Tractor Supply (NASDAQ:TSCO) Shares Acquired by Fayez Sarofim & Co

Fayez Sarofim & Co lifted its position in Tractor Supply (NASDAQ:TSCO - Free Report) by 400.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,380 shares of the specialty retailer's stock after acquiring an additional 6,704 shares during the period. Fayez Sarofim & Co's holdings in Tractor Supply were worth $445,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Smithfield Trust Co grew its stake in shares of Tractor Supply by 286.2% in the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock worth $25,000 after acquiring an additional 352 shares during the last quarter. Blue Trust Inc. increased its stake in Tractor Supply by 28.2% during the 4th quarter. Blue Trust Inc. now owns 1,646 shares of the specialty retailer's stock valued at $87,000 after purchasing an additional 362 shares in the last quarter. Future Financial Wealth Managment LLC increased its stake in Tractor Supply by 400.0% during the 4th quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer's stock valued at $27,000 after purchasing an additional 400 shares in the last quarter. Archer Investment Corp raised its holdings in Tractor Supply by 400.0% in the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock worth $27,000 after buying an additional 400 shares during the last quarter. Finally, PrairieView Partners LLC grew its holdings in shares of Tractor Supply by 400.0% during the fourth 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 last quarter. Hedge funds and other institutional investors own 98.72% of the company's stock.

Analyst Ratings Changes

TSCO has been the topic of a number of research analyst reports. Robert W. Baird lowered their price target on Tractor Supply from $63.00 to $56.00 and set an "outperform" rating on the stock in a report on Friday. Raymond James decreased their price objective on shares of Tractor Supply from $61.00 to $57.00 and set an "outperform" rating for the company in a report on Friday. Guggenheim cut their target price on shares of Tractor Supply from $60.00 to $55.00 and set a "buy" rating for the company in a research report on Friday. Truist Financial dropped 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. Finally, Bank of America raised their target price on Tractor Supply from $44.00 to $53.00 and gave the stock an "underperform" rating in a research report on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Tractor Supply currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.88.

Tractor Supply Trading Up 1.9 %

TSCO traded up $0.92 during trading on Friday, hitting $49.92. 6,948,963 shares of the stock were exchanged, compared to its average volume of 5,126,299. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. The firm has a 50 day simple moving average of $53.19 and a 200 day simple moving average of $54.88. The firm has a market cap of $26.54 billion, a price-to-earnings ratio of 24.47, a P/E/G ratio of 2.95 and a beta of 0.88. Tractor Supply has a 1 year low of $46.85 and a 1 year high of $61.53.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.37 by ($0.03). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. The business had revenue of $3.47 billion during the quarter, compared to analysts' expectations of $3.55 billion. As a group, equities analysts expect that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 7.37%. This is a positive change from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. Tractor Supply's dividend payout ratio (DPR) is presently 45.77%.

Tractor Supply declared that its board has initiated a stock buyback program on Thursday, February 13th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the specialty retailer to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling

In other news, SVP Matthew L. Rubin sold 3,850 shares of the firm's stock in a transaction dated Thursday, February 20th. The shares were 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 approximately $1,833,792.03. This trade represents a 10.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 488,852 shares in the company, valued at approximately $26,686,430.68. The trade was a 15.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 137,993 shares of company stock valued at $7,538,068 over the last 90 days. Corporate insiders own 0.65% of the company's stock.

About Tractor Supply

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.