Panagora Asset Management Inc. Purchases 3,539 Shares of Tractor Supply (NASDAQ:TSCO)

Panagora Asset Management Inc. grew its position in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 147.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,932 shares of the specialty retailer's stock after purchasing an additional 3,539 shares during the period. Panagora Asset Management Inc.'s holdings in Tractor Supply were worth $1,276,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in TSCO. Wellington Management Group LLP boosted its stake in Tractor Supply by 9,370.6% in the third quarter. Wellington Management Group LLP now owns 2,822,151 shares of the specialty retailer's stock valued at $573,038,000 after acquiring an additional 2,792,352 shares in the last quarter. Invesco Ltd. increased its stake in shares of Tractor Supply by 76.7% during the 3rd quarter. Invesco Ltd. now owns 2,024,182 shares of the specialty retailer's stock worth $411,010,000 after purchasing an additional 878,874 shares in the last quarter. Alecta Tjanstepension Omsesidigt increased its stake in shares of Tractor Supply by 87.5% during the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 750,000 shares of the specialty retailer's stock worth $161,272,000 after purchasing an additional 350,000 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Tractor Supply by 32,987.5% during the 4th quarter. International Assets Investment Management LLC now owns 270,325 shares of the specialty retailer's stock worth $58,128,000 after purchasing an additional 269,508 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in Tractor Supply by 22.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,148,340 shares of the specialty retailer's stock worth $233,170,000 after acquiring an additional 210,131 shares during the period. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Mizuho reaffirmed a "neutral" rating and issued a $250.00 target price (up from $245.00) on shares of Tractor Supply in a research note on Friday, April 26th. Morgan Stanley lifted their price target on shares of Tractor Supply from $195.00 to $235.00 and gave the company an "underweight" rating in a report on Friday, April 26th. Robert W. Baird lifted their price target on shares of Tractor Supply from $260.00 to $285.00 and gave the company an "outperform" rating in a report on Friday, April 26th. Wedbush reiterated a "neutral" rating and issued a $235.00 price target on shares of Tractor Supply in a report on Tuesday, April 23rd. Finally, Piper Sandler lifted their price target on shares of Tractor Supply from $265.00 to $300.00 and gave the company an "overweight" rating in a report on Monday, April 29th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $253.96.

Insiders Place Their Bets

In related news, CFO Kurt D. Barton sold 4,335 shares of the company's stock in a transaction on Friday, March 15th. The shares were sold at an average price of $257.00, for a total transaction of $1,114,095.00. Following the completion of the sale, the chief financial officer now directly owns 20,678 shares of the company's stock, valued at approximately $5,314,246. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Kurt D. Barton sold 4,335 shares of Tractor Supply stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $257.00, for a total transaction of $1,114,095.00. Following the completion of the transaction, the chief financial officer now directly owns 20,678 shares of the company's stock, valued at approximately $5,314,246. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Colin Yankee sold 8,675 shares of Tractor Supply stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $250.00, for a total transaction of $2,168,750.00. Following the transaction, the executive vice president now directly owns 9,673 shares of the company's stock, valued at $2,418,250. The disclosure for this sale can be found here. Insiders own 0.24% of the company's stock.

Tractor Supply Price Performance

Shares of NASDAQ:TSCO traded up $0.50 during trading on Thursday, reaching $283.26. The company had a trading volume of 910,937 shares, compared to its average volume of 1,144,682. Tractor Supply has a twelve month low of $185.00 and a twelve month high of $287.89. The firm has a market capitalization of $30.54 billion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 3.72 and a beta of 0.82. The firm's fifty day moving average is $262.93 and its 200 day moving average is $236.74. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.19 and a current ratio of 1.40.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.70 by $0.13. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The business had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same quarter in the previous year, the business earned $1.65 earnings per share. The firm's revenue was up 2.8% compared to the same quarter last year. On average, equities analysts forecast that Tractor Supply will post 10.33 EPS for the current year.

Tractor Supply Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 28th will be paid a $1.10 dividend. The ex-dividend date is Friday, May 24th. This represents a $4.40 annualized dividend and a yield of 1.55%. Tractor Supply's dividend payout ratio is presently 42.84%.

About Tractor Supply

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.