Tractor Supply (NASDAQ:TSCO) Shares Purchased by Trust Investment Advisors

Trust Investment Advisors raised its position in Tractor Supply (NASDAQ:TSCO - Free Report) by 372.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,545 shares of the specialty retailer's stock after acquiring an additional 24,084 shares during the quarter. Tractor Supply makes up approximately 1.0% of Trust Investment Advisors' portfolio, making the stock its 27th biggest position. Trust Investment Advisors' holdings in Tractor Supply were worth $1,621,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of TSCO. Vanguard Group Inc. increased its stake in 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 buying an additional 51,031,178 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Tractor Supply in the fourth quarter worth $329,458,000. Meridiem Investment Management Ltd. increased its position in shares of 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 worth $271,674,000 after acquiring an additional 4,092,808 shares during the period. Wellington Management Group LLP raised its stake in shares of Tractor Supply by 3.5% in the third quarter. Wellington Management Group LLP now owns 4,740,864 shares of the specialty retailer's stock valued at $1,379,260,000 after acquiring an additional 161,503 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Tractor Supply by 1.1% in the third quarter. State Street Corp now owns 4,518,341 shares of the specialty retailer's stock valued at $1,314,521,000 after acquiring an additional 47,951 shares in the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several brokerages have weighed in on TSCO. Truist Financial cut their price target on Tractor Supply from $63.00 to $60.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Bank of America upped their target price 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. JPMorgan Chase & Co. lifted their price target on shares of Tractor Supply from $58.00 to $59.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Telsey Advisory Group reissued an "outperform" rating and issued a $67.00 price objective on shares of Tractor Supply in a research report on Thursday, January 30th. Finally, Mizuho lifted their price objective on shares of Tractor Supply from $60.00 to $62.00 and gave the stock an "outperform" rating in a research report on Thursday, January 23rd. Two 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 stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $59.22.

Insiders Place Their Bets

In other Tractor Supply news, CFO Kurt D. Barton sold 12,146 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $56.00, for a total transaction of $680,176.00. Following the sale, the chief financial officer now owns 47,715 shares in the company, valued at approximately $2,672,040. This represents a 20.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Matthew L. Rubin sold 3,850 shares of the company's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total value of $222,106.50. Following the completion of the sale, the senior vice president now owns 31,787 shares in the company, valued at $1,833,792.03. This represents a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 137,993 shares of company stock worth $7,538,068. 0.58% of the stock is owned by corporate insiders.

Tractor Supply Price Performance

Tractor Supply stock traded down $0.69 during midday trading on Friday, reaching $53.47. The company's stock had a trading volume of 3,599,669 shares, compared to its average volume of 5,054,910. The firm has a market capitalization of $28.55 billion, a PE ratio of 26.21, a P/E/G ratio of 2.95 and a beta of 0.85. Tractor Supply has a fifty-two week low of $48.30 and a fifty-two week high of $61.53. The stock's 50 day simple moving average is $55.03 and its 200 day simple moving average is $55.65. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released 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%. On average, equities research analysts forecast that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were paid a $0.92 dividend. This is an increase from Tractor Supply's previous quarterly dividend of $0.22. This represents a $3.68 annualized dividend and a yield of 6.88%. 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 stock buyback 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 purchase up to 3.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

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.