Mitsubishi UFJ Asset Management Co. Ltd. Has $43.74 Million Position in Tractor Supply (NASDAQ:TSCO)

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Tractor Supply (NASDAQ:TSCO) by 428.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 842,271 shares of the specialty retailer’s stock after purchasing an additional 682,963 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.16% of Tractor Supply worth $43,739,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Tractor Supply by 392.5% during the 4th quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer’s stock worth $3,397,643,000 after buying an additional 51,031,178 shares during the period. Raymond James Financial Inc. bought a new position in shares of Tractor Supply during the fourth quarter valued at $329,458,000. Meridiem Investment Management Ltd. lifted its holdings in shares of Tractor Supply by 398.9% during the fourth 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. Wellington Management Group LLP boosted its stake in shares of Tractor Supply by 3.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,740,864 shares of the specialty retailer’s stock valued at $1,379,260,000 after purchasing an additional 161,503 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Tractor Supply by 1.1% in the 3rd quarter. State Street Corp now owns 4,518,341 shares of the specialty retailer’s stock worth $1,314,521,000 after purchasing an additional 47,951 shares during the last quarter. Institutional investors own 98.72% of the company’s stock.

Tractor Supply Stock Performance

TSCO stock opened at $53.47 on Friday. Tractor Supply has a twelve month low of $48.30 and a twelve 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. The company has a market cap of $28.55 billion, a P/E ratio of 26.21, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. The business’s fifty day moving average is $55.03 and its 200-day moving average is $55.65.

Tractor Supply (NASDAQ:TSCO) 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%. Equities research analysts forecast that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were paid a dividend of $0.92 per share. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $3.68 annualized dividend and a yield of 6.88%. Tractor Supply’s dividend payout ratio (DPR) is presently 45.10%.

Tractor Supply declared that its Board of Directors has approved 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 stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

TSCO has been the topic of a number of recent analyst reports. Bank of America boosted their price target on shares of Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a research report on Thursday, January 16th. Guggenheim restated a “buy” rating and set a $60.00 price target on shares of Tractor Supply in a research report on Friday, January 31st. Mizuho lifted their price objective on Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. 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 report on Friday, January 31st. Finally, JPMorgan Chase & Co. lifted their price target on Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Two 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 stock. Based on data from MarketBeat, Tractor Supply has a consensus rating of “Moderate Buy” and an average target price of $59.22.

Insider Activity at Tractor Supply

In other Tractor Supply news, 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 completion of the transaction, the chief executive officer now directly owns 488,852 shares of the company’s stock, valued at approximately $26,686,430.68. The trade was a 15.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Matthew L. Rubin sold 3,850 shares of the firm’s 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 in the company, valued at approximately $1,833,792.03. This represents a 10.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 137,993 shares of company stock worth $7,538,068. 0.58% of the stock is currently owned by company insiders.

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.