Skandinaviska Enskilda Banken AB publ Raises Stake in Tractor Supply (NASDAQ:TSCO)

Skandinaviska Enskilda Banken AB publ grew its stake in shares of Tractor Supply (NASDAQ:TSCO) by 400.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 114,745 shares of the specialty retailer’s stock after purchasing an additional 91,796 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Tractor Supply were worth $6,031,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Providence Capital Advisors LLC purchased a new stake in shares of Tractor Supply during the third quarter valued at $32,000. Assetmark Inc. raised its holdings in shares of Tractor Supply by 2,383.3% in the third quarter. Assetmark Inc. now owns 149 shares of the specialty retailer’s stock valued at $43,000 after acquiring an additional 143 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of Tractor Supply by 29.4% in the third quarter. Larson Financial Group LLC now owns 286 shares of the specialty retailer’s stock valued at $83,000 after acquiring an additional 65 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Tractor Supply by 13.2% in the third quarter. First Horizon Advisors Inc. now owns 351 shares of the specialty retailer’s stock valued at $102,000 after acquiring an additional 41 shares in the last quarter. Finally, Icon Wealth Advisors LLC bought a new stake in shares of Tractor Supply in the third quarter valued at about $111,000. 98.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Matthew L. Rubin sold 3,850 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $57.69, for a total value of $222,106.50. Following the transaction, 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 SEC, which is available through this hyperlink. Also, CEO Harry A. Lawton III sold 88,095 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $54.59, for a total value of $4,809,106.05. Following the transaction, the chief executive officer now directly owns 488,852 shares of the company’s stock, valued at approximately $26,686,430.68. This represents a 15.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 137,993 shares of company stock valued at $7,538,068. 0.24% of the stock is currently owned by company insiders.

Tractor Supply Trading Up 0.3 %

NASDAQ TSCO opened at $51.83 on Friday. The firm has a 50 day simple moving average of $55.19 and a 200-day simple moving average of $55.73. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. Tractor Supply has a one year low of $48.30 and a one year high of $61.53. The firm has a market cap of $27.68 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 2.95 and a beta of 0.85.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 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%. Equities research analysts anticipate that Tractor Supply will post 2.17 EPS for the current fiscal year.

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

Tractor Supply Increases Dividend

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

Analyst Ratings Changes

Several analysts recently weighed in on the company. Telsey Advisory Group restated an “outperform” rating and issued a $67.00 price objective on shares of Tractor Supply in a report on Thursday, January 30th. 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 report on Monday, December 30th. Loop Capital lifted their target price on Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, December 12th. Bank of America lifted their target price on Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a research note on Thursday, January 16th. Finally, Truist Financial cut their target price on Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.22.

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.