Skandinaviska Enskilda Banken AB publ Boosts Stock Position in Tractor Supply (NASDAQ:TSCO)

Skandinaviska Enskilda Banken AB publ raised its stake in shares of Tractor Supply (NASDAQ:TSCO) by 400.0% in the 4th quarter, Holdings Channel reports. The fund owned 114,745 shares of the specialty retailer’s stock after acquiring an additional 91,796 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Tractor Supply were worth $6,031,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Baldwin Investment Management LLC raised its stake in Tractor Supply by 0.3% during the 3rd quarter. Baldwin Investment Management LLC now owns 11,402 shares of the specialty retailer’s stock valued at $3,317,000 after acquiring an additional 38 shares during the last quarter. Huntington National Bank increased its position in Tractor Supply by 0.7% during the 3rd quarter. Huntington National Bank now owns 5,538 shares of the specialty retailer’s stock worth $1,611,000 after purchasing an additional 41 shares during the period. First Horizon Advisors Inc. increased its position in Tractor Supply by 13.2% during the 3rd quarter. First Horizon Advisors Inc. now owns 351 shares of the specialty retailer’s stock worth $102,000 after purchasing an additional 41 shares during the period. Harbour Investments Inc. increased its position in Tractor Supply by 4.6% during the 3rd quarter. Harbour Investments Inc. now owns 958 shares of the specialty retailer’s stock worth $279,000 after purchasing an additional 42 shares during the period. Finally, Cynosure Group LLC boosted its stake in shares of Tractor Supply by 2.8% during the 3rd quarter. Cynosure Group LLC now owns 1,529 shares of the specialty retailer’s stock worth $445,000 after acquiring an additional 42 shares in the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TSCO shares. Mizuho boosted their price target on Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Truist Financial decreased their price target on Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. JPMorgan Chase & Co. boosted their price target on Tractor Supply from $58.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Telsey Advisory Group reissued an “outperform” rating and set a $67.00 price target on shares of Tractor Supply in a research note on Thursday, January 30th. Finally, Guggenheim reissued a “buy” rating and set a $60.00 price target on shares of Tractor Supply in a research note on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tractor Supply presently has an average rating of “Moderate Buy” and an average target price of $59.22.

Tractor Supply Trading Up 0.3 %

NASDAQ TSCO opened at $51.83 on Friday. Tractor Supply has a 12 month low of $48.30 and a 12 month high of $61.53. The company has a 50-day moving average of $55.19 and a 200-day moving average of $55.73. 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 $27.68 billion, a P/E ratio of 25.41, a P/E/G ratio of 2.95 and a beta of 0.85.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 EPS for the quarter, missing analysts’ consensus estimates 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 predict that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply Increases Dividend

The company also recently announced 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. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 7.10%. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s payout ratio is presently 45.10%.

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

Insider Transactions at Tractor Supply

In related news, CEO Harry A. Lawton III sold 88,095 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $54.59, for a total transaction of $4,809,106.05. Following the transaction, the chief executive officer now directly owns 488,852 shares of the company’s stock, valued at approximately $26,686,430.68. The trade was a 15.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Melissa Kersey sold 9,300 shares of the business’s 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 in the company, valued at $1,858,876.37. This trade represents a 21.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 137,993 shares of company stock worth $7,538,068. 0.24% 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.