Tractor Supply (NASDAQ:TSCO) Stock Holdings Lifted by Prudential Financial Inc.

Prudential Financial Inc. raised its stake in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 319.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 275,850 shares of the specialty retailer's stock after buying an additional 210,036 shares during the quarter. Prudential Financial Inc. owned about 0.05% of Tractor Supply worth $14,637,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Smithfield Trust Co lifted its holdings in Tractor Supply by 286.2% in the 4th quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock valued at $25,000 after purchasing an additional 352 shares in the last quarter. PrairieView Partners LLC boosted its position in Tractor Supply by 400.0% during the fourth quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer's stock worth $26,000 after acquiring an additional 400 shares during the last quarter. Future Financial Wealth Managment LLC grew its position in shares of Tractor Supply by 400.0% in the fourth quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer's stock valued at $27,000 after purchasing an additional 400 shares during the period. Archer Investment Corp boosted its stake in Tractor Supply by 400.0% in the 4th quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock worth $27,000 after buying an additional 400 shares during the last quarter. Finally, Kentucky Trust Co acquired a new stake in Tractor Supply in the 4th quarter worth about $27,000. Hedge funds and other institutional investors own 98.72% of the company's stock.

Remove Ads

Tractor Supply Stock Up 0.1 %

NASDAQ:TSCO traded up $0.03 on Tuesday, reaching $55.13. The stock had a trading volume of 4,991,376 shares, compared to its average volume of 5,068,530. The company has a 50-day moving average of $55.02 and a 200 day moving average of $55.64. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. The stock has a market cap of $29.44 billion, a P/E ratio of 27.02, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. Tractor Supply has a 12-month low of $48.30 and a 12-month high of $61.53.

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

Tractor Supply Increases Dividend

The business also recently declared 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 dividend yield of 6.68%. The ex-dividend date was Wednesday, February 26th. This is a positive change from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's payout ratio is 45.10%.

Tractor Supply announced that its Board of Directors has authorized a share buyback plan on Thursday, February 13th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the specialty retailer to purchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Tractor Supply from $58.00 to $59.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Truist Financial cut their price target on shares of Tractor Supply from $63.00 to $60.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Bank of America boosted their price objective on shares of Tractor Supply from $44.00 to $53.00 and gave the company an "underperform" rating in a research note on Thursday, January 16th. Mizuho increased their target price on Tractor Supply from $60.00 to $62.00 and gave the stock an "outperform" rating in a research report on Thursday, January 23rd. Finally, Loop Capital lifted their target price on Tractor Supply from $53.00 to $58.00 and gave the company a "hold" rating in a report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Tractor Supply presently has a consensus rating of "Moderate Buy" and a consensus price target of $59.22.

Insider Activity at Tractor Supply

In related news, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply stock in a transaction dated 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. This trade represents a 15.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Melissa Kersey sold 9,300 shares of the company's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $53.17, for a total value of $494,481.00. Following the sale, the executive vice president now owns 34,961 shares in the company, valued at $1,858,876.37. The trade was 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 valued at $7,538,068 over the last ninety days. Corporate insiders own 0.24% of the company's stock.

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.