Dimensional Fund Advisors LP Increases Holdings in Tractor Supply (NASDAQ:TSCO)

Dimensional Fund Advisors LP grew its stake in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 415.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,936,251 shares of the specialty retailer's stock after purchasing an additional 4,783,840 shares during the period. Dimensional Fund Advisors LP owned approximately 1.11% of Tractor Supply worth $314,969,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in TSCO. First Trust Advisors LP grew its stake in Tractor Supply by 386.3% in the fourth quarter. First Trust Advisors LP now owns 1,195,166 shares of the specialty retailer's stock valued at $63,416,000 after acquiring an additional 949,407 shares during the period. Forum Financial Management LP increased its stake in Tractor Supply by 415.4% during the 4th quarter. Forum Financial Management LP now owns 3,860 shares of the specialty retailer's stock valued at $205,000 after purchasing an additional 3,111 shares in the last quarter. Freedom Investment Management Inc. raised its holdings in Tractor Supply by 403.6% during the fourth quarter. Freedom Investment Management Inc. now owns 6,386 shares of the specialty retailer's stock worth $339,000 after buying an additional 5,118 shares during the last quarter. Generation Capital Management LLC acquired a new position in shares of Tractor Supply during the fourth quarter valued at about $236,000. Finally, GeoWealth Management LLC increased its position in shares of Tractor Supply by 411.7% during the fourth quarter. GeoWealth Management LLC now owns 4,314 shares of the specialty retailer's stock worth $229,000 after acquiring an additional 3,471 shares in the last quarter. Institutional investors own 98.72% of the company's stock.

Tractor Supply Stock Up 1.9 %

TSCO traded up $0.92 during midday trading on Friday, reaching $49.92. The company's stock had a trading volume of 6,947,905 shares, compared to its average volume of 5,151,598. The stock's 50-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 firm has a market capitalization of $26.54 billion, a price-to-earnings ratio of 24.47, 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 (NASDAQ:TSCO - Get Free Report) last issued its earnings results 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 during the quarter, compared to analysts' expectations of $3.55 billion. As a group, research analysts expect that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply announced that its board has approved a share buyback plan on Thursday, February 13th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to purchase up to 3.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 7.37%. 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 45.77%.

Insider Buying and Selling at Tractor Supply

In related news, SVP Matthew L. Rubin sold 3,850 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total transaction 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Melissa Kersey sold 9,300 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $53.17, for a total transaction of $494,481.00. Following the completion of the transaction, the executive vice president now owns 34,961 shares in the company, valued at $1,858,876.37. The trade was a 21.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 137,993 shares of company stock valued at $7,538,068. 0.65% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TSCO shares. Bank of America lifted their price target on Tractor Supply from $44.00 to $53.00 and gave the company an "underperform" rating in a research note on Thursday, January 16th. Truist Financial dropped their price objective 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. Telsey Advisory Group reiterated an "outperform" rating and issued a $67.00 target price on shares of Tractor Supply in a report on Thursday. Robert W. Baird reduced 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. Finally, Guggenheim dropped their target price on shares of Tractor Supply from $60.00 to $55.00 and set a "buy" rating on the stock in a research report on Friday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $58.21.

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.