Nissay Asset Management Corp Japan ADV Acquires 52,990 Shares of Tractor Supply (NASDAQ:TSCO)

Nissay Asset Management Corp Japan ADV boosted its holdings in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 398.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,275 shares of the specialty retailer's stock after acquiring an additional 52,990 shares during the quarter. Nissay Asset Management Corp Japan ADV's holdings in Tractor Supply were worth $3,616,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TSCO. Coppell Advisory Solutions LLC lifted its position in shares of Tractor Supply by 944.4% during the 4th quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer's stock valued at $25,000 after acquiring an additional 425 shares during the period. Smithfield Trust Co raised its holdings in Tractor Supply by 286.2% during the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock worth $25,000 after buying an additional 352 shares during the last quarter. Archer Investment Corp raised its holdings in Tractor Supply by 400.0% during the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock worth $27,000 after buying an additional 400 shares during the last quarter. PrairieView Partners LLC raised its holdings in Tractor Supply by 400.0% during the fourth quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer's stock worth $26,000 after buying an additional 400 shares during the last quarter. Finally, Kentucky Trust Co acquired a new position in Tractor Supply during the fourth quarter worth $27,000. Institutional investors and hedge funds own 98.72% of the company's stock.

Insider Buying and Selling at Tractor Supply

In other news, SVP Matthew L. Rubin sold 3,850 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total value of $222,106.50. Following the transaction, the senior vice president now owns 31,787 shares in the company, valued at approximately $1,833,792.03. This trade represents a 10.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.65% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on TSCO. JPMorgan Chase & Co. reduced their target price 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. UBS Group set a $54.00 target price on shares of Tractor Supply in a research note on Friday, April 25th. Telsey Advisory Group set a $60.00 target price on shares of Tractor Supply in a research note on Friday, April 25th. Citigroup reduced their target price on shares of Tractor Supply from $59.00 to $51.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Finally, Robert W. Baird reduced their target price on shares of Tractor Supply from $63.00 to $56.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $58.02.

Tractor Supply Price Performance

TSCO traded down $1.31 on Tuesday, reaching $51.60. The company had a trading volume of 4,912,277 shares, compared to its average volume of 5,155,812. Tractor Supply has a 52-week low of $46.85 and a 52-week high of $61.53. 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 business has a 50 day simple moving average of $51.65 and a 200 day simple moving average of $54.08. The company has a market cap of $27.36 billion, a price-to-earnings ratio of 25.29, a P/E/G ratio of 2.95 and a beta of 0.82.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The specialty retailer reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.03). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. The business had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter in the previous year, the business earned $1.83 earnings per share. The firm's revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply announced that its board has authorized a stock repurchase plan on Thursday, February 13th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the specialty retailer to buy up to 3.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

Tractor Supply Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Wednesday, May 28th. Tractor Supply's payout ratio is currently 45.77%.

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.