Tractor Supply (NASDAQ:TSCO) Position Boosted by Mizuho Securities USA LLC

Mizuho Securities USA LLC lifted its stake in shares of Tractor Supply (NASDAQ:TSCO) by 623.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 50,632 shares of the specialty retailer’s stock after buying an additional 43,637 shares during the quarter. Mizuho Securities USA LLC’s holdings in Tractor Supply were worth $2,687,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Meridian Wealth Management LLC bought a new stake in shares of Tractor Supply in the 3rd quarter valued at approximately $558,000. Larson Financial Group LLC increased its stake in Tractor Supply by 29.4% during the third quarter. Larson Financial Group LLC now owns 286 shares of the specialty retailer’s stock valued at $83,000 after purchasing an additional 65 shares during the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of Tractor Supply by 1.7% during the third quarter. Westfield Capital Management Co. LP now owns 29,583 shares of the specialty retailer’s stock worth $8,607,000 after purchasing an additional 506 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of Tractor Supply by 8.0% during the third quarter. Daiwa Securities Group Inc. now owns 17,726 shares of the specialty retailer’s stock worth $5,157,000 after purchasing an additional 1,316 shares during the period. Finally, Loomis Sayles & Co. L P lifted its position in shares of Tractor Supply by 0.4% in the 3rd quarter. Loomis Sayles & Co. L P now owns 46,930 shares of the specialty retailer’s stock worth $13,653,000 after buying an additional 177 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Tractor Supply Trading Up 2.0 %

Shares of TSCO stock opened at $53.53 on Tuesday. The stock has a 50-day simple moving average of $55.01 and a 200 day simple moving average of $55.68. The stock has a market capitalization of $28.59 billion, a P/E ratio of 26.24, a P/E/G ratio of 2.95 and a beta of 0.85. Tractor Supply has a fifty-two week low of $48.30 and a fifty-two week high of $61.53. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings data 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 return on equity of 49.01% and a net margin of 7.40%. On average, sell-side analysts expect that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

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 repurchase up to 3.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Tractor Supply Increases Dividend

The business also recently disclosed 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 6.87%. 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. Tractor Supply’s dividend payout ratio is 45.10%.

Insider Transactions at Tractor Supply

In other news, CEO Harry A. Lawton III sold 88,095 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 488,852 shares of the company’s stock, valued at $26,686,430.68. This represents a 15.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction, the senior vice president now directly owns 31,787 shares in the company, valued at $1,833,792.03. This represents a 10.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 137,993 shares of company stock valued at $7,538,068 in the last three months. 0.24% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

TSCO has been the topic of several research reports. Truist Financial dropped their price objective on shares of Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Guggenheim reissued a “buy” rating and issued a $60.00 price target on shares of Tractor Supply in a report on Friday, January 31st. Wells Fargo & Company lowered their price objective on Tractor Supply from $65.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. JPMorgan Chase & Co. raised their target price on Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Finally, Telsey Advisory Group restated an “outperform” rating and set a $67.00 price target on shares of Tractor Supply in a research report on Thursday, January 30th. Two 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $59.22.

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.