Capital International Investors raised its holdings in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 334.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,429,288 shares of the specialty retailer's stock after acquiring an additional 11,880,010 shares during the quarter. Capital International Investors owned approximately 2.89% of Tractor Supply worth $818,421,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Smithfield Trust Co lifted its position 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 buying an additional 352 shares during the last quarter. PrairieView Partners LLC boosted its stake 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 acquiring an additional 400 shares in the last quarter. Future Financial Wealth Managment LLC grew its holdings in shares of Tractor Supply by 400.0% during the fourth quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 400 shares during the last quarter. Archer Investment Corp increased its position in shares of Tractor Supply by 400.0% during the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 400 shares in the last quarter. Finally, Kentucky Trust Co purchased a new stake in shares of Tractor Supply in the 4th quarter valued at about $27,000. Hedge funds and other institutional investors own 98.72% of the company's stock.
Analyst Ratings Changes
Several research analysts have commented on TSCO shares. Mizuho lifted their price target on Tractor Supply from $60.00 to $62.00 and gave the stock an "outperform" rating in a research report on Thursday, January 23rd. Telsey Advisory Group reissued an "outperform" rating and set a $67.00 price objective on shares of Tractor Supply in a research report on Thursday. Truist Financial reduced their target price 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. Guggenheim reissued a "buy" rating and set a $60.00 price target on shares of Tractor Supply in a report on Friday, January 31st. Finally, 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. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Tractor Supply presently has an average rating of "Moderate Buy" and a consensus target price of $59.07.
Read Our Latest Stock Report on Tractor Supply
Tractor Supply Price Performance
TSCO stock traded down $1.91 during trading on Thursday, reaching $48.82. 7,541,336 shares of the company were exchanged, compared to its average volume of 5,130,673. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. The stock's 50 day moving average price is $53.36 and its 200 day moving average price is $54.94. Tractor Supply has a 52-week low of $46.93 and a 52-week high of $61.53. The company has a market cap of $25.95 billion, a P/E ratio of 23.91, a PEG ratio of 2.95 and a beta of 0.88.
Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.03). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. The firm had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.55 billion. As a group, analysts predict that Tractor Supply will post 2.17 earnings per share for the current fiscal year.
Tractor Supply Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 7.54%. 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 is 45.10%.
Tractor Supply announced that its Board of Directors has initiated a stock buyback plan on Thursday, February 13th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the specialty retailer to purchase up to 3.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its shares are undervalued.
Insider Buying and Selling
In other news, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $54.59, for a total value of $4,809,106.05. Following the completion of the sale, the chief executive officer now owns 488,852 shares of the company's stock, valued at $26,686,430.68. The trade was a 15.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Matthew L. Rubin sold 3,850 shares of the firm's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $57.69, for a total value of $222,106.50. Following the completion of the sale, the senior vice president now directly owns 31,787 shares in the company, valued at approximately $1,833,792.03. The trade was a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 137,993 shares of company stock worth $7,538,068. 0.65% of the stock is owned by corporate insiders.
Tractor Supply Company Profile
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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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