Envestnet Asset Management Inc. boosted its holdings in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 383.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,884,923 shares of the specialty retailer's stock after acquiring an additional 3,874,333 shares during the period. Envestnet Asset Management Inc. owned approximately 0.91% of Tractor Supply worth $259,194,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also modified their holdings of the company. Smithfield Trust Co boosted its position in Tractor Supply by 286.2% during the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock worth $25,000 after purchasing an additional 352 shares during the period. PrairieView Partners LLC increased its holdings in Tractor Supply by 400.0% in the 4th quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer's stock valued at $26,000 after buying an additional 400 shares during the period. Future Financial Wealth Managment LLC lifted its stake in 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 raised its stake 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 acquiring an additional 400 shares in the last quarter. Finally, Kentucky Trust Co bought a new stake in Tractor Supply during the 4th quarter worth $27,000. 98.72% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Tractor Supply 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 transaction, the senior vice president now owns 31,787 shares of the company's stock, valued at approximately $1,833,792.03. This represents a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Harry A. Lawton III sold 88,095 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $54.59, for a total transaction of $4,809,106.05. Following the sale, the chief executive officer now directly owns 488,852 shares of the company's stock, valued at $26,686,430.68. This represents a 15.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 137,993 shares of company stock valued at $7,538,068. 0.24% of the stock is owned by corporate insiders.
Analyst Ratings Changes
TSCO has been the subject of several research analyst reports. Truist Financial lowered their price objective on Tractor Supply from $63.00 to $60.00 and set a "buy" rating for the company in a research report on Friday, January 31st. Bank of America lifted their target price on Tractor Supply from $44.00 to $53.00 and gave the stock an "underperform" rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. raised their target price on Tractor Supply from $58.00 to $59.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Telsey Advisory Group restated an "outperform" rating and set a $67.00 price target on shares of Tractor Supply in a research note on Thursday, January 30th. Finally, Guggenheim reissued a "buy" rating and issued a $60.00 price target on shares of Tractor Supply in a report on Friday, January 31st. 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 issued 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 target price of $59.07.
Get Our Latest Research Report on TSCO
Tractor Supply Stock Performance
Shares of TSCO stock traded down $0.33 during midday trading on Friday, hitting $51.00. The company had a trading volume of 1,443,841 shares, compared to its average volume of 5,118,807. The stock has a market cap of $27.11 billion, a price-to-earnings ratio of 25.03, a PEG ratio of 2.95 and a beta of 0.88. Tractor Supply has a 52-week low of $46.97 and a 52-week high of $61.53. The company's 50 day simple moving average is $54.12 and its 200 day simple moving average is $55.39. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20.
Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates of $2.28 by ($1.84). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. Research analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current fiscal year.
Tractor Supply announced that its board has initiated a share repurchase program on Thursday, February 13th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the specialty retailer to reacquire up to 3.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board believes its stock is undervalued.
Tractor Supply Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were given a dividend of $0.92 per share. The ex-dividend date was Wednesday, February 26th. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. This represents a $3.68 annualized dividend and a dividend yield of 7.22%. Tractor Supply's dividend payout ratio (DPR) is 45.10%.
Tractor Supply Profile
(
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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