LPL Financial LLC increased its position in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 482.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 973,523 shares of the specialty retailer's stock after acquiring an additional 806,504 shares during the quarter. LPL Financial LLC owned about 0.18% of Tractor Supply worth $51,655,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of TSCO. 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 purchasing an additional 352 shares in the last quarter. PrairieView Partners LLC increased its position in shares of 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 in the last quarter. Future Financial Wealth Managment LLC raised its holdings in shares of Tractor Supply by 400.0% during the fourth quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer's stock worth $27,000 after acquiring an additional 400 shares during the period. Archer Investment Corp lifted its position in Tractor Supply by 400.0% in the 4th quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock valued at $27,000 after acquiring an additional 400 shares in the last quarter. Finally, Kentucky Trust Co acquired a new position in Tractor Supply in the 4th quarter worth $27,000. Institutional investors and hedge funds own 98.72% of the company's stock.
Tractor Supply Stock Performance
Tractor Supply stock traded down $0.35 during trading hours on Tuesday, hitting $54.75. The company had a trading volume of 434,131 shares, compared to its average volume of 5,048,376. The firm has a 50-day moving average of $55.06 and a 200 day moving average of $55.65. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. The firm has a market cap of $29.24 billion, a PE ratio of 26.77, a PEG ratio of 2.95 and a beta of 0.85. Tractor Supply has a one year low of $48.30 and a one year high of $61.53.
Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its quarterly 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 return on equity of 49.01% and a net margin of 7.40%. On average, sell-side analysts expect that Tractor Supply will post 2.17 earnings per share for the current year.
Tractor Supply announced that its board has authorized 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 buy up to 3.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its stock is undervalued.
Tractor Supply Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 6.72%. This is a positive change 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 (DPR) is currently 45.10%.
Insiders Place Their Bets
In other news, SVP Matthew L. Rubin sold 3,850 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total transaction of $222,106.50. Following the transaction, the senior vice president now directly owns 31,787 shares of the company's stock, valued at approximately $1,833,792.03. This trade represents a 10.80 % 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 this hyperlink. Also, CEO Harry A. Lawton III sold 88,095 shares of the business'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 completion of the sale, the chief executive officer now 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 disclosure for this sale can be found here. Insiders sold 137,993 shares of company stock worth $7,538,068 in the last quarter. 0.24% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on TSCO. Barclays cut their price target on Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating on the stock in a report on Monday, December 30th. Bank of America upped their price target on Tractor Supply from $44.00 to $53.00 and gave the stock an "underperform" rating in a research report on Thursday, January 16th. Mizuho boosted their price objective on shares of Tractor Supply from $60.00 to $62.00 and gave the stock an "outperform" rating in a research report on Thursday, January 23rd. Guggenheim restated a "buy" rating and set a $60.00 target price on shares of Tractor Supply in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. boosted their price target on shares of Tractor Supply from $58.00 to $59.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $59.22.
Get Our Latest Analysis on Tractor Supply
Tractor Supply Company Profile
(
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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