Baird Financial Group Inc. Grows Position in Tractor Supply (NASDAQ:TSCO)

Baird Financial Group Inc. increased its position in Tractor Supply (NASDAQ:TSCO - Free Report) by 378.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,128,519 shares of the specialty retailer's stock after buying an additional 892,532 shares during the quarter. Baird Financial Group Inc. owned 0.21% of Tractor Supply worth $59,879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position 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 purchasing an additional 51,031,178 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Tractor Supply by 401.8% during the fourth quarter. Wellington Management Group LLP now owns 23,789,249 shares of the specialty retailer's stock worth $1,262,258,000 after acquiring an additional 19,048,385 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of Tractor Supply by 403.3% in the fourth quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer's stock worth $1,180,932,000 after acquiring an additional 17,834,643 shares during the period. Capital World Investors increased its position in Tractor Supply by 403.7% during the 4th quarter. Capital World Investors now owns 19,433,135 shares of the specialty retailer's stock valued at $1,031,122,000 after purchasing an additional 15,575,311 shares during the period. Finally, Capital International Investors raised its holdings in Tractor Supply by 334.7% during the 4th quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer's stock worth $818,421,000 after purchasing an additional 11,880,010 shares during the last quarter. Institutional investors own 98.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TSCO shares. Truist Financial decreased their price objective on shares of Tractor Supply from $63.00 to $60.00 and set a "buy" rating for the company in a research report on Friday, January 31st. Bank of America boosted their price objective on Tractor Supply from $44.00 to $53.00 and gave the company an "underperform" rating in a research note on Thursday, January 16th. UBS Group set a $54.00 target price on Tractor Supply in a report on Friday, April 25th. JPMorgan Chase & Co. cut their price objective on shares of Tractor Supply from $59.00 to $56.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Finally, Stephens started coverage on shares of Tractor Supply in a research note on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 price target for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Tractor Supply currently has an average rating of "Moderate Buy" and a consensus price target of $58.02.

Insider Transactions at Tractor Supply

In related news, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 31,787 shares in the company, valued at approximately $1,833,792.03. The trade was a 10.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Melissa Kersey sold 9,300 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $53.17, for a total value of $494,481.00. Following the sale, the executive vice president now owns 34,961 shares in the company, valued at approximately $1,858,876.37. This represents a 21.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,898 shares of company stock worth $2,728,962 over the last quarter. Corporate insiders own 0.65% of the company's stock.

Tractor Supply Stock Performance

NASDAQ TSCO traded down $0.06 during trading hours on Wednesday, reaching $50.96. 4,106,782 shares of the company were exchanged, compared to its average volume of 5,126,080. 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 stock has a market capitalization of $27.09 billion, a P/E ratio of 24.98, a P/E/G ratio of 2.95 and a beta of 0.82. Tractor Supply has a 1 year low of $46.85 and a 1 year high of $61.53. The business's 50 day simple moving average is $52.11 and its 200-day simple moving average is $54.27.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. The firm had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same period last year, the company posted $1.83 earnings per share. Tractor Supply's revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities research analysts expect that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 7.22%. The ex-dividend date of this dividend was Wednesday, February 26th. This is a positive change from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's dividend payout ratio (DPR) is currently 45.77%.

Tractor Supply declared that its board has approved a share repurchase 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 typically a sign that the company's management believes its shares are undervalued.

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.