Sterling Capital Management LLC Has $3.09 Million Stock Position in Tractor Supply (NASDAQ:TSCO)

Sterling Capital Management LLC increased its holdings in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 2,862.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 58,150 shares of the specialty retailer's stock after acquiring an additional 56,187 shares during the quarter. Sterling Capital Management LLC's holdings in Tractor Supply were worth $3,085,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pine Valley Investments Ltd Liability Co raised its position in shares of Tractor Supply by 7.1% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 978 shares of the specialty retailer's stock valued at $285,000 after buying an additional 65 shares in the last quarter. Smithfield Trust Co increased its stake in Tractor Supply by 286.2% during the 4th quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock worth $25,000 after acquiring an additional 352 shares during the period. Blue Trust Inc. raised its holdings in Tractor Supply by 28.2% in the 4th quarter. Blue Trust Inc. now owns 1,646 shares of the specialty retailer's stock valued at $87,000 after acquiring an additional 362 shares in the last quarter. Future Financial Wealth Managment LLC lifted its position in shares of Tractor Supply by 400.0% during the 4th quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer's stock valued at $27,000 after acquiring an additional 400 shares during the period. Finally, Archer Investment Corp grew its holdings in shares of Tractor Supply by 400.0% during the 4th quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 400 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TSCO. Mizuho boosted their price target on Tractor Supply from $60.00 to $62.00 and gave the company an "outperform" rating in a research note on Thursday, January 23rd. Truist Financial dropped their target price on shares of Tractor Supply from $63.00 to $60.00 and set a "buy" rating for the company in a research report on Friday, January 31st. Barclays reduced 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 research report on Monday, December 30th. Guggenheim restated a "buy" rating and set a $60.00 price objective on shares of Tractor Supply in a research report on Friday, January 31st. Finally, Telsey Advisory Group restated an "outperform" rating and set a $67.00 target price on shares of Tractor Supply in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $59.07.

Tractor Supply Trading Up 1.5 %

NASDAQ TSCO traded up $0.75 on Friday, hitting $50.11. The company's stock had a trading volume of 4,481,903 shares, compared to its average volume of 5,113,095. The firm has a market cap of $26.64 billion, a PE ratio of 24.56, a PEG ratio of 2.95 and a beta of 0.88. The company's 50-day moving average is $53.84 and its 200 day moving average is $55.19. 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 $46.97 and a 1-year high of $61.53.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its 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 return on equity of 49.01% and a net margin of 7.40%. As a group, analysts predict that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were issued a $0.92 dividend. The ex-dividend date was Wednesday, February 26th. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. This represents a $3.68 annualized dividend and a yield of 7.34%. Tractor Supply's dividend payout ratio is presently 45.10%.

Tractor Supply announced that its Board of Directors has approved a stock repurchase program on Thursday, February 13th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the specialty retailer to buy up to 3.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Tractor Supply

In other news, EVP Melissa Kersey sold 9,300 shares of the business's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $53.17, for a total value of $494,481.00. Following the transaction, the executive vice president now directly owns 34,961 shares of the company's stock, valued at $1,858,876.37. The trade was a 21.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $57.69, for a total value 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 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. In the last 90 days, insiders sold 137,993 shares of company stock valued at $7,538,068. 0.24% of the stock is currently owned by company insiders.

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.