BOK Financial Private Wealth Inc. Purchases 16,391 Shares of Tractor Supply (NASDAQ:TSCO)

BOK Financial Private Wealth Inc. increased its position in shares of Tractor Supply (NASDAQ:TSCO) by 330.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,355 shares of the specialty retailer’s stock after buying an additional 16,391 shares during the period. BOK Financial Private Wealth Inc.’s holdings in Tractor Supply were worth $1,133,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TSCO. Blueshift Asset Management LLC boosted its holdings in Tractor Supply by 32.7% in the 3rd quarter. Blueshift Asset Management LLC now owns 9,945 shares of the specialty retailer’s stock valued at $2,893,000 after purchasing an additional 2,452 shares during the period. Mutual of America Capital Management LLC boosted its holdings in Tractor Supply by 16.5% in the 3rd quarter. Mutual of America Capital Management LLC now owns 27,336 shares of the specialty retailer’s stock valued at $7,953,000 after purchasing an additional 3,863 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Tractor Supply by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 631,406 shares of the specialty retailer’s stock valued at $183,695,000 after purchasing an additional 8,142 shares during the period. Metis Global Partners LLC boosted its holdings in Tractor Supply by 495.1% in the 4th quarter. Metis Global Partners LLC now owns 30,485 shares of the specialty retailer’s stock valued at $1,618,000 after purchasing an additional 25,362 shares during the period. Finally, TimesSquare Capital Management LLC boosted its holdings in Tractor Supply by 48.9% in the 3rd quarter. TimesSquare Capital Management LLC now owns 247,806 shares of the specialty retailer’s stock valued at $72,094,000 after purchasing an additional 81,341 shares during the period. 98.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TSCO shares. Barclays reduced their price target on shares of Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a report on Monday, December 30th. Mizuho increased their price objective on shares of Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Truist Financial dropped their price objective on shares of Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Wells Fargo & Company dropped their price objective on shares of Tractor Supply from $65.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Finally, Evercore ISI upgraded shares of Tractor Supply from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $59.22.

Tractor Supply Price Performance

NASDAQ TSCO opened at $56.89 on Friday. 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 12-month low of $48.30 and a 12-month high of $61.53. The company has a market capitalization of $30.38 billion, a PE ratio of 27.89, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. The firm’s 50 day moving average is $55.11 and its 200-day moving average is $55.75.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $2.28 by ($1.84). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. Equities research 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 disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th will be paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 6.47%. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date is Wednesday, February 26th. Tractor Supply’s dividend payout ratio is presently 45.10%.

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

Insiders Place Their Bets

In other news, SVP Matthew L. Rubin sold 3,850 shares of the 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 completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kurt D. Barton sold 12,146 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $56.00, for a total transaction of $680,176.00. Following the completion of the transaction, the chief financial officer now owns 47,715 shares of the company’s stock, valued at approximately $2,672,040. This trade represents a 20.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 137,993 shares of company stock worth $7,538,068 over the last ninety days. Corporate insiders own 0.24% of the company’s stock.

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.