Advisors Asset Management Inc. Raises Position in Tractor Supply (NASDAQ:TSCO)

Advisors Asset Management Inc. increased its position in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 381.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 195,225 shares of the specialty retailer's stock after purchasing an additional 154,688 shares during the quarter. Advisors Asset Management Inc.'s holdings in Tractor Supply were worth $10,359,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TSCO. Providence Capital Advisors LLC bought a new position in shares of Tractor Supply in the third quarter valued at approximately $32,000. Assetmark Inc. grew its stake in Tractor Supply by 2,383.3% in the 3rd quarter. Assetmark Inc. now owns 149 shares of the specialty retailer's stock valued at $43,000 after purchasing an additional 143 shares during the period. Larson Financial Group LLC increased its position in shares of Tractor Supply by 29.4% during the 3rd quarter. Larson Financial Group LLC now owns 286 shares of the specialty retailer's stock valued at $83,000 after purchasing an additional 65 shares during the last quarter. First Horizon Advisors Inc. increased its position in shares of Tractor Supply by 13.2% during the 3rd quarter. First Horizon Advisors Inc. now owns 351 shares of the specialty retailer's stock valued at $102,000 after purchasing an additional 41 shares during the last quarter. Finally, Icon Wealth Advisors LLC bought a new stake in shares of Tractor Supply during the 3rd quarter worth $111,000. 98.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on TSCO shares. Truist Financial decreased their price objective on shares of Tractor Supply from $63.00 to $60.00 and set a "buy" rating for the company in a report on Friday, January 31st. Telsey Advisory Group restated an "outperform" rating and set a $67.00 price target on shares of Tractor Supply in a research note on Thursday, January 30th. Bank of America upped their price objective on Tractor Supply from $44.00 to $53.00 and gave the company an "underperform" rating in a research note on Thursday, January 16th. Mizuho raised their target price on Tractor Supply from $60.00 to $62.00 and gave the stock an "outperform" rating in a research report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. upped their price target on Tractor Supply from $58.00 to $59.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $59.22.

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Tractor Supply Price Performance

NASDAQ TSCO traded up $0.62 on Friday, hitting $52.46. The stock had a trading volume of 6,332,636 shares, compared to its average volume of 4,905,755. The firm has a 50-day moving average of $55.03 and a 200-day moving average of $55.68. The company has a market capitalization of $28.01 billion, a price-to-earnings ratio of 25.72, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. Tractor Supply has a 52-week low of $48.30 and a 52-week high of $61.53.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.28 by ($1.84). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. Equities analysts expect that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders 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 dividend yield of 7.01%. The ex-dividend date was Wednesday, February 26th. This is an increase from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's dividend payout ratio (DPR) is 45.10%.

Tractor Supply declared that its Board of Directors has approved a stock repurchase plan on Thursday, February 13th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the specialty retailer to repurchase up to 3.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its shares are undervalued.

Insider Activity

In other news, EVP Colin Yankee sold 24,602 shares of the firm's stock in a transaction on Tuesday, February 11th. The shares were 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 owns 33,645 shares in the company, valued at approximately $1,821,876.75. This trade represents a 42.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Melissa Kersey sold 9,300 shares of Tractor Supply stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $53.17, for a total transaction of $494,481.00. Following the sale, the executive vice president now directly owns 34,961 shares of the company's stock, valued at $1,858,876.37. This represents a 21.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 137,993 shares of company stock worth $7,538,068. 0.24% of the stock is currently owned by insiders.

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.