Orion Portfolio Solutions LLC boosted its holdings in Tractor Supply (NASDAQ:TSCO - Free Report) by 391.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,184 shares of the specialty retailer's stock after purchasing an additional 39,174 shares during the period. Orion Portfolio Solutions LLC's holdings in Tractor Supply were worth $2,610,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. FMR LLC raised its stake in shares of Tractor Supply by 7.6% during the 3rd quarter. FMR LLC now owns 163,454 shares of the specialty retailer's stock worth $47,554,000 after purchasing an additional 11,584 shares in the last quarter. Public Sector Pension Investment Board raised its position in Tractor Supply by 12.0% during the third quarter. Public Sector Pension Investment Board now owns 4,664 shares of the specialty retailer's stock worth $1,357,000 after acquiring an additional 500 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in Tractor Supply by 0.5% in the third quarter. Rockefeller Capital Management L.P. now owns 27,710 shares of the specialty retailer's stock valued at $8,058,000 after acquiring an additional 141 shares during the last quarter. Edgestream Partners L.P. bought a new position in shares of Tractor Supply in the 3rd quarter valued at about $1,082,000. Finally, Erste Asset Management GmbH acquired a new position in shares of Tractor Supply during the 3rd quarter worth about $485,000. 98.72% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other news, CEO Harry A. Lawton III sold 88,095 shares of the firm'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 sale, the chief executive officer now directly owns 488,852 shares in the company, valued at approximately $26,686,430.68. This trade represents a 15.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Colin Yankee sold 24,602 shares of the company's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $54.15, for a total transaction of $1,332,198.30. Following the transaction, the executive vice president now owns 33,645 shares of the company's stock, valued at approximately $1,821,876.75. This represents a 42.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 137,993 shares of company stock worth $7,538,068. Insiders own 0.24% of the company's stock.
Tractor Supply Price Performance
TSCO stock traded down $3.37 during midday trading on Friday, reaching $52.40. The company had a trading volume of 7,533,363 shares, compared to its average volume of 5,081,966. Tractor Supply has a 1-year low of $48.30 and a 1-year high of $61.53. The stock has a 50 day moving average price of $54.84 and a 200-day moving average price of $55.62. 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 company has a market capitalization of $27.86 billion, a price-to-earnings ratio of 25.69, a price-to-earnings-growth ratio of 2.95 and a beta of 0.88.
Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its earnings results 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%. Equities research analysts expect that Tractor Supply will post 2.17 earnings per share for the current year.
Tractor Supply announced that its Board of Directors has authorized a share repurchase program on Thursday, February 13th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the specialty retailer to reacquire up to 3.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company's leadership believes its stock is undervalued.
Tractor Supply Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 7.02%. The ex-dividend date was Wednesday, February 26th. This is an increase from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's dividend payout ratio (DPR) is currently 45.10%.
Analysts Set New Price Targets
A number of research firms recently commented on TSCO. Mizuho lifted their price target on Tractor Supply from $60.00 to $62.00 and gave the stock an "outperform" rating in a report on Thursday, January 23rd. 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 research note on Friday, January 31st. Truist Financial dropped their price target on Tractor Supply from $63.00 to $60.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Barclays reduced their price objective on shares of 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. Finally, Loop Capital increased their price objective on shares of Tractor Supply from $53.00 to $58.00 and gave the company a "hold" rating in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.22.
Get Our Latest Stock Analysis on TSCO
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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