Novem Group Acquires New Holdings in Tractor Supply (NASDAQ:TSCO)

Novem Group bought a new stake in Tractor Supply (NASDAQ:TSCO - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 8,528 shares of the specialty retailer's stock, valued at approximately $452,000.

Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Tractor Supply by 392.5% during the fourth quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer's stock valued at $3,397,643,000 after acquiring an additional 51,031,178 shares during the period. Wellington Management Group LLP boosted its holdings in 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 valued at $1,262,258,000 after acquiring an additional 19,048,385 shares during the period. Alliancebernstein L.P. boosted its holdings in Tractor Supply by 403.3% during the fourth quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer's stock valued at $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% in the 4th quarter. Capital World Investors now owns 19,433,135 shares of the specialty retailer's stock worth $1,031,122,000 after buying an additional 15,575,311 shares during the period. Finally, Capital International Investors increased its position in Tractor Supply by 334.7% in the 4th quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer's stock worth $818,421,000 after buying an additional 11,880,010 shares during the period. Institutional investors own 98.72% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on TSCO. Robert W. Baird dropped their price target on Tractor Supply from $63.00 to $56.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. JPMorgan Chase & Co. reduced their price target on shares of Tractor Supply from $59.00 to $56.00 and set a "neutral" rating for the company in a report on Monday, April 28th. UBS Group set a $54.00 price target on shares of Tractor Supply in a report on Friday, April 25th. Truist Financial lowered their price target on Tractor Supply from $63.00 to $60.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Finally, Mizuho lowered their price target on Tractor Supply from $62.00 to $58.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $58.02.

Tractor Supply Price Performance

Tractor Supply stock opened at $49.67 on Friday. The business has a 50 day simple moving average of $51.55 and a 200 day simple moving average of $54.01. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. Tractor Supply has a one year low of $46.85 and a one year high of $61.53. The company has a market capitalization of $26.34 billion, a PE ratio of 24.35, a price-to-earnings-growth ratio of 2.95 and a beta of 0.82.

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

Tractor Supply Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $0.92 annualized dividend and a yield of 1.85%. Tractor Supply's dividend payout ratio is currently 45.77%.

Tractor Supply announced that its board has approved a share repurchase plan on Thursday, February 13th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the specialty retailer to buy 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 stock is undervalued.

Insiders Place Their Bets

In other Tractor Supply news, SVP Matthew L. Rubin sold 2,810 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $51.76, for a total value of $145,445.60. Following the transaction, the senior vice president now directly owns 29,722 shares of the company's stock, valued at approximately $1,538,410.72. This trade represents a 8.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.65% 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.

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