holdings in shares of Tractor Supply by 334.7% in the 4th quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer’s stock valued at $818,421,000 after acquiring an additional 11,880,010 shares during the period. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Price Performance

Shares of NASDAQ:TSCO opened at $50.11 on Friday. Tractor Supply has a 12 month low of $46.97 and a 12 month high of $61.53. The firm has a market capitalization of $26.64 billion, a price-to-earnings ratio of 24.56, a price-to-earnings-growth ratio of 2.95 and a beta of 0.88. The business’s 50 day simple moving average is $53.74 and its 200-day simple moving average is $55.13. 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 (NASDAQ:TSCO) last posted 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 net margin of 7.40% and a return on equity of 49.01%. As a group, equities analysts forecast that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The firm 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 represents a $3.68 annualized dividend and a dividend yield of 7.34%. The ex-dividend date was Wednesday, February 26th. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio is 45.10%.

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

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Tractor Supply from $58.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Guggenheim restated a “buy” rating and issued a $60.00 price target on shares of Tractor Supply in a research report on Friday, January 31st. Bank of America increased their price objective on Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a research report on Thursday, January 16th. Telsey Advisory Group reissued an “outperform” rating and issued a $67.00 target price on shares of Tractor Supply in a report on Thursday. Finally, Barclays decreased their price target on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a report on Monday, December 30th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Tractor Supply has a consensus rating of “Moderate Buy” and a consensus target price of $59.07.

Insider Activity

In related news, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $54.59, for a total transaction of $4,809,106.05. Following the completion of the sale, the chief executive officer now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Melissa Kersey sold 9,300 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were 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 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 137,993 shares of company stock worth $7,538,068 over the last ninety days. 0.24% of the stock is currently owned by insiders.

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.