Brown Brothers Harriman & Co. Boosts Stock Holdings in Tractor Supply (NASDAQ:TSCO)

Brown Brothers Harriman & Co. grew its holdings in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 331.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 158,575 shares of the specialty retailer's stock after acquiring an additional 121,812 shares during the period. Brown Brothers Harriman & Co.'s holdings in Tractor Supply were worth $8,414,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of TSCO. BOK Financial Private Wealth Inc. increased its stake in shares of Tractor Supply by 330.2% in the fourth quarter. BOK Financial Private Wealth Inc. now owns 21,355 shares of the specialty retailer's stock valued at $1,133,000 after buying an additional 16,391 shares during the period. Blueshift Asset Management LLC increased its position in Tractor Supply by 571.8% during the 4th quarter. Blueshift Asset Management LLC now owns 66,815 shares of the specialty retailer's stock valued at $3,545,000 after purchasing an additional 56,870 shares during the period. Callan Family Office LLC bought a new position in Tractor Supply during the 4th quarter worth approximately $503,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Tractor Supply by 379.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 890,898 shares of the specialty retailer's stock worth $47,271,000 after purchasing an additional 704,896 shares during the period. Finally, Citizens Financial Group Inc. RI boosted its stake in shares of Tractor Supply by 368.7% in the 4th quarter. Citizens Financial Group Inc. RI now owns 7,485 shares of the specialty retailer's stock valued at $397,000 after purchasing an additional 5,888 shares during the last quarter. Institutional investors and hedge funds own 98.72% of the company's stock.

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Insider Buying and Selling

In related news, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total value 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Colin Yankee sold 24,602 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $54.15, for a total value of $1,332,198.30. Following the transaction, the executive vice president now directly owns 33,645 shares of the company's stock, valued at approximately $1,821,876.75. This trade represents a 42.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,993 shares of company stock worth $7,538,068. 0.24% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Telsey Advisory Group restated an "outperform" rating and issued a $67.00 target price on shares of Tractor Supply in a report on Thursday, January 30th. Barclays cut their target price 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. Guggenheim reiterated a "buy" rating and issued a $60.00 target price on shares of Tractor Supply in a report on Friday, January 31st. Truist Financial cut their price target on Tractor Supply from $63.00 to $60.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Tractor Supply from $58.00 to $59.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $59.22.

Tractor Supply Stock Down 1.6 %

NASDAQ TSCO traded down $0.88 on Thursday, reaching $54.74. The company had a trading volume of 1,990,124 shares, compared to its average volume of 5,052,979. 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 stock has a market capitalization of $29.23 billion, a P/E ratio of 26.83, a P/E/G ratio of 2.95 and a beta of 0.85. The company's fifty day moving average is $54.98 and its 200 day moving average is $55.64. 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 released its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates of $2.28 by ($1.84). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. Sell-side analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply declared that its board has authorized a stock repurchase program on Thursday, February 13th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the specialty retailer to reacquire up to 3.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

Tractor Supply Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were issued a $0.92 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. 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 6.72%. Tractor Supply's dividend payout ratio is currently 45.10%.

Tractor Supply 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.