Ceeto Capital Group LLC raised its stake in Tractor Supply (NASDAQ:TSCO - Free Report) by 400.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,500 shares of the specialty retailer's stock after buying an additional 9,200 shares during the period. Ceeto Capital Group LLC's holdings in Tractor Supply were worth $610,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Tractor Supply by 392.5% during the 4th quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer's stock worth $3,397,643,000 after purchasing an additional 51,031,178 shares in the last quarter. Wellington Management Group LLP lifted its stake in Tractor Supply by 401.8% during the 4th quarter. Wellington Management Group LLP now owns 23,789,249 shares of the specialty retailer's stock valued at $1,262,258,000 after acquiring an additional 19,048,385 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Tractor Supply by 403.3% during the fourth quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer's stock valued at $1,180,932,000 after purchasing an additional 17,834,643 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Tractor Supply by 403.2% during the 4th quarter. Geode Capital Management LLC now owns 14,519,937 shares of the specialty retailer's stock worth $768,838,000 after buying an additional 11,634,249 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Tractor Supply by 391.0% during the 4th quarter. JPMorgan Chase & Co. now owns 10,821,654 shares of the specialty retailer's stock valued at $574,197,000 after purchasing an additional 8,617,869 shares during the last quarter. Institutional investors and hedge funds own 98.72% of the company's stock.
Analyst Ratings Changes
A number of research analysts have recently commented on the company. Guggenheim reaffirmed a "buy" rating and set a $60.00 price target on shares of Tractor Supply in a research report on Friday, January 31st. Mizuho lifted their price target on Tractor Supply from $60.00 to $62.00 and gave the company an "outperform" rating in a research report on Thursday, January 23rd. Telsey Advisory Group reissued an "outperform" rating and issued a $67.00 target price on shares of Tractor Supply in a research note on Thursday, January 30th. Bank of America lifted their price target 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. Finally, JPMorgan Chase & Co. boosted their price objective on Tractor Supply from $58.00 to $59.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Tractor Supply presently has a consensus rating of "Moderate Buy" and an average target price of $59.07.
Check Out Our Latest Stock Analysis on Tractor Supply
Tractor Supply Price Performance
TSCO traded up $0.50 during trading on Monday, hitting $52.17. The company's stock had a trading volume of 3,863,662 shares, compared to its average volume of 5,124,228. The firm has a market capitalization of $27.73 billion, a price-to-earnings ratio of 25.57, a P/E/G ratio of 2.95 and a beta of 0.88. The business's fifty day simple moving average is $54.04 and its 200 day simple moving average is $55.31. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. Tractor Supply has a twelve month low of $46.97 and a twelve month high of $61.53.
Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced 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 net margin of 7.40% and a return on equity of 49.01%. On average, equities research analysts forecast that Tractor Supply will post 2.17 EPS for the current fiscal year.
Tractor Supply Increases Dividend
The company also recently declared 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 dividend on an annualized basis and a yield of 7.05%. 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 is 45.10%.
Tractor Supply announced that its Board of Directors has authorized a share repurchase plan on Thursday, February 13th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the specialty retailer to purchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board of directors believes its shares are undervalued.
Insider Transactions at Tractor Supply
In other news, SVP Matthew L. Rubin sold 3,850 shares of the company'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 sale, the senior vice president now owns 31,787 shares of the company's stock, valued at approximately $1,833,792.03. This represents a 10.80 % 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, CEO Harry A. Lawton III sold 88,095 shares of the company's stock in a transaction dated 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 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 disclosure for this sale can be found here. Insiders sold a total of 137,993 shares of company stock worth $7,538,068 over the last ninety days. Company insiders own 0.24% of the company's stock.
Tractor Supply Profile
(
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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