Snowden Capital Advisors LLC Increases Holdings in Tractor Supply (NASDAQ:TSCO)

Snowden Capital Advisors LLC raised its stake in Tractor Supply (NASDAQ:TSCO - Free Report) by 399.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,540 shares of the specialty retailer's stock after buying an additional 16,431 shares during the period. Snowden Capital Advisors LLC's holdings in Tractor Supply were worth $1,090,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Tractor Supply by 392.5% in the 4th quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer's stock valued at $3,397,643,000 after buying an additional 51,031,178 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Tractor Supply by 401.8% in the 4th quarter. Wellington Management Group LLP now owns 23,789,249 shares of the specialty retailer's stock valued at $1,262,258,000 after buying an additional 19,048,385 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of Tractor Supply by 403.3% in the 4th quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer's stock valued at $1,180,932,000 after buying an additional 17,834,643 shares during the last quarter. Capital World Investors boosted its position in shares of 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 in the last quarter. Finally, Capital International Investors boosted its position in shares of Tractor Supply by 334.7% during the 4th quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer's stock valued at $818,421,000 after purchasing an additional 11,880,010 shares in the last quarter. Institutional investors own 98.72% of the company's stock.

Insider Activity

In other news, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.65% of the stock is owned by company insiders.

Tractor Supply Stock Performance

Shares of TSCO traded down $1.56 on Wednesday, reaching $50.04. 5,460,259 shares of the company's stock traded hands, compared to its average volume of 5,140,518. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. The stock's 50 day simple moving average is $51.62 and its two-hundred day simple moving average is $54.04. Tractor Supply has a 52-week low of $46.85 and a 52-week high of $61.53. The stock has a market cap of $26.53 billion, a PE ratio of 24.53, a PEG ratio of 2.95 and a beta of 0.82.

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

Tractor Supply announced that its board has authorized 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 shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its stock is undervalued.

Tractor Supply Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Wednesday, May 28th. Tractor Supply's dividend payout ratio (DPR) is presently 45.77%.

Wall Street Analyst Weigh In

Several brokerages recently commented on TSCO. Robert W. Baird cut their target price 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. Telsey Advisory Group set a $60.00 target price on Tractor Supply in a research report on Friday, April 25th. Truist Financial cut their target price on Tractor Supply from $63.00 to $60.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Guggenheim dropped their price target on Tractor Supply from $60.00 to $55.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Finally, Citigroup dropped their price target on Tractor Supply from $59.00 to $51.00 and set a "neutral" rating on the stock in a research note on Friday, April 25th. 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 data from MarketBeat, Tractor Supply has a consensus rating of "Moderate Buy" and a consensus target price of $58.02.

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.