Price T Rowe Associates Inc. MD Raises Stock Holdings in Tractor Supply (NASDAQ:TSCO)

Price T Rowe Associates Inc. MD increased its stake in Tractor Supply (NASDAQ:TSCO - Free Report) by 287.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,417,152 shares of the specialty retailer's stock after acquiring an additional 7,729,628 shares during the quarter. Price T Rowe Associates Inc. MD owned about 1.95% of Tractor Supply worth $552,735,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Smithfield Trust Co lifted its stake in shares of Tractor Supply by 286.2% in the 4th quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock valued at $25,000 after purchasing an additional 352 shares during the period. PrairieView Partners LLC grew its position in Tractor Supply by 400.0% in the 4th quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer's stock worth $26,000 after purchasing an additional 400 shares in the last quarter. Future Financial Wealth Managment LLC raised its stake in shares of Tractor Supply by 400.0% during the 4th quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 400 shares during the period. Archer Investment Corp raised its holdings in shares of Tractor Supply by 400.0% in the 4th quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 400 shares during the period. Finally, Kentucky Trust Co purchased a new position in shares of Tractor Supply during the 4th quarter valued at $27,000. Institutional investors and hedge funds own 98.72% of the company's stock.

Tractor Supply Price Performance

NASDAQ TSCO traded down $0.92 on Monday, reaching $49.00. 6,417,434 shares of the company's stock traded hands, compared to its average volume of 5,119,981. The stock has a market cap of $26.05 billion, a PE ratio of 24.02, a P/E/G 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 $46.85 and a 12 month high of $61.53. The stock has a 50-day simple moving average of $53.04 and a 200 day simple moving average of $54.73.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.03). The business had revenue of $3.47 billion for the quarter, compared to analysts' expectations of $3.55 billion. Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. The business's quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.83 earnings per share. As a group, research analysts predict that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply declared that its Board of Directors has initiated a share buyback plan on Thursday, February 13th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to purchase up to 3.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.

Tractor Supply Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 7.51%. The ex-dividend date was Wednesday, February 26th. This is a positive change from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's dividend payout ratio is 45.77%.

Insider Transactions at Tractor Supply

In other Tractor Supply news, EVP Melissa Kersey sold 9,300 shares of the business's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $53.17, for a total value of $494,481.00. Following the transaction, the executive vice president now owns 34,961 shares in the company, valued at approximately $1,858,876.37. The trade was a 21.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Colin Yankee sold 24,602 shares of the stock in a transaction dated 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 sale, 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. Over the last 90 days, insiders have sold 137,993 shares of company stock worth $7,538,068. Insiders own 0.65% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on TSCO shares. Telsey Advisory Group reissued an "outperform" rating and issued a $67.00 price target on shares of Tractor Supply in a research report on Thursday. Truist Financial cut their price target on Tractor Supply from $63.00 to $60.00 and set a "buy" rating for the company in a report on Friday, January 31st. Robert W. Baird reduced their price target on Tractor Supply from $63.00 to $56.00 and set an "outperform" rating for the company in a research report on Friday. Guggenheim cut their target price on Tractor Supply from $60.00 to $55.00 and set a "buy" rating for the company in a research note on Friday. Finally, Mizuho decreased their price target on Tractor Supply from $62.00 to $58.00 and set an "outperform" rating on the stock in a research report on Friday. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $58.47.

Tractor Supply Company 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.