Dorsey & Whitney Trust CO LLC Purchases 3,262 Shares of Tractor Supply (NASDAQ:TSCO)

Dorsey & Whitney Trust CO LLC boosted its position in Tractor Supply (NASDAQ:TSCO) by 276.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,440 shares of the specialty retailer’s stock after purchasing an additional 3,262 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Tractor Supply were worth $236,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Blueshift Asset Management LLC grew its position 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 worth $2,893,000 after purchasing an additional 2,452 shares in the last quarter. Mutual of America Capital Management LLC grew its position 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 worth $7,953,000 after purchasing an additional 3,863 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position 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 worth $183,695,000 after purchasing an additional 8,142 shares in the last quarter. Metis Global Partners LLC grew its position 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 worth $1,618,000 after purchasing an additional 25,362 shares in the last quarter. Finally, Welch & Forbes LLC grew its position in Tractor Supply by 391.4% in the 4th quarter. Welch & Forbes LLC now owns 484,922 shares of the specialty retailer’s stock worth $25,730,000 after purchasing an additional 386,233 shares in the last quarter. 98.72% of the stock is owned by institutional investors.

Tractor Supply Stock Performance

Tractor Supply stock opened at $53.92 on Wednesday. The firm’s 50 day simple moving average is $55.22 and its 200 day simple moving average is $55.79. 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 firm has a market capitalization of $28.79 billion, a PE ratio of 26.43, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. Tractor Supply has a 1-year low of $48.30 and a 1-year high of $61.53.

Tractor Supply (NASDAQ:TSCO) last posted its earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share 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%. As a group, analysts expect that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply announced that its board has authorized a stock repurchase program on Thursday, February 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the specialty retailer to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders 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. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 6.82%. Tractor Supply’s dividend payout ratio is presently 45.10%.

Insider Transactions at Tractor Supply

In other news, 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 transaction, the chief executive officer now owns 488,852 shares of the company’s stock, valued at $26,686,430.68. This represents a 15.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Matthew L. Rubin sold 3,850 shares of the 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 completion of the transaction, the senior vice president now directly owns 31,787 shares in the company, valued at $1,833,792.03. The trade was a 10.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 137,993 shares of company stock valued at $7,538,068 in the last quarter. Insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TSCO shares. Truist Financial dropped their target price on shares of Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Barclays dropped their target price on shares of Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Monday, December 30th. Wells Fargo & Company dropped their target price on shares of Tractor Supply from $65.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Evercore ISI upgraded shares of Tractor Supply from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 15th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $67.00 target price on shares of Tractor Supply in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.