Tractor Supply (NASDAQ:TSCO) Shares Purchased by Motley Fool Wealth Management LLC

Motley Fool Wealth Management LLC lifted its holdings in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 386.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 121,344 shares of the specialty retailer's stock after purchasing an additional 96,411 shares during the quarter. Motley Fool Wealth Management LLC's holdings in Tractor Supply were worth $6,439,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TSCO. Vanguard Group Inc. grew its holdings in Tractor Supply by 392.5% during the 4th quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer's stock worth $3,397,643,000 after acquiring an additional 51,031,178 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Tractor Supply during the 4th quarter worth $329,458,000. Meridiem Investment Management Ltd. grew its stake in shares of Tractor Supply by 398.9% during the fourth quarter. Meridiem Investment Management Ltd. now owns 5,118,785 shares of the specialty retailer's stock worth $271,674,000 after purchasing an additional 4,092,808 shares in the last quarter. Wellington Management Group LLP increased its holdings in Tractor Supply by 3.5% in the third quarter. Wellington Management Group LLP now owns 4,740,864 shares of the specialty retailer's stock valued at $1,379,260,000 after buying an additional 161,503 shares during the last quarter. Finally, State Street Corp raised its stake in Tractor Supply by 1.1% in the third quarter. State Street Corp now owns 4,518,341 shares of the specialty retailer's stock valued at $1,314,521,000 after buying an additional 47,951 shares in the last quarter. Hedge funds and other institutional investors own 98.72% of the company's stock.

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Insider Activity at Tractor Supply

In other news, SVP Matthew L. Rubin sold 3,850 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $57.69, for a total transaction of $222,106.50. Following the completion of the transaction, the senior vice president now owns 31,787 shares in the company, valued at approximately $1,833,792.03. This represents a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kurt D. Barton sold 12,146 shares of Tractor Supply stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $56.00, for a total transaction of $680,176.00. Following the completion of the sale, the chief financial officer now owns 47,715 shares in the company, valued at approximately $2,672,040. This represents a 20.29 % 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 in the last 90 days. 0.58% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on TSCO shares. Barclays lowered their target price on shares of Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating for the company in a report on Monday, December 30th. Bank of America lifted their target price on Tractor Supply from $44.00 to $53.00 and gave the stock an "underperform" rating in a research report on Thursday, January 16th. Truist Financial decreased their target price on Tractor Supply from $63.00 to $60.00 and set a "buy" rating for the company in a research report on Friday, January 31st. Loop Capital lifted their price target on Tractor Supply from $53.00 to $58.00 and gave the stock a "hold" rating in a research report on Thursday, December 12th. Finally, JPMorgan Chase & Co. raised their target price 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. Two research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Tractor Supply has an average rating of "Moderate Buy" and a consensus price target of $59.22.

Tractor Supply Stock Performance

NASDAQ:TSCO traded down $0.69 during trading hours on Friday, reaching $53.47. 3,599,669 shares of the stock were exchanged, compared to its average volume of 5,054,910. The stock has a market capitalization of $28.55 billion, a P/E ratio of 26.21, a P/E/G ratio of 2.95 and a beta of 0.85. The firm has a 50 day simple moving average of $55.03 and a 200-day simple moving average of $55.65. 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 52 week low of $48.30 and a 52 week high of $61.53.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 EPS for the quarter, missing analysts' consensus estimates of $2.28 by ($1.84). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. As a group, sell-side analysts forecast that Tractor Supply will post 2.17 earnings per share 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 issued a $0.92 dividend. This is an increase 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 6.88%. Tractor Supply's dividend payout ratio (DPR) is 45.10%.

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

About Tractor Supply

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.