Tractor Supply (NASDAQ:TSCO) Stock Position Increased by American Century Companies Inc.

American Century Companies Inc. grew its stake in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 633.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,715,001 shares of the specialty retailer's stock after buying an additional 2,344,729 shares during the period. American Century Companies Inc. owned 0.51% of Tractor Supply worth $144,058,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in TSCO. Raymond James Financial Inc. acquired a new stake in shares of Tractor Supply in the fourth quarter worth $329,458,000. Meridiem Investment Management Ltd. increased its holdings in Tractor Supply by 398.9% in the 4th quarter. Meridiem Investment Management Ltd. now owns 5,118,785 shares of the specialty retailer's stock valued at $271,674,000 after purchasing an additional 4,092,808 shares in the last quarter. Wellington Management Group LLP raised its position in Tractor Supply by 3.5% in the third quarter. Wellington Management Group LLP now owns 4,740,864 shares of the specialty retailer's stock valued at $1,379,260,000 after purchasing an additional 161,503 shares during the period. State Street Corp lifted its stake in shares of Tractor Supply by 1.1% during the third quarter. State Street Corp now owns 4,518,341 shares of the specialty retailer's stock worth $1,314,521,000 after purchasing an additional 47,951 shares in the last quarter. Finally, Amundi boosted its position in shares of Tractor Supply by 495.2% in the fourth quarter. Amundi now owns 4,145,992 shares of the specialty retailer's stock worth $225,501,000 after buying an additional 3,449,442 shares during the period. 98.72% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling at Tractor Supply

In other news, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $57.69, for a total transaction of $222,106.50. Following the sale, the senior vice president now owns 31,787 shares of the company's stock, valued at approximately $1,833,792.03. The trade was a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kurt D. Barton sold 12,146 shares of the 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 transaction, the chief financial officer now directly owns 47,715 shares of the company's stock, valued at $2,672,040. This trade represents a 20.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,993 shares of company stock valued at $7,538,068 in the last ninety days. Company insiders own 0.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TSCO. JPMorgan Chase & Co. boosted their price target on Tractor Supply from $58.00 to $59.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Bank of America upped their target price on shares of Tractor Supply from $44.00 to $53.00 and gave the company an "underperform" rating in a research note on Thursday, January 16th. Truist Financial cut their price objective on shares of Tractor Supply from $63.00 to $60.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Guggenheim restated a "buy" rating and set a $60.00 target price on shares of Tractor Supply in a research note on Friday, January 31st. Finally, Barclays cut their price target 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. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $59.22.

Tractor Supply Stock Performance

TSCO traded up $0.29 on Thursday, hitting $54.16. 4,651,444 shares of the company's stock were exchanged, compared to its average volume of 4,892,093. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. The stock has a fifty day moving average of $55.02 and a two-hundred day moving average of $55.66. Tractor Supply has a twelve month low of $48.30 and a twelve month high of $61.53. The firm has a market cap of $28.92 billion, a PE ratio of 26.55, a P/E/G ratio of 2.95 and a beta of 0.85.

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 return on equity of 49.01% and a net margin of 7.40%. On average, research analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply declared that its board has approved a stock buyback plan on Thursday, February 13th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to reacquire up to 3.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 6.79%. The ex-dividend date was Wednesday, February 26th. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's dividend payout ratio (DPR) is 45.10%.

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.