Tractor Supply (NASDAQ:TSCO) Shares Acquired by Commerce Bank

Commerce Bank increased its position in Tractor Supply (NASDAQ:TSCO) by 393.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 159,213 shares of the specialty retailer’s stock after purchasing an additional 126,973 shares during the period. Commerce Bank’s holdings in Tractor Supply were worth $8,448,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new position in shares of Tractor Supply in the 3rd quarter worth about $734,000. Tidal Investments LLC grew its holdings in shares of Tractor Supply by 722.5% during the third quarter. Tidal Investments LLC now owns 95,172 shares of the specialty retailer’s stock valued at $27,688,000 after purchasing an additional 83,601 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Tractor Supply by 2.0% in the 3rd quarter. Franklin Resources Inc. now owns 454,175 shares of the specialty retailer’s stock worth $137,950,000 after purchasing an additional 8,890 shares during the last quarter. Versant Capital Management Inc boosted its position in Tractor Supply by 345.6% during the 4th quarter. Versant Capital Management Inc now owns 860 shares of the specialty retailer’s stock valued at $46,000 after purchasing an additional 667 shares during the period. Finally, GAMMA Investing LLC grew its stake in Tractor Supply by 515.5% during the 4th quarter. GAMMA Investing LLC now owns 13,702 shares of the specialty retailer’s stock worth $727,000 after buying an additional 11,476 shares during the last quarter. 98.72% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Tractor Supply news, CFO Kurt D. Barton sold 12,146 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $56.00, for a total value of $680,176.00. Following the transaction, the chief financial officer now directly owns 47,715 shares of the company’s stock, valued at $2,672,040. This represents a 20.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $57.69, for a total value of $222,106.50. Following the sale, the senior vice president now owns 31,787 shares of the company’s stock, valued at approximately $1,833,792.03. This represents a 10.80 % 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 worth $7,538,068 in the last quarter. 0.65% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TSCO shares. Mizuho upped 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. Truist Financial dropped their price target on shares of Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Barclays reduced their price objective 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. Stephens assumed coverage on Tractor Supply in a research note on Wednesday, April 9th. They set an “equal weight” rating and a $56.00 target price on the stock. Finally, JPMorgan Chase & Co. increased their price target on Tractor Supply from $58.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Tractor Supply has an average rating of “Moderate Buy” and a consensus target price of $59.07.

Tractor Supply Price Performance

Shares of NASDAQ:TSCO opened at $50.11 on Friday. The company’s fifty day moving average is $53.74 and its two-hundred day moving average is $55.10. The company has a market cap of $26.64 billion, a P/E ratio of 24.56, a price-to-earnings-growth ratio of 2.95 and a beta of 0.88. Tractor Supply has a 12-month low of $46.97 and a 12-month high of $61.53. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82.

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

Tractor Supply announced that its board has approved a stock buyback program on Thursday, February 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the specialty retailer to purchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Tractor Supply Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were paid a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 7.34%. The ex-dividend date of this dividend was Wednesday, February 26th. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio is currently 45.10%.

About Tractor Supply

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.