Schroder Investment Management Group Grows Stock Position in Tractor Supply (NASDAQ:TSCO)

Schroder Investment Management Group increased its holdings in Tractor Supply (NASDAQ:TSCO - Free Report) by 6,316.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 878,613 shares of the specialty retailer's stock after buying an additional 864,920 shares during the period. Schroder Investment Management Group owned about 0.16% of Tractor Supply worth $46,206,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in TSCO. Arrowstreet Capital Limited Partnership bought a new stake in Tractor Supply during the 4th quarter valued at $2,005,000. Strategy Asset Managers LLC raised its stake in shares of Tractor Supply by 405.8% in the fourth quarter. Strategy Asset Managers LLC now owns 6,060 shares of the specialty retailer's stock valued at $322,000 after acquiring an additional 4,862 shares during the last quarter. Intrust Bank NA boosted its holdings in Tractor Supply by 389.7% in the fourth quarter. Intrust Bank NA now owns 9,550 shares of the specialty retailer's stock valued at $507,000 after acquiring an additional 7,600 shares during the last quarter. Allstate Corp bought a new stake in shares of Tractor Supply in the 4th quarter valued at about $848,000. Finally, Brown Brothers Harriman & Co. increased its stake in Tractor Supply by 331.3% during the 4th quarter. Brown Brothers Harriman & Co. now owns 158,575 shares of the specialty retailer's stock worth $8,414,000 after purchasing an additional 121,812 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company's stock.

Insiders Place Their Bets

In other news, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply stock in a transaction on Monday, February 3rd. The stock was 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 directly owns 488,852 shares in the company, valued at approximately $26,686,430.68. The trade was a 15.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 sale, the senior vice president now owns 31,787 shares of the company's stock, valued at approximately $1,833,792.03. The trade was a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 137,993 shares of company stock worth $7,538,068. Corporate insiders own 0.24% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Truist Financial decreased their target price on shares of Tractor Supply from $63.00 to $60.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Barclays cut their price target 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. Bank of America upped their price objective on Tractor Supply from $44.00 to $53.00 and gave the company an "underperform" rating in a research report on Thursday, January 16th. Telsey Advisory Group restated an "outperform" rating and issued a $67.00 price target on shares of Tractor Supply in a research report on Thursday, January 30th. Finally, Mizuho increased their price target on shares of Tractor Supply from $60.00 to $62.00 and gave the company an "outperform" rating in a research report on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $59.22.

Tractor Supply Price Performance

Shares of TSCO stock traded up $0.49 during midday trading on Wednesday, reaching $55.62. 3,242,451 shares of the company traded hands, compared to its average volume of 5,064,176. The firm has a market cap of $29.70 billion, a PE ratio of 27.26, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. The firm's 50 day simple moving average is $54.98 and its two-hundred day simple moving average is $55.64. Tractor Supply has a 1-year low of $48.30 and a 1-year high of $61.53. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share (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%. On average, equities research analysts expect that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply announced that its Board of Directors has authorized a stock repurchase 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 reacquire up to 3.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Tractor Supply Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders 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. This represents a $3.68 annualized dividend and a dividend yield of 6.62%. The ex-dividend date of this dividend was Wednesday, February 26th. Tractor Supply's dividend payout ratio (DPR) is 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.