Mitsubishi UFJ Trust & Banking Corp Buys 250,197 Shares of Tractor Supply (NASDAQ:TSCO)

Mitsubishi UFJ Trust & Banking Corp boosted its stake in Tractor Supply (NASDAQ:TSCO) by 388.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 314,545 shares of the specialty retailer’s stock after buying an additional 250,197 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Tractor Supply were worth $16,690,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Larson Financial Group LLC lifted its holdings in shares of Tractor Supply by 29.4% during the third quarter. Larson Financial Group LLC now owns 286 shares of the specialty retailer’s stock worth $83,000 after buying an additional 65 shares in the last quarter. Icon Wealth Advisors LLC acquired a new stake in Tractor Supply in the 3rd quarter worth about $111,000. Glen Eagle Advisors LLC boosted its holdings in Tractor Supply by 75.8% in the 3rd quarter. Glen Eagle Advisors LLC now owns 464 shares of the specialty retailer’s stock valued at $135,000 after purchasing an additional 200 shares during the period. Smithfield Trust Co grew its position in shares of Tractor Supply by 286.2% during the 4th quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 352 shares in the last quarter. Finally, Future Financial Wealth Managment LLC increased its holdings in shares of Tractor Supply by 400.0% during the fourth quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 400 shares during the period. 98.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on TSCO. Truist Financial reduced their price target on Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Barclays reduced their target price on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating on the stock in a report on Monday, December 30th. Loop Capital boosted their price target on Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, December 12th. Bank of America increased their price objective on shares of Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a research note on Thursday, January 16th. Finally, Guggenheim restated a “buy” rating and issued a $60.00 target price on shares of Tractor Supply in a research report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $59.22.

Tractor Supply Stock Performance

Tractor Supply stock opened at $53.47 on Friday. The business has a 50 day moving average of $55.03 and a 200-day moving average of $55.64. The company has a market capitalization of $28.55 billion, a P/E ratio of 26.21, a P/E/G 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. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share (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%. On average, equities research analysts predict that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were issued a dividend of $0.92 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 annualized dividend and a yield of 6.88%. Tractor Supply’s payout ratio is presently 45.10%.

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

Insider Buying and Selling at Tractor Supply

In related news, EVP Melissa Kersey sold 9,300 shares of Tractor Supply stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $53.17, for a total value of $494,481.00. Following the transaction, the executive vice president now directly owns 34,961 shares of the company’s stock, valued at $1,858,876.37. The trade was a 21.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 sale, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 137,993 shares of company stock worth $7,538,068. Insiders own 0.58% 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.