Tractor Supply (NASDAQ:TSCO) Shares Acquired by Ilmarinen Mutual Pension Insurance Co

Ilmarinen Mutual Pension Insurance Co increased its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 799.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 112,525 shares of the specialty retailer’s stock after acquiring an additional 100,020 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in Tractor Supply were worth $5,971,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Russell Investments Group Ltd. boosted its holdings in Tractor Supply by 927.7% in the 4th quarter. Russell Investments Group Ltd. now owns 379,785 shares of the specialty retailer’s stock worth $20,137,000 after buying an additional 342,831 shares during the last quarter. Payden & Rygel acquired a new stake in shares of Tractor Supply in the fourth quarter worth approximately $7,932,000. Envestnet Asset Management Inc. increased its position in shares of Tractor Supply by 383.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 4,884,923 shares of the specialty retailer’s stock worth $259,194,000 after purchasing an additional 3,874,333 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its position in shares of Tractor Supply by 82.6% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 7,850 shares of the specialty retailer’s stock worth $417,000 after purchasing an additional 3,550 shares in the last quarter. Finally, Aviva PLC raised its stake in Tractor Supply by 390.9% in the 4th quarter. Aviva PLC now owns 802,685 shares of the specialty retailer’s stock valued at $42,590,000 after purchasing an additional 639,173 shares during the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Stock Performance

NASDAQ:TSCO opened at $52.40 on Friday. The company has a market cap of $27.86 billion, a price-to-earnings ratio of 25.69, a price-to-earnings-growth ratio of 2.95 and a beta of 0.88. 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 has a 52 week low of $48.30 and a 52 week high of $61.53. The company has a fifty day simple moving average of $54.84 and a two-hundred day simple moving average of $55.61.

Tractor Supply (NASDAQ:TSCO) last issued 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%. As a group, equities analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The company 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 dividend on an annualized basis and a yield of 7.02%. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s payout ratio is currently 45.10%.

Tractor Supply declared that its Board of Directors has initiated a stock repurchase plan on Thursday, February 13th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the specialty retailer to buy up to 3.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

TSCO has been the subject of a number of research reports. Mizuho upped their target price on shares of Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Bank of America boosted their price target on shares of Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a research report on Thursday, January 16th. Guggenheim reaffirmed a “buy” rating and issued a $60.00 price target on shares of Tractor Supply in a report on Friday, January 31st. Barclays dropped their target price on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a report on Monday, December 30th. Finally, Loop Capital boosted their target price on shares of Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $59.22.

Insider Buying and Selling at Tractor Supply

In related news, CFO Kurt D. Barton sold 12,146 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $56.00, for a total transaction of $680,176.00. Following the completion of the sale, the chief financial officer now owns 47,715 shares in the company, valued at $2,672,040. The trade was a 20.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Matthew L. Rubin sold 3,850 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were 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 owns 31,787 shares in the company, valued at $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. In the last three months, insiders have sold 137,993 shares of company stock valued at $7,538,068. Insiders own 0.24% of the company’s stock.

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.