Natixis Advisors LLC Increases Stake in Tractor Supply (NASDAQ:TSCO)

by · The Markets Daily

Natixis Advisors LLC raised its position in Tractor Supply (NASDAQ:TSCO – Free Report) by 660.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 527,271 shares of the specialty retailer’s stock after purchasing an additional 457,896 shares during the period. Natixis Advisors LLC’s holdings in Tractor Supply were worth $27,977,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Frank Rimerman Advisors LLC lifted its holdings in Tractor Supply by 416.5% in the 4th quarter. Frank Rimerman Advisors LLC now owns 5,640 shares of the specialty retailer’s stock valued at $299,000 after purchasing an additional 4,548 shares in the last quarter. Harbour Investment Management LLC lifted its holdings in Tractor Supply by 400.0% in the 4th quarter. Harbour Investment Management LLC now owns 3,950 shares of the specialty retailer’s stock valued at $210,000 after purchasing an additional 3,160 shares in the last quarter. Copperwynd Financial LLC lifted its holdings in Tractor Supply by 574.0% in the 4th quarter. Copperwynd Financial LLC now owns 5,830 shares of the specialty retailer’s stock valued at $309,000 after purchasing an additional 4,965 shares in the last quarter. Hilton Capital Management LLC lifted its holdings in Tractor Supply by 341.8% in the 4th quarter. Hilton Capital Management LLC now owns 167,146 shares of the specialty retailer’s stock valued at $8,869,000 after purchasing an additional 129,317 shares in the last quarter. Finally, Postrock Partners LLC purchased a new position in Tractor Supply in the 4th quarter valued at $2,240,000. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Insider Buying and Selling at Tractor Supply

In other news, SVP Matthew L. Rubin sold 3,850 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $57.69, for a total transaction of $222,106.50. Following the completion of the transaction, the senior vice president now directly owns 31,787 shares of the company’s stock, valued at approximately $1,833,792.03. The trade was a 10.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Harry A. Lawton III sold 88,095 shares of the business’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. Insiders sold a total of 137,993 shares of company stock valued at $7,538,068 in the last three months. 0.24% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on TSCO shares. Mizuho raised their price objective on Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Truist Financial reduced their price target on Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Bank of America lifted their price target on Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a report on Thursday, January 16th. Guggenheim reiterated a “buy” rating and set a $60.00 price target on shares of Tractor Supply in a report on Friday, January 31st. Finally, Barclays reduced their price target on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating on the stock in a report on Monday, December 30th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $59.22.

Check Out Our Latest Stock Report on Tractor Supply

Tractor Supply Stock Performance

NASDAQ TSCO opened at $53.13 on Tuesday. The company has a market cap of $28.37 billion, a P/E ratio of 26.04, a P/E/G ratio of 2.95 and a beta of 0.85. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. The stock has a 50-day moving average of $55.18 and a two-hundred day moving average of $55.73. Tractor Supply has a 1-year low of $48.30 and a 1-year high of $61.53.

Tractor Supply (NASDAQ:TSCO – Get Free Report) last released 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, analysts anticipate that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply declared that its Board of Directors has approved a share buyback program on Thursday, February 13th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the specialty retailer to purchase up to 3.3% of its shares through open market purchases. Shares buyback programs are typically 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 an increase from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 annualized dividend and a yield of 6.93%. The ex-dividend date of this dividend was Wednesday, February 26th. Tractor Supply’s payout ratio is currently 45.10%.

Tractor Supply Company Profile

(Free Report)

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.

Further Reading

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