Alliancebernstein L.P. lifted its position in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 403.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,256,534 shares of the specialty retailer's stock after buying an additional 17,834,643 shares during the period. Alliancebernstein L.P. owned about 4.17% of Tractor Supply worth $1,180,932,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of TSCO. Smithfield Trust Co grew its stake in shares of Tractor Supply by 286.2% during the 4th quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock worth $25,000 after acquiring an additional 352 shares in the last quarter. PrairieView Partners LLC grew its position in Tractor Supply by 400.0% in the fourth quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer's stock valued at $26,000 after purchasing an additional 400 shares in the last quarter. Future Financial Wealth Managment LLC grew its position in Tractor Supply by 400.0% in the fourth quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer's stock valued at $27,000 after purchasing an additional 400 shares in the last quarter. Archer Investment Corp increased its stake in Tractor Supply by 400.0% in the 4th quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock valued at $27,000 after buying an additional 400 shares during the last quarter. Finally, Kentucky Trust Co bought a new stake in Tractor Supply during the 4th quarter worth about $27,000. 98.72% of the stock is currently owned by institutional investors.
Tractor Supply Stock Performance
Shares of Tractor Supply stock traded up $0.03 during trading on Tuesday, reaching $55.13. The company's stock had a trading volume of 4,991,376 shares, compared to its average volume of 5,068,527. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. The business's 50-day moving average price is $55.02 and its 200-day moving average price is $55.64. Tractor Supply has a 52 week low of $48.30 and a 52 week high of $61.53. The firm has a market cap of $29.44 billion, a PE ratio of 27.02, a P/E/G ratio of 2.95 and a beta of 0.85.
Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its earnings results 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 forecast that Tractor Supply will post 2.17 earnings per share for the current year.
Tractor Supply declared that its board has approved a share repurchase program on Thursday, February 13th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the specialty retailer to buy up to 3.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its shares are undervalued.
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 issued a dividend of $0.92 per share. This is a positive change from Tractor Supply's previous quarterly dividend of $0.22. This represents a $3.68 annualized dividend and a dividend yield of 6.68%. The ex-dividend date was Wednesday, February 26th. Tractor Supply's dividend payout ratio is 45.10%.
Insider Transactions at Tractor Supply
In related news, EVP Colin Yankee sold 24,602 shares of the stock in a transaction that occurred 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 legal filing with the SEC, which is accessible through this link. Also, SVP Matthew L. Rubin sold 3,850 shares of the business'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 transaction of $222,106.50. Following the transaction, the senior vice president now owns 31,787 shares of the company's stock, valued at approximately $1,833,792.03. This represents a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 137,993 shares of company stock valued at $7,538,068. 0.24% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of research firms recently issued reports on TSCO. Guggenheim reaffirmed a "buy" rating and issued a $60.00 target price on shares of Tractor Supply in a research report on Friday, January 31st. Barclays lowered their price target on Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating on the stock in a research report on Monday, December 30th. Truist Financial cut their price objective on Tractor Supply from $63.00 to $60.00 and set a "buy" rating for the company in a report on Friday, January 31st. Loop Capital boosted their target price on shares of Tractor Supply from $53.00 to $58.00 and gave the stock a "hold" rating in a report on Thursday, December 12th. Finally, Mizuho increased their price target on shares of Tractor Supply from $60.00 to $62.00 and gave the company an "outperform" rating in a research note on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $59.22.
View Our Latest Stock Report on TSCO
About Tractor Supply
(
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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