Tractor Supply (NASDAQ:TSCO) Stake Increased by Hsbc Holdings PLC

Hsbc Holdings PLC raised its stake in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 508.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,937,173 shares of the specialty retailer's stock after acquiring an additional 1,618,756 shares during the quarter. Hsbc Holdings PLC owned approximately 0.36% of Tractor Supply worth $102,769,000 at the end of the most recent quarter.

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

Tractor Supply Price Performance

NASDAQ TSCO opened at $50.71 on Thursday. The firm has a market capitalization of $26.96 billion, a PE ratio of 24.86, 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 $46.97 and a 12 month high of $61.53. The company's 50 day simple moving average is $53.36 and its 200 day simple moving average is $54.94.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 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 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 7.26%. 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 presently 45.10%.

Tractor Supply announced that its board has initiated a share buyback plan 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 plans are usually a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have commented on TSCO shares. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $67.00 price objective on shares of Tractor Supply in a report on Thursday, April 17th. Truist Financial decreased their price target on shares of Tractor Supply from $63.00 to $60.00 and set a "buy" rating for the company in a report on Friday, January 31st. Bank of America increased their price objective on shares of Tractor Supply from $44.00 to $53.00 and gave the stock an "underperform" rating in a research note on Thursday, January 16th. Barclays decreased their target price on Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating for the company in a research note on Monday, December 30th. Finally, Stephens assumed coverage on Tractor Supply in a research report on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 price target on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $59.07.

Insiders Place Their Bets

In other news, SVP Matthew L. Rubin sold 3,850 shares of the firm's stock in a transaction 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 of the company's stock, valued at $1,833,792.03. This trade represents a 10.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Harry A. Lawton III sold 88,095 shares of the business'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 sale, the chief executive officer now directly owns 488,852 shares in the company, valued at $26,686,430.68. This trade represents a 15.27 % 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. 0.65% of the stock is owned by insiders.

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.

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