Commerce Bank Boosts Stake in Tractor Supply (NASDAQ:TSCO)

Commerce Bank lifted its stake in Tractor Supply (NASDAQ:TSCO - Free Report) by 393.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 159,213 shares of the specialty retailer's stock after buying an additional 126,973 shares during the quarter. Commerce Bank's holdings in Tractor Supply were worth $8,448,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Tractor Supply by 392.5% during the fourth quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer's stock worth $3,397,643,000 after purchasing an additional 51,031,178 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Tractor Supply by 401.8% during the fourth quarter. Wellington Management Group LLP now owns 23,789,249 shares of the specialty retailer's stock worth $1,262,258,000 after buying an additional 19,048,385 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of Tractor Supply by 403.3% in the fourth quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer's stock worth $1,180,932,000 after buying an additional 17,834,643 shares in the last quarter. Capital International Investors boosted its position in Tractor Supply by 334.7% during the fourth quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer's stock worth $818,421,000 after acquiring an additional 11,880,010 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Tractor Supply by 403.2% during the 4th quarter. Geode Capital Management LLC now owns 14,519,937 shares of the specialty retailer's stock valued at $768,838,000 after acquiring an additional 11,634,249 shares in the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Tractor Supply Stock Up 1.9 %

Shares of Tractor Supply stock traded up $0.92 during trading hours on Friday, reaching $49.92. 2,228,948 shares of the company were exchanged, compared to its average volume of 5,133,359. The firm has a market cap of $26.54 billion, a PE ratio of 24.47, a PEG ratio of 2.95 and a beta of 0.88. The stock's fifty day moving average is $53.19 and its 200 day moving average is $54.88. Tractor Supply has a 1 year low of $46.85 and a 1 year high of $61.53. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced 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 net margin of 7.40% and a return on equity of 49.01%. The company had revenue of $3.47 billion during the quarter, compared to analysts' expectations of $3.55 billion. As a group, equities research analysts forecast that Tractor Supply will post 2.17 earnings per share for the current year.

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. 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. This represents a $3.68 dividend on an annualized basis and a dividend yield of 7.37%. Tractor Supply's dividend payout ratio is currently 45.77%.

Tractor Supply declared that its board has approved a share buyback plan on Thursday, February 13th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the specialty retailer to purchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

TSCO has been the topic of several recent research reports. Mizuho lowered their target price on Tractor Supply from $62.00 to $58.00 and set an "outperform" rating on the stock in a report on Friday. Bank of America boosted their price objective on Tractor Supply from $44.00 to $53.00 and gave the stock an "underperform" rating in a research note on Thursday, January 16th. Truist Financial cut their target price on Tractor Supply from $63.00 to $60.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Telsey Advisory Group reissued an "outperform" rating and set a $67.00 price target on shares of Tractor Supply in a research report on Thursday. Finally, Robert W. Baird cut their price objective on shares of Tractor Supply from $63.00 to $56.00 and set an "outperform" rating for the company in a research report on Friday. Two analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $58.21.

Insider Activity

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $57.69, for a total value of $222,106.50. Following the sale, the senior vice president now directly owns 31,787 shares in the company, valued at $1,833,792.03. This trade represents a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Harry A. Lawton III sold 88,095 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 488,852 shares of the company's stock, valued at approximately $26,686,430.68. This represents a 15.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 137,993 shares of company stock worth $7,538,068. 0.65% of the stock is currently owned by corporate insiders.

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.