Orleans Capital Management Corp LA Raises Position in Tractor Supply (NASDAQ:TSCO)

Orleans Capital Management Corp LA grew its holdings in Tractor Supply (NASDAQ:TSCO - Free Report) by 366.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 42,850 shares of the specialty retailer's stock after acquiring an additional 33,655 shares during the quarter. Orleans Capital Management Corp LA's holdings in Tractor Supply were worth $2,355,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of 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 purchasing an additional 51,031,178 shares in the last quarter. Wellington Management Group LLP grew its stake in Tractor Supply by 401.8% during the fourth quarter. Wellington Management Group LLP now owns 23,789,249 shares of the specialty retailer's stock worth $1,262,258,000 after buying an additional 19,048,385 shares in the last quarter. Alliancebernstein L.P. increased its holdings in Tractor Supply by 403.3% in the 4th quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer's stock valued at $1,180,932,000 after buying an additional 17,834,643 shares during the period. Geode Capital Management LLC raised its position in shares of Tractor Supply by 403.2% in the 4th quarter. Geode Capital Management LLC now owns 14,519,937 shares of the specialty retailer's stock valued at $768,838,000 after buying an additional 11,634,249 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Tractor Supply by 391.0% during the 4th quarter. JPMorgan Chase & Co. now owns 10,821,654 shares of the specialty retailer's stock worth $574,197,000 after acquiring an additional 8,617,869 shares during the period. 98.72% of the stock is currently owned by institutional investors and hedge funds.

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Insider Transactions at Tractor Supply

In related news, SVP Matthew L. Rubin sold 3,850 shares of the company's stock in a transaction on Thursday, February 20th. The shares were 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 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Harry A. Lawton III sold 88,095 shares of the business's stock in a transaction dated 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,993 shares of company stock valued at $7,538,068 over the last quarter. 0.24% of the stock is currently owned by company insiders.

Tractor Supply Stock Down 0.5 %

Shares of TSCO traded down $0.25 on Wednesday, reaching $47.77. The stock had a trading volume of 1,293,306 shares, compared to its average volume of 5,098,891. The company has a 50-day simple moving average of $54.30 and a 200-day simple moving average of $55.48. 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 capitalization of $25.40 billion, a price-to-earnings ratio of 23.33, a price-to-earnings-growth ratio of 2.95 and a beta of 0.88. Tractor Supply has a 12-month low of $47.06 and a 12-month 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 the consensus estimate of $2.28 by ($1.84). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. Sell-side analysts predict that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply announced that its Board of Directors has initiated 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 purchase up to 3.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were given 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 dividend on an annualized basis and a yield of 7.70%. Tractor Supply's dividend payout ratio is presently 45.10%.

Wall Street Analyst Weigh In

TSCO has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their target price on shares of Tractor Supply from $58.00 to $59.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Stephens assumed coverage on Tractor Supply in a report on Wednesday. They set an "equal weight" rating and a $56.00 price objective for the company. Loop Capital increased their target price on shares of Tractor Supply from $53.00 to $58.00 and gave the company a "hold" rating in a report on Thursday, December 12th. Truist Financial decreased their price target 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. Finally, Barclays lowered their price target on shares of Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating on the stock in a report on Monday, December 30th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $59.07.

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.