Sei Investments Co. Buys 267,147 Shares of Tractor Supply (NASDAQ:TSCO)

Sei Investments Co. increased its position in Tractor Supply (NASDAQ:TSCO - Free Report) by 587.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 312,630 shares of the specialty retailer's stock after acquiring an additional 267,147 shares during the quarter. Sei Investments Co. owned about 0.06% of Tractor Supply worth $16,588,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in Tractor Supply in the 4th quarter valued at $329,458,000. Meridiem Investment Management Ltd. boosted its stake in Tractor Supply by 398.9% during the fourth quarter. Meridiem Investment Management Ltd. now owns 5,118,785 shares of the specialty retailer's stock valued at $271,674,000 after buying an additional 4,092,808 shares during the period. Amundi grew its position in Tractor Supply by 495.2% during the fourth quarter. Amundi now owns 4,145,992 shares of the specialty retailer's stock worth $225,501,000 after buying an additional 3,449,442 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Tractor Supply by 403.3% in the 4th quarter. Bank of New York Mellon Corp now owns 3,912,752 shares of the specialty retailer's stock worth $207,611,000 after acquiring an additional 3,135,384 shares during the last quarter. Finally, Alecta Tjanstepension Omsesidigt raised its holdings in shares of Tractor Supply by 400.0% in the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 3,750,000 shares of the specialty retailer's stock valued at $199,012,000 after acquiring an additional 3,000,000 shares in the last quarter. Hedge funds and other institutional investors own 98.72% of the company's stock.

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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 stock was sold at an average price of $54.59, for a total value of $4,809,106.05. Following the completion of the transaction, the chief executive officer now owns 488,852 shares in the company, valued at $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 available through this hyperlink. Also, EVP Colin Yankee sold 24,602 shares of the company's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $54.15, for a total value of $1,332,198.30. Following the completion of the sale, the executive vice president now directly owns 33,645 shares in the company, valued at approximately $1,821,876.75. The trade was a 42.24 % 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. Corporate insiders own 0.24% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Mizuho boosted their price objective on Tractor Supply from $60.00 to $62.00 and gave the stock an "outperform" rating in a report on Thursday, January 23rd. Barclays decreased their price target 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. Loop Capital lifted their price objective on shares of Tractor Supply from $53.00 to $58.00 and gave the stock a "hold" rating in a report on Thursday, December 12th. Bank of America increased their target price on Tractor Supply from $44.00 to $53.00 and gave the company an "underperform" rating in a research note on Thursday, January 16th. Finally, Guggenheim reaffirmed a "buy" rating and set a $60.00 price target on shares of Tractor Supply in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Tractor Supply presently has a consensus rating of "Moderate Buy" and a consensus price target of $59.22.

Tractor Supply Trading Up 0.1 %

Shares of Tractor Supply stock traded up $0.03 during trading on Tuesday, reaching $55.13. 4,991,376 shares of the stock were exchanged, compared to its average volume of 5,068,527. Tractor Supply has a 1 year low of $48.30 and a 1 year high of $61.53. The firm has a market cap of $29.44 billion, a price-to-earnings ratio of 27.02, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. The stock's fifty day moving average is $55.02 and its 200 day moving average is $55.64.

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 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 expect that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

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

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were given a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 6.68%. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, February 26th. Tractor Supply's dividend payout ratio (DPR) is currently 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.