Tractor Supply (NASDAQ:TSCO) Position Raised by Victory Capital Management Inc.

Victory Capital Management Inc. grew its holdings in Tractor Supply (NASDAQ:TSCO - Free Report) by 346.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 271,441 shares of the specialty retailer's stock after acquiring an additional 210,584 shares during the period. Victory Capital Management Inc. owned about 0.05% of Tractor Supply worth $14,403,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of TSCO. Baldwin Investment Management LLC increased its position in shares of Tractor Supply by 0.3% in the 3rd quarter. Baldwin Investment Management LLC now owns 11,402 shares of the specialty retailer's stock valued at $3,317,000 after purchasing an additional 38 shares during the last quarter. Huntington National Bank lifted its holdings in Tractor Supply by 0.7% during the 3rd quarter. Huntington National Bank now owns 5,538 shares of the specialty retailer's stock worth $1,611,000 after buying an additional 41 shares during the last quarter. First Horizon Advisors Inc. boosted its position in shares of Tractor Supply by 13.2% during the 3rd quarter. First Horizon Advisors Inc. now owns 351 shares of the specialty retailer's stock worth $102,000 after acquiring an additional 41 shares in the last quarter. Harbour Investments Inc. increased its holdings in shares of Tractor Supply by 4.6% in the 3rd quarter. Harbour Investments Inc. now owns 958 shares of the specialty retailer's stock valued at $279,000 after acquiring an additional 42 shares during the last quarter. Finally, Cynosure Group LLC raised its position in shares of Tractor Supply by 2.8% during the 3rd quarter. Cynosure Group LLC now owns 1,529 shares of the specialty retailer's stock worth $445,000 after acquiring an additional 42 shares in the last quarter. Hedge funds and other institutional investors own 98.72% of the company's stock.

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Tractor Supply Price Performance

Shares of TSCO traded down $0.70 during mid-day trading on Thursday, reaching $51.66. 4,827,829 shares of the company's stock were exchanged, compared to its average volume of 5,409,740. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. Tractor Supply has a 52-week low of $48.30 and a 52-week high of $61.53. The company has a market cap of $27.59 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 2.95 and a beta of 0.85. The company has a 50-day simple moving average of $55.21 and a two-hundred day simple moving average of $55.77.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share for the quarter, missing the consensus estimate 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, sell-side analysts predict that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were given a $0.92 dividend. This is an increase from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 annualized dividend and a yield of 7.12%. Tractor Supply's dividend payout ratio (DPR) is 45.10%.

Tractor Supply announced that its Board of Directors has authorized a share buyback plan on Thursday, February 13th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the specialty retailer to purchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

TSCO has been the subject of a number of research analyst reports. Wells Fargo & Company lowered their price target on Tractor Supply from $65.00 to $64.00 and set an "overweight" rating for the company in a report on Monday, November 25th. Evercore ISI raised shares of Tractor Supply from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 15th. Barclays reduced their price target on shares of Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating for the company in a research report on Monday, December 30th. Mizuho raised 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. Finally, Bank of America boosted their target price on Tractor Supply from $44.00 to $53.00 and gave the company an "underperform" rating in a report on Thursday, January 16th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Tractor Supply has a consensus rating of "Moderate Buy" and an average price target of $59.22.

Insider Transactions at Tractor Supply

In other news, SVP Matthew L. Rubin sold 3,850 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 31,787 shares in the company, valued at approximately $1,833,792.03. This represents a 10.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kurt D. Barton sold 12,146 shares of Tractor Supply 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 completion of the sale, the chief financial officer now owns 47,715 shares of the company's stock, valued at approximately $2,672,040. This trade represents a 20.29 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,993 shares of company stock valued at $7,538,068. Corporate insiders own 0.24% of the company's stock.

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.