Capital World Investors Purchases 15,575,311 Shares of Tractor Supply (NASDAQ:TSCO)

Capital World Investors raised its position in Tractor Supply (NASDAQ:TSCO - Free Report) by 403.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,433,135 shares of the specialty retailer's stock after purchasing an additional 15,575,311 shares during the quarter. Capital World Investors owned 3.64% of Tractor Supply worth $1,031,122,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Tractor Supply in the 3rd quarter valued at $734,000. Tidal Investments LLC boosted its position in shares of Tractor Supply by 722.5% in the third quarter. Tidal Investments LLC now owns 95,172 shares of the specialty retailer's stock worth $27,688,000 after buying an additional 83,601 shares during the period. Franklin Resources Inc. grew its stake in shares of Tractor Supply by 2.0% in the third quarter. Franklin Resources Inc. now owns 454,175 shares of the specialty retailer's stock valued at $137,950,000 after buying an additional 8,890 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Tractor Supply by 345.6% in the 4th quarter. Versant Capital Management Inc now owns 860 shares of the specialty retailer's stock worth $46,000 after acquiring an additional 667 shares during the period. Finally, GAMMA Investing LLC grew its position in Tractor Supply by 515.5% in the fourth quarter. GAMMA Investing LLC now owns 13,702 shares of the specialty retailer's stock valued at $727,000 after acquiring an additional 11,476 shares in the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Matthew L. Rubin sold 3,850 shares of the 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 of the company's stock, valued at approximately $1,833,792.03. This represents a 10.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kurt D. Barton sold 12,146 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were 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 owns 47,715 shares in the company, valued at $2,672,040. This represents a 20.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 137,993 shares of company stock valued at $7,538,068. Company insiders own 0.65% of the company's stock.

Tractor Supply Price Performance

Shares of TSCO traded up $0.43 during mid-day trading on Wednesday, hitting $50.71. The company's stock had a trading volume of 6,627,756 shares, compared to its average volume of 5,120,490. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. The firm has a 50-day moving average price of $53.48 and a 200 day moving average price of $54.97. Tractor Supply has a fifty-two week low of $46.97 and a fifty-two week high of $61.53. The stock has a market capitalization of $26.96 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 2.95 and a beta of 0.88.

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 (EPS) for the quarter, missing the consensus estimate of $2.28 by ($1.84). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. On average, research analysts predict that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply declared that its board has approved a stock repurchase 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 purchase up to 3.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its stock is undervalued.

Tractor Supply Increases Dividend

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on TSCO shares. JPMorgan Chase & Co. upped their target price 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. Barclays lowered their target price 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. 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 research note on Friday, January 31st. Bank of America increased their price target on Tractor Supply from $44.00 to $53.00 and gave the company an "underperform" rating in a report on Thursday, January 16th. Finally, Stephens began coverage on Tractor Supply in a research report on Wednesday, April 9th. They issued an "equal weight" rating and a $56.00 target price on the stock. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target 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.