Tractor Supply (NASDAQ:TSCO) Position Increased by Wellington Management Group LLP

Wellington Management Group LLP grew its stake in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 401.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,789,249 shares of the specialty retailer's stock after buying an additional 19,048,385 shares during the period. Wellington Management Group LLP owned 4.45% of Tractor Supply worth $1,262,258,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC raised its position in shares of Tractor Supply by 459.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 72,537 shares of the specialty retailer's stock valued at $3,849,000 after buying an additional 59,579 shares during the last quarter. Clearbridge Investments LLC raised its holdings in Tractor Supply by 410.1% in the 4th quarter. Clearbridge Investments LLC now owns 3,300,360 shares of the specialty retailer's stock valued at $175,117,000 after acquiring an additional 2,653,364 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake in shares of Tractor Supply by 385.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,089,542 shares of the specialty retailer's stock worth $59,260,000 after purchasing an additional 865,273 shares during the period. California Public Employees Retirement System lifted its stake in shares of Tractor Supply by 394.6% during the 4th quarter. California Public Employees Retirement System now owns 1,273,508 shares of the specialty retailer's stock worth $67,572,000 after purchasing an additional 1,016,031 shares during the period. Finally, Schroder Investment Management Group boosted its holdings in shares of Tractor Supply by 6,316.5% during the fourth quarter. Schroder Investment Management Group now owns 878,613 shares of the specialty retailer's stock worth $46,206,000 after purchasing an additional 864,920 shares during the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

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Tractor Supply Stock Up 0.1 %

Shares of TSCO traded up $0.03 during mid-day trading on Tuesday, reaching $55.13. 4,991,376 shares of the stock traded hands, compared to its average volume of 5,068,527. The stock has a fifty day simple moving average of $55.02 and a 200 day simple moving average of $55.64. Tractor Supply has a 12-month low of $48.30 and a 12-month high of $61.53. 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 firm has a market cap of $29.44 billion, a price-to-earnings ratio of 27.02, a P/E/G ratio of 2.95 and a beta of 0.85.

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 (EPS) 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%. Sell-side analysts expect that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply announced that its Board of Directors has initiated a stock 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 buy up to 3.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were issued a $0.92 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a yield of 6.68%. This is an increase from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's dividend payout ratio is currently 45.10%.

Insider Buying and Selling at Tractor Supply

In other news, EVP Melissa Kersey sold 9,300 shares of the business's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $53.17, for a total value of $494,481.00. Following the completion of the sale, the executive vice president now owns 34,961 shares of the company's stock, valued at approximately $1,858,876.37. The trade was a 21.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Matthew L. Rubin sold 3,850 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were 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 owns 31,787 shares in the company, valued at approximately $1,833,792.03. This trade represents a 10.80 % 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 in the last 90 days. 0.24% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

TSCO has been the topic of several recent analyst reports. Mizuho raised their price target on Tractor Supply from $60.00 to $62.00 and gave the stock an "outperform" rating in a research note on Thursday, January 23rd. Loop Capital raised their target price on shares of Tractor Supply from $53.00 to $58.00 and gave the stock a "hold" rating in a research report on Thursday, December 12th. Telsey Advisory Group restated an "outperform" rating and issued a $67.00 target price on shares of Tractor Supply in a report on Thursday, January 30th. 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. Finally, Bank of America lifted their price target on shares of Tractor Supply from $44.00 to $53.00 and gave the company an "underperform" rating in a report on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $59.22.

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.