Bell Asset Management Ltd Raises Stock Holdings in Tractor Supply (NASDAQ:TSCO)

Bell Asset Management Ltd boosted its holdings in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 536.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 127,350 shares of the specialty retailer's stock after buying an additional 107,353 shares during the period. Tractor Supply makes up about 1.2% of Bell Asset Management Ltd's portfolio, making the stock its 26th largest position. Bell Asset Management Ltd's holdings in Tractor Supply were worth $6,757,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in TSCO. FMR LLC boosted its holdings in Tractor Supply by 7.6% during the 3rd quarter. FMR LLC now owns 163,454 shares of the specialty retailer's stock worth $47,554,000 after acquiring an additional 11,584 shares during the last quarter. HighTower Advisors LLC boosted its holdings in Tractor Supply by 4.1% during the third quarter. HighTower Advisors LLC now owns 44,819 shares of the specialty retailer's stock worth $13,099,000 after purchasing an additional 1,771 shares during the last quarter. Janus Henderson Group PLC grew its position in Tractor Supply by 2.6% in the 3rd quarter. Janus Henderson Group PLC now owns 14,557 shares of the specialty retailer's stock worth $4,236,000 after purchasing an additional 363 shares in the last quarter. Integrated Wealth Concepts LLC increased its stake in Tractor Supply by 12.1% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 3,284 shares of the specialty retailer's stock valued at $955,000 after buying an additional 354 shares during the last quarter. Finally, Glen Eagle Advisors LLC lifted its position in shares of Tractor Supply by 75.8% during the 3rd quarter. Glen Eagle Advisors LLC now owns 464 shares of the specialty retailer's stock worth $135,000 after buying an additional 200 shares in the last quarter. 98.72% of the stock is owned by institutional investors.

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Tractor Supply Price Performance

Shares of NASDAQ TSCO traded up $0.35 during mid-day trading on Friday, reaching $51.67. 4,341,698 shares of the company were exchanged, compared to its average volume of 5,128,594. The stock has a market capitalization of $27.47 billion, a PE ratio of 25.33, a PEG ratio of 2.95 and a beta of 0.88. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. Tractor Supply has a 52 week low of $46.97 and a 52 week high of $61.53. The company's 50 day moving average price is $54.07 and its 200 day moving average price is $55.36.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share 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%. Sell-side analysts forecast that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply announced that its Board of Directors has approved a stock buyback program on Thursday, February 13th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the specialty retailer to repurchase 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.

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were given a $0.92 dividend. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 7.12%. Tractor Supply's payout ratio is presently 45.10%.

Insider Activity

In related news, CEO Harry A. Lawton III sold 88,095 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $54.59, for a total transaction of $4,809,106.05. Following the completion of the transaction, the chief executive officer now owns 488,852 shares in the company, valued at $26,686,430.68. This represents a 15.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Melissa Kersey sold 9,300 shares of the firm's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $53.17, for a total value of $494,481.00. Following the completion of the sale, the executive vice president now directly owns 34,961 shares of the company's stock, valued at $1,858,876.37. The trade was a 21.01 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 137,993 shares of company stock valued at $7,538,068. Insiders own 0.24% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on TSCO shares. Mizuho upped their target price on Tractor Supply from $60.00 to $62.00 and gave the company an "outperform" rating in a report on Thursday, January 23rd. Barclays reduced their price objective on Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating for the company in a research note on Monday, December 30th. Stephens assumed coverage on Tractor Supply in a research note on Wednesday. They set an "equal weight" rating and a $56.00 target price on the stock. Bank of America increased their price target on shares of Tractor Supply from $44.00 to $53.00 and gave the company an "underperform" rating in a research report on Thursday, January 16th. Finally, Truist Financial lowered their price objective on shares of 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 equities research analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.07.

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.