Tractor Supply (NASDAQ:TSCO) Stock Holdings Boosted by Prudential PLC

Prudential PLC boosted its position in Tractor Supply (NASDAQ:TSCO) by 360.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 243,151 shares of the specialty retailer’s stock after purchasing an additional 190,396 shares during the quarter. Prudential PLC’s holdings in Tractor Supply were worth $12,902,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC grew its stake in shares of Tractor Supply by 7.6% in the third quarter. FMR LLC now owns 163,454 shares of the specialty retailer’s stock worth $47,554,000 after purchasing an additional 11,584 shares in the last quarter. Public Sector Pension Investment Board lifted its holdings in Tractor Supply by 12.0% in the third quarter. Public Sector Pension Investment Board now owns 4,664 shares of the specialty retailer’s stock worth $1,357,000 after purchasing an additional 500 shares during the period. Hilltop Holdings Inc. grew its position in Tractor Supply by 38.3% in the 3rd quarter. Hilltop Holdings Inc. now owns 2,165 shares of the specialty retailer’s stock valued at $630,000 after buying an additional 599 shares in the last quarter. HighTower Advisors LLC increased its stake in Tractor Supply by 4.1% during the 3rd quarter. HighTower Advisors LLC now owns 44,819 shares of the specialty retailer’s stock valued at $13,099,000 after buying an additional 1,771 shares during the period. Finally, Janus Henderson Group PLC increased its stake in Tractor Supply by 2.6% during the 3rd quarter. Janus Henderson Group PLC now owns 14,557 shares of the specialty retailer’s stock valued at $4,236,000 after buying an additional 363 shares during the period. 98.72% of the stock is owned by institutional investors and hedge funds.

Tractor Supply Stock Performance

TSCO stock opened at $52.40 on Friday. The firm has a 50 day simple moving average of $54.84 and a 200 day simple moving average of $55.61. Tractor Supply has a 52 week low of $48.30 and a 52 week high of $61.53. The stock has a market cap of $27.86 billion, a P/E ratio of 25.69, a P/E/G ratio of 2.95 and a beta of 0.88. 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 (NASDAQ:TSCO) last issued 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%. Research 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 share buyback 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 buy up to 3.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Tractor Supply Increases Dividend

The company 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 is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 annualized dividend and a yield of 7.02%. The ex-dividend date was Wednesday, February 26th. Tractor Supply’s dividend payout ratio is presently 45.10%.

Insider Transactions at Tractor Supply

In other news, CEO Harry A. Lawton III sold 88,095 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $54.59, for a total transaction of $4,809,106.05. Following the transaction, the chief executive officer now owns 488,852 shares in the company, valued at $26,686,430.68. This represents a 15.27 % decrease in their position. The sale 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 on Thursday, February 6th. The stock was sold at an average price of $53.17, for a total transaction of $494,481.00. Following the completion of the sale, 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 sold 137,993 shares of company stock valued at $7,538,068 in the last three months. Corporate insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

TSCO has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Bank of America increased their price target 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 boosted their price objective on Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a research note on Thursday, December 12th. Guggenheim reaffirmed a “buy” rating and set a $60.00 target price on shares of Tractor Supply in a research note on Friday, January 31st. Finally, Mizuho boosted their price target on shares of Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Tractor Supply presently has a consensus rating of “Moderate Buy” and an average 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.