Prudential Financial Inc. Has $14.64 Million Stake in Tractor Supply (NASDAQ:TSCO)

Prudential Financial Inc. grew its holdings in Tractor Supply (NASDAQ:TSCO) by 319.1% during the 4th quarter, HoldingsChannel reports. The firm owned 275,850 shares of the specialty retailer’s stock after acquiring an additional 210,036 shares during the quarter. Prudential Financial Inc.’s holdings in Tractor Supply were worth $14,637,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Providence Capital Advisors LLC acquired a new stake in Tractor Supply in the 3rd quarter valued at approximately $32,000. Larson Financial Group LLC boosted its position in shares of Tractor Supply by 29.4% in the third quarter. Larson Financial Group LLC now owns 286 shares of the specialty retailer’s stock valued at $83,000 after acquiring an additional 65 shares during the period. Icon Wealth Advisors LLC acquired a new stake in shares of Tractor Supply in the third quarter worth $111,000. Glen Eagle Advisors LLC increased its position in Tractor Supply by 75.8% during the third quarter. Glen Eagle Advisors LLC now owns 464 shares of the specialty retailer’s stock worth $135,000 after acquiring an additional 200 shares during the period. Finally, Smithfield Trust Co raised its stake in Tractor Supply by 286.2% during the 4th quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 352 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors.

Tractor Supply Trading Up 0.5 %

Shares of TSCO opened at $54.16 on Friday. 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 company has a market cap of $28.92 billion, a price-to-earnings ratio of 26.55, a PEG ratio of 2.95 and a beta of 0.85. The stock has a fifty day moving average price of $55.03 and a two-hundred day moving average price of $55.65. Tractor Supply has a 52-week low of $48.30 and a 52-week high of $61.53.

Tractor Supply (NASDAQ:TSCO) last released 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 net margin of 7.40% and a return on equity of 49.01%. Analysts predict that Tractor Supply will post 2.17 EPS for the current fiscal 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 paid 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 6.79%. The ex-dividend date was Wednesday, February 26th. Tractor Supply’s dividend payout ratio is 45.10%.

Tractor Supply announced that its Board of Directors has approved a stock repurchase 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 generally an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have issued reports on TSCO. Bank of America raised their price target on shares of Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a research report on Thursday, January 16th. Loop Capital boosted their price target on Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, December 12th. 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 report on Friday, January 31st. Guggenheim restated a “buy” rating and set a $60.00 price objective on shares of Tractor Supply in a research report on Friday, January 31st. Finally, 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. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tractor Supply has an average rating of “Moderate Buy” and a consensus price target of $59.22.

Insider Activity at Tractor Supply

In other Tractor Supply news, EVP Colin Yankee sold 24,602 shares of the 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 in the company, valued at approximately $1,821,876.75. This trade represents a 42.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Harry A. Lawton III sold 88,095 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $54.59, for a total value of $4,809,106.05. Following the sale, the chief executive officer now 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 disclosure for this sale can be found here. Insiders sold a total of 137,993 shares of company stock valued at $7,538,068 over the last quarter. Corporate insiders own 0.58% of the company’s stock.

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.