Lee Danner & Bass Inc. Has $729,000 Stock Holdings in Tractor Supply (NASDAQ:TSCO)

Lee Danner & Bass Inc. boosted its stake in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 400.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,745 shares of the specialty retailer's stock after purchasing an additional 10,996 shares during the quarter. Lee Danner & Bass Inc.'s holdings in Tractor Supply were worth $729,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in shares of Tractor Supply during the fourth quarter valued at approximately $329,458,000. Meridiem Investment Management Ltd. raised its position in Tractor Supply by 398.9% in the fourth quarter. Meridiem Investment Management Ltd. now owns 5,118,785 shares of the specialty retailer's stock worth $271,674,000 after acquiring an additional 4,092,808 shares in the last quarter. Amundi raised its position in Tractor Supply by 495.2% in the fourth quarter. Amundi now owns 4,145,992 shares of the specialty retailer's stock worth $225,501,000 after acquiring an additional 3,449,442 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Tractor Supply by 403.3% in the 4th quarter. Bank of New York Mellon Corp now owns 3,912,752 shares of the specialty retailer's stock valued at $207,611,000 after acquiring an additional 3,135,384 shares during the last quarter. Finally, Alecta Tjanstepension Omsesidigt boosted its position in shares of Tractor Supply by 400.0% during the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 3,750,000 shares of the specialty retailer's stock valued at $199,012,000 after purchasing an additional 3,000,000 shares in the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of research firms recently commented on TSCO. Bank of America boosted their target price on shares of Tractor Supply from $44.00 to $53.00 and gave the stock an "underperform" rating in a report on Thursday, January 16th. Truist Financial decreased their price target 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. Guggenheim reiterated a "buy" rating and set a $60.00 price objective on shares of Tractor Supply in a research 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 on the stock in a report on Monday, December 30th. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and set a $67.00 target price on shares of Tractor Supply in a research report on Thursday, January 30th. 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 currently has an average rating of "Moderate Buy" and an average target price of $59.22.

Insider Buying and Selling

In related news, CFO Kurt D. Barton sold 12,146 shares of Tractor Supply stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $56.00, for a total value of $680,176.00. Following the completion of the sale, the chief financial officer now owns 47,715 shares of the company's stock, valued at approximately $2,672,040. The trade was a 20.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Matthew L. Rubin sold 3,850 shares of the company's 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 completion of the sale, the senior vice president now owns 31,787 shares of the company's stock, valued at $1,833,792.03. This represents a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 137,993 shares of company stock worth $7,538,068. Insiders own 0.58% of the company's stock.

Tractor Supply Stock Down 1.3 %

Shares of NASDAQ:TSCO traded down $0.70 during trading on Tuesday, reaching $52.83. 3,243,363 shares of the company traded hands, compared to its average volume of 4,896,553. The firm has a fifty day simple moving average of $55.00 and a 200 day simple moving average of $55.67. 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 has a 1-year low of $48.30 and a 1-year high of $61.53. The firm has a market cap of $28.21 billion, a P/E ratio of 25.90, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share (EPS) 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%. Analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current fiscal 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 paid a $0.92 dividend. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 annualized dividend and a dividend yield of 6.97%. Tractor Supply's payout ratio is presently 45.10%.

Tractor Supply announced that its Board of Directors has authorized a share repurchase program on Thursday, February 13th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the specialty retailer to buy up to 3.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its shares are 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.