Teacher Retirement System of Texas boosted its position in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 41.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,510 shares of the specialty retailer's stock after purchasing an additional 10,144 shares during the period. Teacher Retirement System of Texas' holdings in Tractor Supply were worth $1,831,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Larson Financial Group LLC grew its position in Tractor Supply by 29.4% in the third quarter. Larson Financial Group LLC now owns 286 shares of the specialty retailer's stock worth $83,000 after acquiring an additional 65 shares during the period. D.A. Davidson & CO. increased its position in shares of Tractor Supply by 17.3% during the 3rd quarter. D.A. Davidson & CO. now owns 9,685 shares of the specialty retailer's stock worth $2,818,000 after purchasing an additional 1,430 shares during the last quarter. FMR LLC lifted its holdings in shares of Tractor Supply by 7.6% in the 3rd quarter. FMR LLC now owns 163,454 shares of the specialty retailer's stock worth $47,554,000 after acquiring an additional 11,584 shares during the last quarter. Quantbot Technologies LP grew its position in Tractor Supply by 1,054.7% in the 3rd quarter. Quantbot Technologies LP now owns 8,291 shares of the specialty retailer's stock valued at $2,412,000 after acquiring an additional 7,573 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in Tractor Supply in the 3rd quarter valued at about $144,000. 98.72% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the stock. Loop Capital boosted their price target on shares of Tractor Supply from $53.00 to $58.00 and gave the company a "hold" rating in a research report on Thursday, December 12th. Barclays reduced their target price on Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating for the company in a report on Monday, December 30th. JPMorgan Chase & Co. raised their price target on Tractor Supply from $58.00 to $59.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Truist Financial reduced their price objective on 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, Bank of America lifted 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 research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $59.22.
Get Our Latest Stock Analysis on Tractor Supply
Tractor Supply Price Performance
Tractor Supply stock traded up $1.12 during mid-day trading on Monday, reaching $54.59. The company had a trading volume of 961,668 shares, compared to its average volume of 5,039,572. The stock's 50-day simple moving average is $55.03 and its 200-day simple moving average is $55.66. The company has a market capitalization of $29.15 billion, a P/E ratio of 26.76, a P/E/G ratio of 2.95 and a beta of 0.85. 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 has a 1 year low of $48.30 and a 1 year 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 earnings per share 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 analysts predict that Tractor Supply will post 2.17 EPS for the current year.
Tractor Supply Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 6.74%. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, February 26th. Tractor Supply's dividend payout ratio is presently 45.10%.
Tractor Supply announced that its Board of Directors has approved a stock buyback program on Thursday, February 13th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the specialty retailer to repurchase up to 3.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.
Insider Activity
In related news, CEO Harry A. Lawton III sold 88,095 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 488,852 shares of the company's stock, valued at approximately $26,686,430.68. This trade represents a 15.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Melissa Kersey sold 9,300 shares of the company's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $53.17, for a total transaction 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. This trade represents a 21.01 % 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 ninety days. 0.24% of the stock is currently owned by insiders.
Tractor Supply Company Profile
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Free Report)
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.
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