Generali Asset Management SPA SGR Takes $2.16 Million Position in Tractor Supply (NASDAQ:TSCO)

Generali Asset Management SPA SGR acquired a new stake in Tractor Supply (NASDAQ:TSCO) in the 4th quarter, Holdings Channel reports. The firm acquired 40,715 shares of the specialty retailer’s stock, valued at approximately $2,160,000.

Several other hedge funds also recently modified their holdings of the business. Horizon Investments LLC boosted its position in shares of Tractor Supply by 423.2% in the fourth quarter. Horizon Investments LLC now owns 9,418 shares of the specialty retailer’s stock valued at $500,000 after acquiring an additional 7,618 shares during the period. Advisors Asset Management Inc. lifted its position in Tractor Supply by 381.6% in the fourth quarter. Advisors Asset Management Inc. now owns 195,225 shares of the specialty retailer’s stock worth $10,359,000 after purchasing an additional 154,688 shares during the period. Long Road Investment Counsel LLC lifted its position in Tractor Supply by 400.0% in the fourth quarter. Long Road Investment Counsel LLC now owns 12,000 shares of the specialty retailer’s stock worth $637,000 after purchasing an additional 9,600 shares during the period. Thrivent Financial for Lutherans lifted its position in Tractor Supply by 439.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 137,283 shares of the specialty retailer’s stock worth $7,284,000 after purchasing an additional 111,829 shares during the period. Finally, Axxcess Wealth Management LLC lifted its position in Tractor Supply by 345.1% in the fourth quarter. Axxcess Wealth Management LLC now owns 37,040 shares of the specialty retailer’s stock worth $1,965,000 after purchasing an additional 28,718 shares during the period. 98.72% of the stock is owned by institutional investors.

Tractor Supply Stock Performance

Shares of NASDAQ:TSCO opened at $52.80 on Thursday. Tractor Supply has a twelve month low of $48.30 and a twelve month high of $61.53. The firm has a market cap of $28.20 billion, a PE ratio of 25.88, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. The business has a fifty day moving average of $55.12 and a 200-day moving average of $55.70.

Tractor Supply (NASDAQ:TSCO) last announced 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 return on equity of 49.01% and a net margin of 7.40%. On average, equities research analysts predict that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 6.97%. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. Tractor Supply’s dividend payout ratio (DPR) is presently 45.10%.

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

Analysts Set New Price Targets

Several brokerages recently commented on TSCO. Guggenheim reaffirmed a “buy” rating and issued a $60.00 target price on shares of Tractor Supply in a research report on Friday, January 31st. Loop Capital raised their target price on Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a research report on Thursday, December 12th. Mizuho raised their target price on Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Wells Fargo & Company reduced their target price on Tractor Supply from $65.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Finally, Truist Financial reduced their target price on Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.22.

Insider Buying and Selling

In related news, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $57.69, for a total value of $222,106.50. Following the completion of the sale, the senior vice president now directly owns 31,787 shares in the company, valued at $1,833,792.03. This trade represents a 10.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kurt D. Barton sold 12,146 shares of Tractor Supply stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $56.00, for a total value of $680,176.00. Following the completion of the sale, the chief financial officer now owns 47,715 shares of the company’s stock, valued at approximately $2,672,040. The trade was a 20.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 137,993 shares of company stock worth $7,538,068 over the last three months. 0.24% of the stock is currently owned by company insiders.

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.