MetLife Investment Management LLC lifted its stake in Tractor Supply (NASDAQ:TSCO - Free Report) by 406.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 166,803 shares of the specialty retailer's stock after purchasing an additional 133,845 shares during the period. MetLife Investment Management LLC's holdings in Tractor Supply were worth $8,851,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in TSCO. Vanguard Group Inc. increased its holdings in shares of Tractor Supply by 392.5% during the fourth quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer's stock valued at $3,397,643,000 after acquiring an additional 51,031,178 shares in the last quarter. Wellington Management Group LLP raised its holdings in Tractor Supply by 401.8% in the 4th quarter. Wellington Management Group LLP now owns 23,789,249 shares of the specialty retailer's stock worth $1,262,258,000 after acquiring an additional 19,048,385 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of Tractor Supply by 403.3% in the 4th quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer's stock worth $1,180,932,000 after purchasing an additional 17,834,643 shares in the last quarter. Capital World Investors boosted its position in shares of Tractor Supply by 403.7% during the fourth quarter. Capital World Investors now owns 19,433,135 shares of the specialty retailer's stock valued at $1,031,122,000 after buying an additional 15,575,311 shares during the last quarter. Finally, Capital International Investors boosted its holdings in shares of Tractor Supply by 334.7% during the 4th quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer's stock valued at $818,421,000 after acquiring an additional 11,880,010 shares during the last quarter. Hedge funds and other institutional investors own 98.72% of the company's stock.
Tractor Supply Price Performance
Shares of NASDAQ TSCO traded up $0.92 during midday trading on Friday, reaching $49.92. 6,948,963 shares of the stock traded hands, compared to its average volume of 5,151,603. The company's 50 day moving average is $53.19 and its 200 day moving average is $54.88. Tractor Supply has a one year low of $46.85 and a one year high of $61.53. 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 stock has a market capitalization of $26.54 billion, a PE ratio of 24.47, a P/E/G ratio of 2.95 and a beta of 0.88.
Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.03). The business had revenue of $3.47 billion during the quarter, compared to analysts' expectations of $3.55 billion. Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. On average, equities research analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current year.
Tractor Supply Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 7.37%. This is a positive change from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. Tractor Supply's payout ratio is presently 45.77%.
Tractor Supply announced that its board has authorized a stock buyback plan on Thursday, February 13th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the specialty retailer to buy up to 3.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.
Analyst Upgrades and Downgrades
TSCO has been the topic of several research reports. Barclays dropped their target price on shares of Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating on the stock in a report on Monday, December 30th. Guggenheim cut their price target on Tractor Supply from $60.00 to $55.00 and set a "buy" rating for the company in a research note on Friday. Robert W. Baird lowered their price objective on shares of Tractor Supply from $63.00 to $56.00 and set an "outperform" rating on the stock in a research note on Friday. Stephens began coverage on shares of Tractor Supply in a report on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 target price for the company. Finally, 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 report on Thursday, January 16th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $57.88.
Get Our Latest Research Report on TSCO
Insider Activity
In other Tractor Supply news, CEO Harry A. Lawton III sold 88,095 shares of the company's stock in a transaction on 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 transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $57.69, for a total value of $222,106.50. Following the sale, the senior vice president now 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 137,993 shares of company stock valued at $7,538,068. 0.65% of the stock is currently owned by company insiders.
About Tractor Supply
(
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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