Fayez Sarofim & Co Buys 6,704 Shares of Tractor Supply (NASDAQ:TSCO)

Fayez Sarofim & Co boosted its position in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 400.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,380 shares of the specialty retailer's stock after purchasing an additional 6,704 shares during the period. Fayez Sarofim & Co's holdings in Tractor Supply were worth $445,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new position in Tractor Supply in the third quarter worth approximately $734,000. Tidal Investments LLC grew its position in Tractor Supply by 722.5% in the third quarter. Tidal Investments LLC now owns 95,172 shares of the specialty retailer's stock worth $27,688,000 after acquiring an additional 83,601 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Tractor Supply by 2.0% during the 3rd quarter. Franklin Resources Inc. now owns 454,175 shares of the specialty retailer's stock worth $137,950,000 after purchasing an additional 8,890 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of Tractor Supply by 345.6% during the 4th quarter. Versant Capital Management Inc now owns 860 shares of the specialty retailer's stock valued at $46,000 after purchasing an additional 667 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Tractor Supply by 515.5% in the 4th quarter. GAMMA Investing LLC now owns 13,702 shares of the specialty retailer's stock valued at $727,000 after purchasing an additional 11,476 shares during the last quarter. Hedge funds and other institutional investors own 98.72% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Mizuho lowered their target price on shares of Tractor Supply from $62.00 to $58.00 and set an "outperform" rating on the stock in a research report on Friday. Citigroup lowered their price objective on Tractor Supply from $59.00 to $51.00 and set a "neutral" rating on the stock in a report on Friday. Raymond James reduced their target price on Tractor Supply from $61.00 to $57.00 and set an "outperform" rating for the company in a report on Friday. Guggenheim lowered their price target on Tractor Supply from $60.00 to $55.00 and set a "buy" rating on the stock in a report on Friday. Finally, Robert W. Baird dropped their price target on shares of Tractor Supply from $63.00 to $56.00 and set an "outperform" rating on the stock in a research report on Friday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Tractor Supply currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.88.

Tractor Supply Price Performance

NASDAQ TSCO traded up $0.92 on Friday, reaching $49.92. The company's stock had a trading volume of 6,948,963 shares, compared to its average volume of 5,126,301. Tractor Supply has a 52 week low of $46.85 and a 52 week high of $61.53. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. The firm has a market cap of $26.54 billion, a PE ratio of 24.47, a price-to-earnings-growth ratio of 2.95 and a beta of 0.88. The business has a 50-day moving average price of $53.04 and a 200 day moving average price of $54.80.

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 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 the consensus estimate of $3.55 billion. Sell-side analysts expect that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

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

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

Insider Buying and Selling at Tractor Supply

In other news, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $54.59, for a total value of $4,809,106.05. Following the completion of the transaction, the chief executive officer now owns 488,852 shares in the company, valued at approximately $26,686,430.68. The trade was a 15.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 value of $494,481.00. Following the sale, the executive vice president now owns 34,961 shares in the company, valued at approximately $1,858,876.37. This trade represents a 21.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 137,993 shares of company stock valued at $7,538,068. 0.65% of the stock is currently owned by company 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.