Russell Investments Group Ltd. Buys 342,831 Shares of Tractor Supply (NASDAQ:TSCO)

Russell Investments Group Ltd. boosted its holdings in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 927.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 379,785 shares of the specialty retailer's stock after buying an additional 342,831 shares during the period. Russell Investments Group Ltd. owned approximately 0.07% of Tractor Supply worth $20,137,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janus Henderson Group PLC boosted its holdings in Tractor Supply by 2.6% during the third quarter. Janus Henderson Group PLC now owns 14,557 shares of the specialty retailer's stock valued at $4,236,000 after acquiring an additional 363 shares during the period. National Bank of Canada FI lifted its position in Tractor Supply by 31.3% during the 3rd quarter. National Bank of Canada FI now owns 49,404 shares of the specialty retailer's stock valued at $14,373,000 after purchasing an additional 11,777 shares during the period. XTX Topco Ltd bought a new stake in shares of Tractor Supply in the 3rd quarter valued at about $220,000. MML Investors Services LLC increased its stake in Tractor Supply by 30.4% in the third quarter. MML Investors Services LLC now owns 16,389 shares of the specialty retailer's stock valued at $4,768,000 after purchasing an additional 3,817 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Tractor Supply by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,885,688 shares of the specialty retailer's stock valued at $837,156,000 after purchasing an additional 43,998 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 Tractor Supply news, EVP Colin Yankee sold 24,602 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $54.15, for a total value of $1,332,198.30. Following the completion of the transaction, the executive vice president now owns 33,645 shares in the company, valued at approximately $1,821,876.75. This represents a 42.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction, the chief executive officer now directly owns 488,852 shares of the company's stock, valued at $26,686,430.68. This represents a 15.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 137,993 shares of company stock worth $7,538,068 over the last 90 days. 0.24% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TSCO. 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. Stephens assumed coverage on shares of Tractor Supply in a report on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 target price on the stock. Barclays lowered their price objective on shares of Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating for the company in a research report on Monday, December 30th. Telsey Advisory Group reiterated an "outperform" rating and set a $67.00 price target on shares of Tractor Supply in a report on Thursday, January 30th. Finally, Bank of America increased their target price on shares of Tractor Supply from $44.00 to $53.00 and gave the company an "underperform" rating in a report on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $59.07.

Tractor Supply Price Performance

Shares of TSCO stock traded down $0.65 during trading hours on Tuesday, hitting $51.53. 888,771 shares of the company's stock were exchanged, compared to its average volume of 5,107,773. The company has a market capitalization of $27.39 billion, a PE ratio of 25.30, a PEG ratio of 2.95 and a beta of 0.88. 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 has a 12-month low of $46.97 and a 12-month high of $61.53. The business's 50 day simple moving average is $54.04 and its 200-day simple moving average is $55.31.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its quarterly earnings results 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%. On average, equities research analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply announced that its Board of Directors has authorized a share 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 buy up to 3.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its shares are undervalued.

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were paid a dividend of $0.92 per share. This is a positive change from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 7.14%. Tractor Supply's payout ratio is presently 45.10%.

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.