United Services Automobile Association Acquires New Position in Tractor Supply (NASDAQ:TSCO)

United Services Automobile Association bought a new position in Tractor Supply (NASDAQ:TSCO) in the 4th quarter, HoldingsChannel.com reports. The fund bought 12,915 shares of the specialty retailer’s stock, valued at approximately $685,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. BOK Financial Private Wealth Inc. increased its holdings in shares of 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 worth $1,133,000 after buying an additional 16,391 shares during the period. Blueshift Asset Management LLC grew its position in 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 acquiring an additional 2,452 shares during the last quarter. Callan Family Office LLC purchased a new position in Tractor Supply in the 4th quarter worth approximately $503,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Tractor Supply by 379.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 890,898 shares of the specialty retailer’s stock valued at $47,271,000 after purchasing an additional 704,896 shares during the period. Finally, Citizens Financial Group Inc. RI grew its holdings in shares of Tractor Supply by 368.7% in the fourth 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 last quarter. 98.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Barclays dropped their target price 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. Wells Fargo & Company reduced their target price on Tractor Supply from $65.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Loop Capital lifted their price target 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. Guggenheim reissued a “buy” rating and set a $60.00 price objective on shares of Tractor Supply in a research report on Friday, January 31st. Finally, Mizuho raised their target price 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. Two analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.22.

Insider Activity at Tractor Supply

In other news, SVP Matthew L. Rubin sold 3,850 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $57.69, for a total transaction of $222,106.50. Following the transaction, the senior vice president now directly owns 31,787 shares of the company’s stock, valued at $1,833,792.03. This represents a 10.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Harry A. Lawton III sold 88,095 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $54.59, for a total value of $4,809,106.05. Following the sale, the chief executive officer now directly owns 488,852 shares in the company, valued at $26,686,430.68. This trade represents a 15.27 % 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. 0.24% of the stock is owned by corporate insiders.

Tractor Supply Trading Up 2.0 %

NASDAQ TSCO opened at $53.53 on Tuesday. The stock’s fifty day moving average price is $55.01 and its 200-day moving average price is $55.68. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. The stock has a market cap of $28.59 billion, a P/E ratio of 26.24, a P/E/G ratio of 2.95 and a beta of 0.85. Tractor Supply has a 12 month low of $48.30 and a 12 month high of $61.53.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings data 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%. As a group, equities analysts forecast that Tractor Supply will post 2.17 EPS for the current fiscal 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 issued a $0.92 dividend. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 dividend on an annualized basis and a yield of 6.87%. The ex-dividend date was Wednesday, February 26th. Tractor Supply’s payout ratio is presently 45.10%.

Tractor Supply declared that its board has authorized a stock repurchase plan on Thursday, February 13th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the specialty retailer to repurchase up to 3.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.

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.