First Trust Advisors LP Boosts Stock Position in Tractor Supply (NASDAQ:TSCO)

First Trust Advisors LP increased its holdings in Tractor Supply (NASDAQ:TSCO - Free Report) by 386.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,195,166 shares of the specialty retailer's stock after purchasing an additional 949,407 shares during the quarter. First Trust Advisors LP owned approximately 0.22% of Tractor Supply worth $63,416,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Forum Financial Management LP increased its stake in shares of Tractor Supply by 415.4% during the fourth quarter. Forum Financial Management LP now owns 3,860 shares of the specialty retailer's stock valued at $205,000 after buying an additional 3,111 shares during the period. Freedom Investment Management Inc. increased its position in Tractor Supply by 403.6% during the 4th quarter. Freedom Investment Management Inc. now owns 6,386 shares of the specialty retailer's stock valued at $339,000 after purchasing an additional 5,118 shares during the period. Generation Capital Management LLC bought a new position in Tractor Supply in the 4th quarter worth $236,000. GeoWealth Management LLC lifted its position in shares of Tractor Supply by 411.7% in the 4th quarter. GeoWealth Management LLC now owns 4,314 shares of the specialty retailer's stock worth $229,000 after purchasing an additional 3,471 shares during the period. Finally, Brant Point Investment Management LLC boosted its stake in shares of Tractor Supply by 406.8% during the 4th quarter. Brant Point Investment Management LLC now owns 66,545 shares of the specialty retailer's stock valued at $3,531,000 after purchasing an additional 53,415 shares in the last quarter. Hedge funds and other institutional investors own 98.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. 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 research note on Monday, December 30th. Stephens began coverage on Tractor Supply in a research note on Wednesday, April 9th. They issued an "equal weight" rating and a $56.00 target price for the company. Mizuho upped their price target on Tractor Supply from $60.00 to $62.00 and gave the stock an "outperform" rating in a research note on Thursday, January 23rd. Telsey Advisory Group reissued an "outperform" rating and set a $67.00 price objective on shares of Tractor Supply in a research report on Thursday, April 17th. Finally, Truist Financial reduced their target price on shares of Tractor Supply from $63.00 to $60.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Two analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $59.07.

Insider Activity at Tractor Supply

In other Tractor Supply news, CEO Harry A. Lawton III sold 88,095 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 488,852 shares of the company's stock, valued at approximately $26,686,430.68. This represents a 15.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $57.69, for a total transaction of $222,106.50. Following the transaction, the senior vice president now owns 31,787 shares in the company, valued at $1,833,792.03. This represents a 10.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 137,993 shares of company stock worth $7,538,068. 0.65% of the stock is owned by insiders.

Tractor Supply Price Performance

Shares of NASDAQ:TSCO opened at $50.28 on Wednesday. The business has a 50-day simple moving average of $53.48 and a two-hundred day simple moving average of $54.97. 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 market cap of $26.73 billion, a price-to-earnings ratio of 24.65, a price-to-earnings-growth ratio of 2.95 and a beta of 0.88. Tractor Supply has a fifty-two week low of $46.97 and a fifty-two week high of $61.53.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its quarterly earnings data 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 net margin of 7.40% and a return on equity of 49.01%. On average, analysts expect that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were issued a $0.92 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 annualized dividend and a dividend yield of 7.32%. This is a positive change from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's payout ratio is presently 45.10%.

Tractor Supply declared that its Board of Directors has initiated a share buyback plan on Thursday, February 13th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the specialty retailer to purchase up to 3.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.

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.

Want to see what other hedge funds are holding TSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tractor Supply (NASDAQ:TSCO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.