Payden & Rygel acquired a new position in shares of Tractor Supply (NASDAQ:TSCO - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 149,500 shares of the specialty retailer's stock, valued at approximately $7,932,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of Tractor Supply by 392.5% in the fourth quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer's stock valued at $3,397,643,000 after buying an additional 51,031,178 shares during the last quarter. Wellington Management Group LLP grew its holdings in Tractor Supply by 401.8% in the 4th quarter. Wellington Management Group LLP now owns 23,789,249 shares of the specialty retailer's stock valued at $1,262,258,000 after buying an additional 19,048,385 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Tractor Supply by 403.3% in the 4th quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer's stock worth $1,180,932,000 after acquiring an additional 17,834,643 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Tractor Supply by 403.2% during the 4th quarter. Geode Capital Management LLC now owns 14,519,937 shares of the specialty retailer's stock worth $768,838,000 after acquiring an additional 11,634,249 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Tractor Supply by 391.0% during the 4th quarter. JPMorgan Chase & Co. now owns 10,821,654 shares of the specialty retailer's stock valued at $574,197,000 after acquiring an additional 8,617,869 shares during the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.
Tractor Supply Stock Performance
Shares of TSCO stock traded up $0.22 during trading hours on Thursday, reaching $51.60. 2,964,983 shares of the company's stock were exchanged, compared to its average volume of 5,119,823. Tractor Supply has a 1 year low of $46.97 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. The company's 50 day moving average is $54.18 and its two-hundred day moving average is $55.42. The company has a market cap of $27.43 billion, a P/E ratio of 25.11, a price-to-earnings-growth ratio of 2.95 and a beta of 0.88.
Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.28 by ($1.84). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. Equities research analysts anticipate that Tractor Supply will post 2.17 EPS for the current fiscal year.
Tractor Supply Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 7.13%. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. Tractor Supply's dividend payout ratio is 45.10%.
Tractor Supply announced that its board has authorized a share repurchase program on Thursday, February 13th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the specialty retailer to purchase up to 3.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.
Analysts Set New Price Targets
A number of research firms recently commented on TSCO. Loop Capital upped their price objective on Tractor Supply from $53.00 to $58.00 and gave the company a "hold" rating in a report on Thursday, December 12th. Telsey Advisory Group reissued an "outperform" rating and set a $67.00 price objective on shares of Tractor Supply in a research report on Thursday, January 30th. JPMorgan Chase & Co. upped their target price on shares of Tractor Supply from $58.00 to $59.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Guggenheim reissued a "buy" rating and issued a $60.00 price target on shares of Tractor Supply in a research note on Friday, January 31st. Finally, Truist Financial cut their target price on Tractor Supply from $63.00 to $60.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Tractor Supply has a consensus rating of "Moderate Buy" and an average price target of $59.07.
Check Out Our Latest Analysis on TSCO
Insider Transactions at Tractor Supply
In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of the business's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total transaction of $222,106.50. Following the completion of the sale, the senior vice president now owns 31,787 shares in the company, valued at $1,833,792.03. The trade was a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kurt D. Barton sold 12,146 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $56.00, for a total value of $680,176.00. Following the completion of the sale, the chief financial officer now directly owns 47,715 shares in the company, valued at approximately $2,672,040. This trade represents a 20.29 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,993 shares of company stock valued at $7,538,068. Corporate insiders own 0.24% of the company's stock.
Tractor Supply Company Profile
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Free Report)
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.
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