Federated Hermes Inc. Raises Stock Holdings in Tractor Supply (NASDAQ:TSCO)

Federated Hermes Inc. increased its holdings in Tractor Supply (NASDAQ:TSCO - Free Report) by 331.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 981,082 shares of the specialty retailer's stock after acquiring an additional 753,556 shares during the quarter. Federated Hermes Inc. owned approximately 0.18% of Tractor Supply worth $52,056,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Smithfield Trust Co grew its stake in Tractor Supply by 286.2% during the 4th quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock worth $25,000 after buying an additional 352 shares during the last quarter. PrairieView Partners LLC grew its position in Tractor Supply by 400.0% during the 4th quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer's stock worth $26,000 after purchasing an additional 400 shares during the last quarter. Future Financial Wealth Managment LLC grew its position 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 worth $27,000 after purchasing an additional 400 shares during the last quarter. Archer Investment Corp increased its stake in Tractor Supply by 400.0% during the 4th quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock valued at $27,000 after purchasing an additional 400 shares in the last quarter. Finally, Kentucky Trust Co purchased a new position in shares of Tractor Supply in the fourth quarter worth $27,000. 98.72% of the stock is currently owned by institutional investors.

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Tractor Supply Price Performance

Shares of TSCO stock traded up $0.35 during trading hours on Friday, hitting $51.67. 4,341,698 shares of the company's stock were exchanged, compared to its average volume of 5,129,270. The firm has a 50 day moving average of $54.07 and a two-hundred day moving average of $55.35. Tractor Supply has a fifty-two week low of $46.97 and a fifty-two week high of $61.53. The firm has a market cap of $27.47 billion, a P/E ratio of 25.33, a P/E/G ratio of 2.95 and a beta of 0.88. The company has a quick ratio of 0.20, a current ratio of 1.43 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%. Sell-side analysts forecast that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 7.12%. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, February 26th. Tractor Supply's payout ratio is presently 45.10%.

Tractor Supply declared that its Board of Directors has authorized a stock repurchase program on Thursday, February 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the specialty retailer to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Stephens initiated coverage on Tractor Supply in a research report on Wednesday. They issued an "equal weight" rating and a $56.00 target price on the stock. Truist Financial cut their price objective on Tractor Supply from $63.00 to $60.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Barclays decreased their target price on Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating for the company in a report on Monday, December 30th. JPMorgan Chase & Co. increased their price target 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. Finally, Guggenheim restated a "buy" rating and set a $60.00 price objective on shares of Tractor Supply in a research note on Friday, January 31st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $59.07.

Insider Activity

In other news, CEO Harry A. Lawton III sold 88,095 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $54.59, for a total transaction of $4,809,106.05. Following the transaction, the chief executive officer now owns 488,852 shares of the company's stock, valued at approximately $26,686,430.68. The trade was a 15.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Matthew L. Rubin sold 3,850 shares of the firm's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $57.69, for a total transaction of $222,106.50. Following the sale, the senior vice president now owns 31,787 shares of the company's stock, valued at approximately $1,833,792.03. The trade was a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,993 shares of company stock worth $7,538,068 over the last three months. Insiders own 0.24% of the company's stock.

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.