O Shaughnessy Asset Management LLC Acquires 59,579 Shares of Tractor Supply (NASDAQ:TSCO)

O Shaughnessy Asset Management LLC increased its holdings in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 459.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 72,537 shares of the specialty retailer's stock after acquiring an additional 59,579 shares during the quarter. O Shaughnessy Asset Management LLC's holdings in Tractor Supply were worth $3,849,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Tractor Supply by 392.5% in the 4th quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer's stock worth $3,397,643,000 after buying an additional 51,031,178 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Tractor Supply by 391.0% in the fourth quarter. JPMorgan Chase & Co. now owns 10,821,654 shares of the specialty retailer's stock valued at $574,197,000 after acquiring an additional 8,617,869 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Tractor Supply during the 4th quarter valued at approximately $329,458,000. Norges Bank purchased a new stake in shares of Tractor Supply during the 4th quarter worth approximately $289,491,000. Finally, Meridiem Investment Management Ltd. raised its holdings in shares of Tractor Supply by 398.9% in the 4th quarter. Meridiem Investment Management Ltd. now owns 5,118,785 shares of the specialty retailer's stock worth $271,674,000 after purchasing an additional 4,092,808 shares during the period. Hedge funds and other institutional investors own 98.72% of the company's stock.

Remove Ads

Insider Activity at Tractor Supply

In other news, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $57.69, for a total value of $222,106.50. Following the transaction, the senior vice president now owns 31,787 shares in the company, valued at approximately $1,833,792.03. The trade was a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Harry A. Lawton III sold 88,095 shares of the stock in a transaction dated 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 owns 488,852 shares of the company's stock, valued at $26,686,430.68. This represents a 15.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 137,993 shares of company stock valued at $7,538,068. Insiders own 0.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Barclays decreased their target price on Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating for the company in a research report on Monday, December 30th. Guggenheim restated a "buy" rating and issued a $60.00 price objective on shares of Tractor Supply in a research note on Friday, January 31st. Loop Capital increased their target price on shares of Tractor Supply from $53.00 to $58.00 and gave the stock a "hold" rating in a research report on Thursday, December 12th. Truist Financial lowered 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 report on Friday, January 31st. Finally, Telsey Advisory Group reiterated an "outperform" rating and issued a $67.00 price objective on shares of Tractor Supply in a research note on Thursday, January 30th. Two research 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. Based on data from MarketBeat.com, Tractor Supply has a consensus rating of "Moderate Buy" and an average price target of $59.22.

Tractor Supply Price Performance

TSCO traded down $3.37 during trading on Friday, reaching $52.40. The stock had a trading volume of 7,533,363 shares, compared to its average volume of 5,086,192. The business has a 50-day moving average of $54.84 and a 200-day moving average of $55.61. Tractor Supply has a one year low of $48.30 and a one year high of $61.53. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. The stock has a market cap of $27.98 billion, a PE ratio of 25.69, a PEG ratio of 2.95 and a beta of 0.85.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 EPS 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 anticipate that Tractor Supply will post 2.17 EPS for the current fiscal year.

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

Tractor Supply Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were paid a $0.92 dividend. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 7.02%. Tractor Supply's dividend payout ratio is 45.10%.

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.