Capital Research Global Investors Grows Position in Tractor Supply (NASDAQ:TSCO)

Capital Research Global Investors increased its stake in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 400.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,617,713 shares of the specialty retailer's stock after acquiring an additional 6,095,825 shares during the quarter. Capital Research Global Investors owned about 1.43% of Tractor Supply worth $404,196,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Smithfield Trust Co increased its stake in shares of Tractor Supply by 286.2% in the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock valued at $25,000 after buying 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 raised its stake in shares of Tractor Supply by 400.0% during the 4th 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 in the last quarter. Archer Investment Corp grew its holdings in 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 during the period. Finally, Kentucky Trust Co bought a new position in shares of Tractor Supply in the fourth quarter valued at about $27,000. 98.72% of the stock is owned by institutional investors and hedge funds.

Tractor Supply Stock Performance

TSCO traded up $0.43 during trading on Wednesday, reaching $50.71. 6,627,756 shares of the company were exchanged, compared to its average volume of 5,120,490. The firm has a 50 day moving average of $53.48 and a 200 day moving average of $54.97. The stock has a market cap of $26.96 billion, a P/E ratio of 24.86, a PEG ratio of 2.95 and a beta of 0.88. The company has a current ratio of 1.43, a quick ratio of 0.20 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.

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

Tractor Supply declared that its Board of Directors has authorized a share buyback plan on Thursday, February 13th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the specialty retailer to repurchase up to 3.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company's management believes its stock is undervalued.

Tractor Supply Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were paid a $0.92 dividend. This is an increase from Tractor Supply's previous quarterly dividend of $0.22. This represents a $3.68 annualized dividend and a yield of 7.26%. The ex-dividend date of this dividend was Wednesday, February 26th. Tractor Supply's dividend payout ratio (DPR) is 45.10%.

Insiders Place Their Bets

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of the company'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 transaction, the senior vice president now owns 31,787 shares of the company's stock, valued at $1,833,792.03. This represents a 10.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kurt D. Barton sold 12,146 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $56.00, for a total transaction of $680,176.00. Following the sale, the chief financial officer now owns 47,715 shares of the company's stock, valued at approximately $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 a total of 137,993 shares of company stock valued at $7,538,068 over the last ninety days. 0.65% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Stephens assumed coverage on shares of Tractor Supply in a research report on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 price objective for the company. JPMorgan Chase & Co. raised 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. Mizuho upped their price objective on shares of Tractor Supply from $60.00 to $62.00 and gave the stock an "outperform" rating in a research report on Thursday, January 23rd. Bank of America upped their price objective on shares of Tractor Supply from $44.00 to $53.00 and gave the company an "underperform" rating in a report on Thursday, January 16th. Finally, Telsey Advisory Group restated an "outperform" rating and set a $67.00 target price on shares of Tractor Supply in a research report on Thursday, April 17th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $59.07.

About Tractor Supply

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.