Geode Capital Management LLC raised its holdings in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 403.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,519,937 shares of the specialty retailer's stock after purchasing an additional 11,634,249 shares during the quarter. Geode Capital Management LLC owned 2.72% of Tractor Supply worth $768,838,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Smithfield Trust Co grew its position in shares of 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 in the last quarter. PrairieView Partners LLC increased its holdings in 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 period. Future Financial Wealth Managment LLC raised its stake in Tractor Supply by 400.0% in the fourth quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer's stock worth $27,000 after buying an additional 400 shares in the last quarter. Archer Investment Corp raised its position in shares of Tractor Supply by 400.0% in the 4th quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock worth $27,000 after acquiring an additional 400 shares in the last quarter. Finally, Kentucky Trust Co purchased a new stake in shares of Tractor Supply during the fourth quarter valued at about $27,000. 98.72% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several research firms recently commented on TSCO. Truist Financial reduced 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 note on Friday, January 31st. Bank of America lifted their target price on shares of Tractor Supply from $44.00 to $53.00 and gave the stock an "underperform" rating in a research note on Thursday, January 16th. Barclays dropped their price target on Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Monday, December 30th. JPMorgan Chase & Co. upped their price objective on shares of Tractor Supply from $58.00 to $59.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Finally, Mizuho raised their target price on shares of Tractor Supply from $60.00 to $62.00 and gave the stock an "outperform" rating in a report on Thursday, January 23rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Tractor Supply has a consensus rating of "Moderate Buy" and a consensus target price of $59.22.
Read Our Latest Stock Report on Tractor Supply
Insider Activity at Tractor Supply
In related news, SVP Matthew L. Rubin sold 3,850 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $57.69, for a total value of $222,106.50. Following the completion of the transaction, the senior vice president now directly owns 31,787 shares of the company's stock, valued at approximately $1,833,792.03. This represents a 10.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Harry A. Lawton III sold 88,095 shares of the firm's stock in a transaction 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 $26,686,430.68. The trade was a 15.27 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 137,993 shares of company stock valued at $7,538,068. 0.24% of the stock is owned by corporate insiders.
Tractor Supply Price Performance
TSCO traded down $3.37 during trading on Friday, hitting $52.40. The company's stock had a trading volume of 7,533,363 shares, compared to its average volume of 5,086,192. The firm has a market capitalization of $27.98 billion, a price-to-earnings ratio of 25.69, a P/E/G ratio of 2.95 and a beta of 0.85. Tractor Supply has a twelve month low of $48.30 and a twelve month high of $61.53. The business's fifty day simple moving average is $54.84 and its 200 day simple moving average is $55.61. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82.
Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 EPS for the quarter, missing the consensus estimate of $2.28 by ($1.84). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. On average, equities research analysts forecast that Tractor Supply will post 2.17 EPS for the current fiscal year.
Tractor Supply Increases Dividend
The business 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 7.02%. The ex-dividend date of this dividend was Wednesday, February 26th. This is an increase from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's dividend payout ratio is 45.10%.
Tractor Supply declared that its board has authorized a stock buyback program on Thursday, February 13th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the specialty retailer to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.
About Tractor Supply
(
Free Report)
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.
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