Invesco Ltd. Acquires 7,040,165 Shares of Tractor Supply (NASDAQ:TSCO)

Invesco Ltd. grew its stake in Tractor Supply (NASDAQ:TSCO - Free Report) by 407.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,766,224 shares of the specialty retailer's stock after buying an additional 7,040,165 shares during the period. Invesco Ltd. owned 1.64% of Tractor Supply worth $465,136,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in TSCO. Smithfield Trust Co raised its holdings 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 during the last quarter. PrairieView Partners LLC raised its stake 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 buying an additional 400 shares during the last quarter. Future Financial Wealth Managment LLC raised its stake in 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 buying an additional 400 shares during the last quarter. Archer Investment Corp lifted its holdings in Tractor Supply by 400.0% in the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock valued at $27,000 after buying an additional 400 shares during the period. Finally, Kentucky Trust Co bought a new stake in Tractor Supply during the fourth quarter valued at $27,000. 98.72% of the stock is currently owned by institutional investors.

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Insider Buying and Selling at Tractor Supply

In other news, CEO Harry A. Lawton III sold 88,095 shares of the stock in a transaction that occurred on 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 directly owns 488,852 shares of the company's stock, valued at $26,686,430.68. This represents a 15.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 31,787 shares in the company, valued at $1,833,792.03. This trade represents a 10.80 % decrease in their position. 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 company insiders.

Analysts Set New Price Targets

TSCO has been the subject of several research analyst reports. Barclays lowered their price objective 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. JPMorgan Chase & Co. lifted their target price on Tractor Supply from $58.00 to $59.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Guggenheim restated a "buy" rating and set a $60.00 price target on shares of Tractor Supply in a report on Friday, January 31st. Bank of America lifted 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. Finally, Stephens assumed coverage on shares of Tractor Supply in a research note on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Tractor Supply presently has an average rating of "Moderate Buy" and an average target price of $59.07.

Tractor Supply Stock Up 1.0 %

Shares of NASDAQ TSCO traded up $0.51 during trading on Monday, hitting $52.18. The stock had a trading volume of 957,396 shares, compared to its average volume of 5,113,034. The firm has a fifty day moving average of $54.07 and a two-hundred day moving average of $55.35. The company has a market capitalization of $27.74 billion, a PE ratio of 25.58, a PEG ratio of 2.95 and a beta of 0.88. 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 12 month low of $46.97 and a 12 month high of $61.53.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.28 by ($1.84). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. As a group, equities research analysts forecast that Tractor Supply will post 2.17 EPS for the current fiscal year.

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

Tractor Supply Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were given a $0.92 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 annualized dividend and a yield of 7.05%. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's payout ratio is currently 45.10%.

About Tractor Supply

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.