Mitsubishi UFJ Asset Management Co. Ltd. Has $43.74 Million Stock Position in Tractor Supply (NASDAQ:TSCO)

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Tractor Supply (NASDAQ:TSCO) by 428.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 842,271 shares of the specialty retailer’s stock after acquiring an additional 682,963 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Tractor Supply were worth $43,739,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. BOK Financial Private Wealth Inc. boosted its stake in Tractor Supply by 330.2% in the 4th quarter. BOK Financial Private Wealth Inc. now owns 21,355 shares of the specialty retailer’s stock valued at $1,133,000 after purchasing an additional 16,391 shares during the period. Blueshift Asset Management LLC lifted its holdings in shares of Tractor Supply by 571.8% during the fourth quarter. Blueshift Asset Management LLC now owns 66,815 shares of the specialty retailer’s stock worth $3,545,000 after buying an additional 56,870 shares in the last quarter. Callan Family Office LLC bought a new stake in shares of Tractor Supply in the fourth quarter valued at about $503,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Tractor Supply by 379.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 890,898 shares of the specialty retailer’s stock valued at $47,271,000 after acquiring an additional 704,896 shares in the last quarter. Finally, Citizens Financial Group Inc. RI increased its position in Tractor Supply by 368.7% during the fourth quarter. Citizens Financial Group Inc. RI now owns 7,485 shares of the specialty retailer’s stock worth $397,000 after acquiring an additional 5,888 shares during the period. Institutional investors own 98.72% of the company’s stock.

Insider Activity

In related news, SVP Matthew L. Rubin sold 3,850 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total value of $222,106.50. Following the sale, the senior vice president now owns 31,787 shares of the company’s stock, valued at $1,833,792.03. The trade was 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, EVP Colin Yankee sold 24,602 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $54.15, for a total value of $1,332,198.30. Following the transaction, the executive vice president now directly owns 33,645 shares of the company’s stock, valued at approximately $1,821,876.75. This represents a 42.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,993 shares of company stock valued at $7,538,068 over the last quarter. 0.58% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TSCO has been the subject of a number of recent research reports. Mizuho boosted their price objective on shares of Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Telsey Advisory Group reiterated an “outperform” rating and issued a $67.00 price target on shares of Tractor Supply in a research note on Thursday, January 30th. 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 research note on Friday, January 31st. Barclays cut their target price on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a research report on Monday, December 30th. Finally, Guggenheim restated a “buy” rating and issued a $60.00 price target on shares of Tractor Supply in a research report on Friday, January 31st. Two equities research 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.22.

Tractor Supply Price Performance

Shares of NASDAQ:TSCO opened at $53.47 on Friday. Tractor Supply has a one year low of $48.30 and a one 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. The company has a market cap of $28.55 billion, a price-to-earnings ratio of 26.21, a PEG ratio of 2.95 and a beta of 0.85. The firm has a 50 day simple moving average of $55.03 and a 200 day simple moving average of $55.65.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share 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%. Research analysts predict 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 buyback program on Thursday, February 13th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the specialty retailer to repurchase up to 3.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Tractor Supply Increases Dividend

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

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.