Bank of America Corp DE Acquires 2,466,875 Shares of Tractor Supply (NASDAQ:TSCO)

Bank of America Corp DE raised its holdings in Tractor Supply (NASDAQ:TSCO - Free Report) by 246.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 3,468,293 shares of the specialty retailer's stock after acquiring an additional 2,466,875 shares during the quarter. Bank of America Corp DE owned approximately 0.65% of Tractor Supply worth $184,028,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Smithfield Trust Co lifted its stake in Tractor Supply by 286.2% in the 4th quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock worth $25,000 after purchasing an additional 352 shares in the last quarter. Coppell Advisory Solutions LLC raised its position in Tractor Supply by 944.4% in the 4th quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer's stock worth $25,000 after purchasing an additional 425 shares during the period. PrairieView Partners LLC lifted its stake in shares of Tractor Supply by 400.0% in the 4th quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer's stock valued at $26,000 after acquiring an additional 400 shares during the last quarter. Future Financial Wealth Managment LLC boosted its stake in shares of Tractor Supply by 400.0% during the fourth quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer's stock valued at $27,000 after purchasing an additional 400 shares during the period. Finally, Archer Investment Corp raised its stake in shares of Tractor Supply by 400.0% during the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock valued at $27,000 after acquiring an additional 400 shares during the last quarter. Institutional investors own 98.72% of the company's stock.

Tractor Supply Trading Down 1.4%

Shares of NASDAQ:TSCO traded down $0.73 during mid-day trading on Wednesday, hitting $51.58. The stock had a trading volume of 2,378,201 shares, compared to its average volume of 5,148,645. The company has a market cap of $27.42 billion, a PE ratio of 25.28, a P/E/G ratio of 2.95 and a beta of 0.82. The company's 50 day moving average is $51.87 and its 200-day moving average is $54.11. 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 has a 12-month low of $46.85 and a 12-month high of $61.53.

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

Tractor Supply announced that its Board of Directors has approved a stock 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 repurchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, CFO Kurt D. Barton sold 12,146 shares of the firm's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $56.00, for a total value of $680,176.00. Following the sale, the chief financial officer now directly owns 47,715 shares of the company's stock, valued at $2,672,040. This trade represents a 20.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Matthew L. Rubin sold 3,850 shares of the business's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $57.69, for a total value of $222,106.50. Following 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 position. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Bank of America raised their target price on shares of Tractor Supply from $44.00 to $53.00 and gave the company an "underperform" rating in a research note on Thursday, January 16th. Mizuho cut their price target on Tractor Supply from $62.00 to $58.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Telsey Advisory Group set a $60.00 price target on Tractor Supply in a report on Friday, April 25th. Raymond James decreased their price objective on shares of Tractor Supply from $61.00 to $57.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Finally, Robert W. Baird cut their price objective on shares of Tractor Supply from $63.00 to $56.00 and set an "outperform" rating for the company in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Tractor Supply presently has a consensus rating of "Moderate Buy" and an average price target of $58.02.

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.