DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Raises Stake in Tractor Supply (NASDAQ:TSCO)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 400.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,845 shares of the specialty retailer's stock after buying an additional 15,876 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main's holdings in Tractor Supply were worth $1,053,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Dunhill Financial LLC grew its position in Tractor Supply by 325.8% during the fourth quarter. Dunhill Financial LLC now owns 511 shares of the specialty retailer's stock worth $27,000 after buying an additional 391 shares in the last quarter. EPG Wealth Management LLC grew its position in Tractor Supply by 400.0% during the fourth quarter. EPG Wealth Management LLC now owns 4,670 shares of the specialty retailer's stock worth $248,000 after buying an additional 3,736 shares in the last quarter. Colonial Trust Co SC grew its position in Tractor Supply by 415.8% during the fourth quarter. Colonial Trust Co SC now owns 2,311 shares of the specialty retailer's stock worth $123,000 after buying an additional 1,863 shares in the last quarter. CoreCap Advisors LLC grew its position in Tractor Supply by 399.7% during the fourth quarter. CoreCap Advisors LLC now owns 45,553 shares of the specialty retailer's stock worth $2,417,000 after buying an additional 36,437 shares in the last quarter. Finally, Cresset Asset Management LLC grew its position in Tractor Supply by 61.8% during the fourth quarter. Cresset Asset Management LLC now owns 14,996 shares of the specialty retailer's stock worth $796,000 after buying an additional 5,725 shares in the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TSCO shares. Telsey Advisory Group set a $60.00 target price on Tractor Supply in a research report on Friday, April 25th. Truist Financial cut their price target on shares of Tractor Supply from $63.00 to $60.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Guggenheim cut their price target on shares of Tractor Supply from $60.00 to $55.00 and set a "buy" rating for the company in a research note on Friday, April 25th. JPMorgan Chase & Co. cut their price target on shares of Tractor Supply from $59.00 to $56.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Finally, Raymond James cut their price target on shares of Tractor Supply from $61.00 to $57.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $58.02.

Insider Activity at Tractor Supply

In related news, SVP Matthew L. Rubin sold 2,810 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $51.76, for a total transaction of $145,445.60. Following the sale, the senior vice president now directly owns 29,722 shares in the company, valued at approximately $1,538,410.72. This represents a 8.64% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.65% of the stock is currently owned by corporate insiders.

Tractor Supply Stock Up 1.6%

Shares of NASDAQ TSCO traded up $0.82 during mid-day trading on Friday, reaching $52.99. 5,247,049 shares of the company's stock traded hands, compared to its average volume of 5,158,927. The stock has a market cap of $28.10 billion, a P/E ratio of 25.98, a PEG ratio of 2.95 and a beta of 0.82. The business has a 50-day simple moving average of $51.64 and a 200 day simple moving average of $54.08. Tractor Supply has a 1-year low of $46.85 and a 1-year high of $61.53. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. The firm had revenue of $3.47 billion for the quarter, compared to analysts' expectations of $3.55 billion. During the same quarter last year, the firm posted $1.83 earnings per share. The firm's revenue for the quarter was up 2.1% compared to the same quarter last year. On average, analysts expect that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Wednesday, May 28th. Tractor Supply's payout ratio is currently 45.77%.

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

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.