Elo Mutual Pension Insurance Co Makes New $2.96 Million Investment in Tractor Supply (NASDAQ:TSCO)

Elo Mutual Pension Insurance Co acquired a new stake in shares of Tractor Supply (NASDAQ:TSCO) in the fourth quarter, Holdings Channel.com reports. The firm acquired 55,715 shares of the specialty retailer’s stock, valued at approximately $2,956,000.

Several other hedge funds have also made changes to their positions in TSCO. Larson Financial Group LLC lifted its position in Tractor Supply by 29.4% in the third quarter. Larson Financial Group LLC now owns 286 shares of the specialty retailer’s stock worth $83,000 after purchasing an additional 65 shares during the period. Pine Valley Investments Ltd Liability Co raised its stake in shares of Tractor Supply by 7.1% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 978 shares of the specialty retailer’s stock valued at $285,000 after buying an additional 65 shares in the last quarter. Synergy Financial Group LTD lifted its holdings in shares of Tractor Supply by 12.4% during the 3rd quarter. Synergy Financial Group LTD now owns 1,090 shares of the specialty retailer’s stock worth $317,000 after acquiring an additional 120 shares during the period. Rockefeller Capital Management L.P. boosted its position in shares of 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 valued at $8,058,000 after acquiring an additional 141 shares in the last quarter. Finally, Fiduciary Trust Co increased its stake in Tractor Supply by 1.6% in the third quarter. Fiduciary Trust Co now owns 12,110 shares of the specialty retailer’s stock valued at $3,523,000 after acquiring an additional 191 shares during the period. Institutional investors own 98.72% of the company’s stock.

Tractor Supply Stock Performance

NASDAQ TSCO opened at $53.47 on Friday. The company has a 50-day simple moving average of $55.03 and a two-hundred day simple moving average of $55.64. Tractor Supply has a 12-month low of $48.30 and a 12-month high of $61.53. The firm has a market cap of $28.55 billion, a price-to-earnings ratio of 26.21, a PEG ratio of 2.95 and a beta of 0.85. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82.

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 net margin of 7.40% and a return on equity of 49.01%. On average, equities analysts forecast that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were given a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 6.88%. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, February 26th. Tractor Supply’s dividend payout ratio (DPR) is currently 45.10%.

Tractor Supply declared that its Board of Directors has authorized a share buyback program on Thursday, February 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the specialty retailer to reacquire up to 3.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TSCO. Barclays lowered their price objective on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Monday, December 30th. Loop Capital increased their price objective on Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a research note on Thursday, December 12th. Truist Financial reduced their target price on shares of Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Telsey Advisory Group reiterated an “outperform” rating and set a $67.00 target price on shares of Tractor Supply in a research report on Thursday, January 30th. Finally, Mizuho boosted their price target on shares of Tractor Supply from $60.00 to $62.00 and gave the company 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 given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Tractor Supply has an average rating of “Moderate Buy” and a consensus target price of $59.22.

Insider Activity

In other Tractor Supply news, CEO Harry A. Lawton III sold 88,095 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 488,852 shares of the company’s stock, valued at approximately $26,686,430.68. This trade represents a 15.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Colin Yankee sold 24,602 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $54.15, for a total transaction of $1,332,198.30. Following the sale, the executive vice president now directly owns 33,645 shares in the company, valued at $1,821,876.75. The trade was a 42.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 137,993 shares of company stock valued at $7,538,068. Corporate insiders own 0.58% of the company’s stock.

Tractor Supply Company 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.