Franklin Resources Inc. Buys 1,872,786 Shares of Tractor Supply (NASDAQ:TSCO)

Franklin Resources Inc. raised its stake in Tractor Supply (NASDAQ:TSCO - Free Report) by 412.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,326,961 shares of the specialty retailer's stock after purchasing an additional 1,872,786 shares during the quarter. Franklin Resources Inc. owned about 0.44% of Tractor Supply worth $123,469,000 at the end of the most recent quarter.

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

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Wall Street Analyst Weigh In

Several research analysts have weighed in on TSCO shares. Guggenheim reissued a "buy" rating and set a $60.00 price objective on shares of Tractor Supply in a report on Friday, January 31st. Loop Capital raised their price objective on Tractor Supply from $53.00 to $58.00 and gave the stock a "hold" rating in a research note on Thursday, December 12th. Mizuho boosted their target price on shares of Tractor Supply from $60.00 to $62.00 and gave the company an "outperform" rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. raised their price target on shares of Tractor Supply from $58.00 to $59.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Finally, Truist Financial lowered their price objective on shares of Tractor Supply from $63.00 to $60.00 and set a "buy" rating for the company in a research report on Friday, January 31st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $59.22.

Tractor Supply Stock Down 5.1 %

Shares of Tractor Supply stock traded down $2.67 during trading on Monday, hitting $49.73. 3,062,729 shares of the stock traded hands, compared to its average volume of 5,074,706. The stock has a market cap of $26.44 billion, a P/E ratio of 24.47, a PEG ratio of 2.95 and a beta of 0.88. The company has a fifty day moving average price of $54.84 and a two-hundred day moving average price of $55.62. Tractor Supply has a twelve month low of $48.30 and a twelve month high of $61.53. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its quarterly earnings results 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%. Equities research analysts predict that Tractor Supply will post 2.17 EPS for the current fiscal year.

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

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were given a dividend of $0.92 per share. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a yield of 7.40%. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's dividend payout ratio is presently 45.10%.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, EVP Melissa Kersey sold 9,300 shares of the firm's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $53.17, for a total value of $494,481.00. Following the sale, the executive vice president now directly owns 34,961 shares in the company, valued at $1,858,876.37. This trade represents a 21.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Harry A. Lawton III sold 88,095 shares of the 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 completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 137,993 shares of company stock worth $7,538,068 over the last 90 days. Insiders own 0.24% of the company's stock.

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.