Family Legacy Inc. Has $918,000 Stock Position in Tractor Supply (NASDAQ:TSCO)

Family Legacy Inc. lifted its holdings in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 478.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,876 shares of the specialty retailer's stock after acquiring an additional 13,960 shares during the quarter. Family Legacy Inc.'s holdings in Tractor Supply were worth $918,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of TSCO. Vanguard Group Inc. boosted its stake in Tractor Supply by 392.5% during the 4th quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer's stock valued at $3,397,643,000 after acquiring an additional 51,031,178 shares during the last quarter. Wellington Management Group LLP lifted its position 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 purchasing an additional 19,048,385 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Tractor Supply by 403.3% during the fourth quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer's stock worth $1,180,932,000 after purchasing an additional 17,834,643 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Tractor Supply by 391.0% in the fourth quarter. JPMorgan Chase & Co. now owns 10,821,654 shares of the specialty retailer's stock valued at $574,197,000 after buying an additional 8,617,869 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Tractor Supply in the fourth quarter valued at about $329,458,000. 98.72% of the stock is owned by hedge funds and other institutional investors.

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Tractor Supply Price Performance

TSCO traded up $0.03 on Tuesday, reaching $55.13. The company had a trading volume of 4,991,376 shares, compared to its average volume of 5,068,527. Tractor Supply has a one year low of $48.30 and a one year high of $61.53. The company has a market capitalization of $29.44 billion, a P/E ratio of 27.02, a PEG ratio of 2.95 and a beta of 0.85. The company has a fifty day moving average of $55.02 and a 200-day moving average of $55.64. 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 posted its quarterly earnings data 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%. As a group, equities research analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current year.

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

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 6.68%. The ex-dividend date was Wednesday, February 26th. This is an increase from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's payout ratio is currently 45.10%.

Insider Activity

In other Tractor Supply news, EVP Melissa Kersey sold 9,300 shares of the company's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $53.17, for a total value of $494,481.00. Following the transaction, the executive vice president now owns 34,961 shares of the company's stock, valued at approximately $1,858,876.37. This represents a 21.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 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 disclosure for this sale can be found here. Insiders sold a total of 137,993 shares of company stock worth $7,538,068 over the last 90 days. 0.24% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on TSCO shares. Mizuho lifted their target price on Tractor Supply from $60.00 to $62.00 and gave the stock an "outperform" rating in a research report on Thursday, January 23rd. Loop Capital lifted their price objective on shares of Tractor Supply from $53.00 to $58.00 and gave the stock a "hold" rating in a report on Thursday, December 12th. JPMorgan Chase & Co. increased their target price on shares of Tractor Supply from $58.00 to $59.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Barclays decreased their price target on shares of Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating for the company in a report on Monday, December 30th. Finally, Guggenheim reiterated a "buy" rating and set a $60.00 price objective on shares of Tractor Supply in a research note on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $59.22.

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.