Pictet Asset Management Holding SA Purchases 303,421 Shares of Tractor Supply (NASDAQ:TSCO)

Pictet Asset Management Holding SA lifted its position in shares of Tractor Supply (NASDAQ:TSCO) by 472.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 367,606 shares of the specialty retailer’s stock after purchasing an additional 303,421 shares during the period. Pictet Asset Management Holding SA’s holdings in Tractor Supply were worth $19,505,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in TSCO. FMR LLC raised its stake in shares of Tractor Supply by 7.6% during the third quarter. FMR LLC now owns 163,454 shares of the specialty retailer’s stock valued at $47,554,000 after acquiring an additional 11,584 shares during the last quarter. Financial Counselors Inc. acquired a new stake in Tractor Supply in the third quarter valued at $277,000. Public Sector Pension Investment Board raised its position in Tractor Supply by 12.0% during the 3rd quarter. Public Sector Pension Investment Board now owns 4,664 shares of the specialty retailer’s stock worth $1,357,000 after purchasing an additional 500 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in Tractor Supply by 0.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 27,710 shares of the specialty retailer’s stock worth $8,058,000 after buying an additional 141 shares during the period. Finally, Icon Wealth Advisors LLC bought a new stake in shares of Tractor Supply in the 3rd quarter valued at about $111,000. Institutional investors and hedge funds own 98.72% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on TSCO shares. Truist Financial lowered their price objective 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. Telsey Advisory Group restated an “outperform” rating and set a $67.00 price target on shares of Tractor Supply in a report on Thursday, January 30th. Guggenheim reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Tractor Supply in a research note on Friday, January 31st. Loop Capital lifted their target price on shares of Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. upped their price target on shares of Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating 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 issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $59.22.

Tractor Supply Stock Up 3.0 %

TSCO stock opened at $55.10 on Tuesday. The stock has a market cap of $29.42 billion, a P/E ratio of 27.01, a P/E/G ratio of 2.95 and a beta of 0.85. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. The stock’s fifty day simple moving average is $55.06 and its two-hundred day simple moving average is $55.65. Tractor Supply has a 1-year low of $48.30 and a 1-year high of $61.53.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings results 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%. Analysts expect that Tractor Supply will post 2.17 EPS for the current year.

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 paid a dividend of $0.92 per share. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $3.68 annualized dividend and a dividend yield of 6.68%. Tractor Supply’s dividend payout ratio is presently 45.10%.

Tractor Supply announced that its board has initiated a stock buyback plan 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 shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, CEO Harry A. Lawton III sold 88,095 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 488,852 shares of the company’s stock, valued at approximately $26,686,430.68. This represents a 15.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Matthew L. Rubin sold 3,850 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $57.69, for a total transaction 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 approximately $1,833,792.03. The trade was a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 137,993 shares of company stock valued at $7,538,068. 0.24% of the stock is owned by 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.