Norges Bank Takes $260.56 Million Position in Tractor Supply (NASDAQ:TSCO)

Norges Bank bought a new position in shares of Tractor Supply (NASDAQ:TSCO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,211,738 shares of the specialty retailer’s stock, valued at approximately $260,560,000. Norges Bank owned approximately 1.12% of Tractor Supply at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Wellington Management Group LLP lifted its holdings in shares of 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 worth $573,038,000 after buying an additional 2,792,352 shares in the last quarter. Invesco Ltd. grew its position in Tractor Supply by 76.7% during the third quarter. Invesco Ltd. now owns 2,024,182 shares of the specialty retailer’s stock worth $411,010,000 after buying an additional 878,874 shares in the last quarter. Alecta Tjanstepension Omsesidigt grew its position in Tractor Supply by 87.5% during the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 750,000 shares of the specialty retailer’s stock worth $161,272,000 after buying an additional 350,000 shares in the last quarter. International Assets Investment Management LLC increased its stake in Tractor Supply by 32,987.5% in the 4th quarter. International Assets Investment Management LLC now owns 270,325 shares of the specialty retailer’s stock worth $58,128,000 after acquiring an additional 269,508 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of Tractor Supply by 22.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,148,340 shares of the specialty retailer’s stock valued at $233,170,000 after acquiring an additional 210,131 shares during the last quarter. 98.72% of the stock is owned by institutional investors.

Tractor Supply Price Performance

TSCO stock opened at $285.68 on Wednesday. The firm has a 50-day moving average of $261.76 and a 200 day moving average of $236.09. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.40 and a quick ratio of 0.19. The company has a market cap of $30.80 billion, a P/E ratio of 27.82, a PEG ratio of 3.57 and a beta of 0.82. Tractor Supply has a 1 year low of $185.00 and a 1 year high of $287.89.

Tractor Supply (NASDAQ:TSCO) last released its earnings results on Thursday, April 25th. The specialty retailer reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.13. The company had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.40 billion. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.65 EPS. On average, sell-side analysts forecast that Tractor Supply will post 10.33 EPS for the current year.

Tractor Supply Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 28th will be issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date is Friday, May 24th. Tractor Supply’s payout ratio is 42.84%.

Insider Transactions at Tractor Supply

In other Tractor Supply news, CFO Kurt D. Barton sold 4,335 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $257.00, for a total value of $1,114,095.00. Following the completion of the transaction, the chief financial officer now 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 SEC, which is available through this link. In related news, CFO Kurt D. Barton sold 4,335 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $257.00, for a total value of $1,114,095.00. Following 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 SEC, which is available through the SEC website. Also, EVP Colin Yankee sold 8,675 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $250.00, for a total value of $2,168,750.00. Following the sale, the executive vice president now directly owns 9,673 shares of the company’s stock, valued at approximately $2,418,250. The disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on TSCO shares. Piper Sandler raised their price objective on shares of Tractor Supply from $265.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. UBS Group lifted their price target on Tractor Supply from $220.00 to $240.00 and gave the stock a “neutral” rating in a research note on Friday, February 2nd. Mizuho reiterated a “neutral” rating and set a $250.00 price objective (up from $245.00) on shares of Tractor Supply in a research report on Friday, April 26th. JPMorgan Chase & Co. upped their target price on Tractor Supply from $241.00 to $263.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Finally, Robert W. Baird lifted their price target on shares of Tractor Supply from $260.00 to $285.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $253.96.

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.