Haverford Trust Co Grows Position in Tractor Supply (NASDAQ:TSCO)

Haverford Trust Co increased its position in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 379.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,935 shares of the specialty retailer's stock after buying an additional 7,863 shares during the period. Haverford Trust Co's holdings in Tractor Supply were worth $527,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Tractor Supply by 392.5% during the 4th quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer's stock worth $3,397,643,000 after acquiring an additional 51,031,178 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Tractor Supply during the fourth quarter worth $329,458,000. Meridiem Investment Management Ltd. increased its holdings in Tractor Supply by 398.9% in the fourth quarter. Meridiem Investment Management Ltd. now owns 5,118,785 shares of the specialty retailer's stock valued at $271,674,000 after buying an additional 4,092,808 shares during the last quarter. Amundi raised its stake in Tractor Supply by 495.2% in the fourth quarter. Amundi now owns 4,145,992 shares of the specialty retailer's stock valued at $225,501,000 after buying an additional 3,449,442 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Tractor Supply by 403.3% during the 4th quarter. Bank of New York Mellon Corp now owns 3,912,752 shares of the specialty retailer's stock worth $207,611,000 after buying an additional 3,135,384 shares during the last quarter. Institutional investors and hedge funds own 98.72% of the company's stock.

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Tractor Supply Stock Performance

NASDAQ TSCO traded down $0.69 during trading hours on Friday, hitting $53.47. 3,599,669 shares of the stock were exchanged, compared to its average volume of 5,054,910. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. The stock has a 50-day moving average of $55.03 and a 200 day moving average of $55.65. Tractor Supply has a 12-month low of $48.30 and a 12-month high of $61.53. The company has a market cap of $28.55 billion, a price-to-earnings ratio of 26.21, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its earnings results 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%. As a group, equities research analysts forecast that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply announced that its Board of Directors has initiated a share 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 purchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its shares are undervalued.

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 paid a $0.92 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a yield of 6.88%. This is a positive change from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's dividend payout ratio is presently 45.10%.

Insiders Place Their Bets

In related news, SVP Matthew L. Rubin sold 3,850 shares of the stock in a transaction on Thursday, February 20th. The stock was 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 $1,833,792.03. This trade represents a 10.80 % 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, CEO Harry A. Lawton III sold 88,095 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $54.59, for a total transaction of $4,809,106.05. Following the completion of the transaction, the chief executive officer now 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 137,993 shares of company stock valued at $7,538,068. Corporate insiders own 0.58% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on TSCO shares. Truist Financial cut their target price on Tractor Supply from $63.00 to $60.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Telsey Advisory Group restated an "outperform" rating and issued a $67.00 target price on shares of Tractor Supply in a report on Thursday, January 30th. Guggenheim reissued a "buy" rating and issued a $60.00 price target on shares of Tractor Supply in a research report on Friday, January 31st. Loop Capital upped their price objective on shares of Tractor Supply from $53.00 to $58.00 and gave the company a "hold" rating in a research note on Thursday, December 12th. Finally, 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. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Tractor Supply currently has a consensus rating of "Moderate Buy" and an average price target of $59.22.

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.