Tractor Supply (NASDAQ:TSCO) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 391.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,821,654 shares of the specialty retailer’s stock after purchasing an additional 8,617,869 shares during the quarter. JPMorgan Chase & Co.’s holdings in Tractor Supply were worth $574,197,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Smithfield Trust Co lifted its holdings 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 acquiring an additional 352 shares during the period. PrairieView Partners LLC increased its position in Tractor Supply by 400.0% during the fourth quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 400 shares during the last quarter. Future Financial Wealth Managment LLC increased its position in 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 last quarter. Archer Investment Corp raised its stake in Tractor Supply by 400.0% during the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 400 shares during the period. Finally, Kentucky Trust Co acquired a new position in shares of Tractor Supply in the 4th quarter valued at $27,000. 98.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TSCO has been the subject of a number of research analyst reports. Truist Financial dropped their price objective on Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a report on Friday, January 31st. JPMorgan Chase & Co. raised their price objective on Tractor Supply from $58.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Mizuho increased 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. Bank of America lifted their price target on shares of Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a research report on Thursday, January 16th. Finally, Loop Capital raised their target price on shares of Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, December 12th. Two equities 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $59.22.

Tractor Supply Stock Performance

TSCO stock opened at $53.47 on Friday. The stock’s 50 day simple moving average is $55.03 and its 200 day simple moving average is $55.64. Tractor Supply has a 12-month low of $48.30 and a 12-month high of $61.53. The firm has a market cap 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. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82.

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

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 given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 6.88%. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. Tractor Supply’s dividend payout ratio is presently 45.10%.

Tractor Supply declared that its Board of Directors has initiated a share buyback program on Thursday, February 13th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the specialty retailer to buy up to 3.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.

Insider Activity at Tractor Supply

In other Tractor Supply news, CFO Kurt D. Barton sold 12,146 shares of the business’s stock in a transaction dated 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 directly owns 47,715 shares of the company’s stock, valued at $2,672,040. The trade was a 20.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Matthew L. Rubin sold 3,850 shares of the firm’s 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 sale, the senior vice president now 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 sold 137,993 shares of company stock worth $7,538,068 in the last 90 days. 0.58% of the stock is currently owned by company insiders.

Tractor Supply 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.