Zevenbergen Capital Investments LLC Purchases 14,905 Shares of Tractor Supply (NASDAQ:TSCO)

Zevenbergen Capital Investments LLC lifted its position in Tractor Supply (NASDAQ:TSCO) by 400.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,625 shares of the specialty retailer’s stock after acquiring an additional 14,905 shares during the quarter. Zevenbergen Capital Investments LLC’s holdings in Tractor Supply were worth $988,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. BOK Financial Private Wealth Inc. boosted its position in Tractor Supply by 330.2% in the fourth quarter. BOK Financial Private Wealth Inc. now owns 21,355 shares of the specialty retailer’s stock valued at $1,133,000 after buying an additional 16,391 shares during the last quarter. Blueshift Asset Management LLC grew its stake in shares of Tractor Supply by 32.7% during the 3rd quarter. Blueshift Asset Management LLC now owns 9,945 shares of the specialty retailer’s stock worth $2,893,000 after purchasing an additional 2,452 shares during the period. Callan Family Office LLC acquired a new stake in shares of Tractor Supply during the 4th quarter worth approximately $503,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Tractor Supply by 379.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 890,898 shares of the specialty retailer’s stock worth $47,271,000 after purchasing an additional 704,896 shares during the period. Finally, Citizens Financial Group Inc. RI grew its stake in shares of Tractor Supply by 368.7% during the 4th quarter. Citizens Financial Group Inc. RI now owns 7,485 shares of the specialty retailer’s stock worth $397,000 after purchasing an additional 5,888 shares during the period. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Stock Up 1.2 %

Shares of NASDAQ:TSCO opened at $52.46 on Monday. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. Tractor Supply has a 12-month low of $48.30 and a 12-month high of $61.53. The company has a fifty day simple moving average of $55.03 and a 200 day simple moving average of $55.69. The firm has a market cap of $28.01 billion, a PE ratio of 25.72, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results 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%. On average, equities research analysts anticipate that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply declared that its Board of Directors has authorized a stock buyback program on Thursday, February 13th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the specialty retailer to repurchase up to 3.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors 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. The ex-dividend date was Wednesday, February 26th. 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 7.01%. Tractor Supply’s dividend payout ratio (DPR) is currently 45.10%.

Insider Activity

In other news, EVP Colin Yankee sold 24,602 shares of Tractor Supply stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $54.15, for a total value of $1,332,198.30. Following the completion of the transaction, the executive vice president now directly owns 33,645 shares in the company, valued at approximately $1,821,876.75. The trade was a 42.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $57.69, for a total value of $222,106.50. Following the sale, the senior vice president now directly owns 31,787 shares of the company’s stock, valued at approximately $1,833,792.03. This trade represents a 10.80 % decrease in their position. 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. Company insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on TSCO shares. Telsey Advisory Group reiterated an “outperform” rating and set a $67.00 target price on shares of Tractor Supply in a research report on Thursday, January 30th. Truist Financial decreased their target price on Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Wells Fargo & Company decreased their price objective on Tractor Supply from $65.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Barclays decreased their price objective 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. Finally, Mizuho lifted their price target on Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $59.22.

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.