NBT Bank N A NY Boosts Stock Position in Tractor Supply (NASDAQ:TSCO)

NBT Bank N A NY boosted its stake in shares of Tractor Supply (NASDAQ:TSCO) by 400.0% in the 4th quarter, HoldingsChannel reports. The fund owned 5,900 shares of the specialty retailer’s stock after buying an additional 4,720 shares during the quarter. NBT Bank N A NY’s holdings in Tractor Supply were worth $313,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TSCO. Raymond James Financial Inc. purchased a new stake in Tractor Supply during the 4th quarter valued at about $329,458,000. Meridiem Investment Management Ltd. boosted its holdings in Tractor Supply by 398.9% during the 4th quarter. Meridiem Investment Management Ltd. now owns 5,118,785 shares of the specialty retailer’s stock valued at $271,674,000 after acquiring an additional 4,092,808 shares during the period. Amundi boosted its holdings in Tractor Supply by 495.2% during the 4th quarter. Amundi now owns 4,145,992 shares of the specialty retailer’s stock valued at $225,501,000 after acquiring an additional 3,449,442 shares during the period. Bank of New York Mellon Corp boosted its holdings in Tractor Supply by 403.3% during the 4th quarter. Bank of New York Mellon Corp now owns 3,912,752 shares of the specialty retailer’s stock valued at $207,611,000 after acquiring an additional 3,135,384 shares during the period. Finally, Alecta Tjanstepension Omsesidigt boosted its holdings in Tractor Supply by 400.0% during the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 3,750,000 shares of the specialty retailer’s stock valued at $199,012,000 after acquiring an additional 3,000,000 shares during the period. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Tractor Supply Stock Performance

Tractor Supply stock opened at $53.92 on Wednesday. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $28.79 billion, a P/E ratio of 26.43, a PEG ratio of 2.95 and a beta of 0.85. The stock’s 50 day moving average is $55.22 and its 200 day moving average is $55.79. Tractor Supply has a twelve month low of $48.30 and a twelve month high of $61.53.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly 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%. On average, equities research analysts predict that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply announced that its Board of Directors has approved 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 an indication that the company’s management believes its stock is undervalued.

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were paid a $0.92 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $3.68 annualized dividend and a dividend yield of 6.82%. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio is presently 45.10%.

Insider Buying and Selling

In other Tractor Supply 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 transaction of $222,106.50. Following the sale, the senior vice president now directly owns 31,787 shares in the company, valued at approximately $1,833,792.03. This trade represents a 10.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Melissa Kersey sold 9,300 shares of the stock in a transaction 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 sale, the executive vice president now owns 34,961 shares in the company, valued at approximately $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 137,993 shares of company stock worth $7,538,068 in the last 90 days. Insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TSCO. Telsey Advisory Group restated an “outperform” rating and set a $67.00 target price on shares of Tractor Supply in a report on Thursday, January 30th. Barclays lowered their price target on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a research report on Monday, December 30th. JPMorgan Chase & Co. upped their price target on Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Mizuho upped their price target on Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Finally, Guggenheim reaffirmed a “buy” rating and set a $60.00 price target on shares of Tractor Supply in a research report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Tractor Supply currently has an average 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.