Tractor Supply (NASDAQ:TSCO) Shares Purchased by Lazard Asset Management LLC

Lazard Asset Management LLC grew its stake in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 146.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,630 shares of the specialty retailer's stock after acquiring an additional 12,847 shares during the quarter. Lazard Asset Management LLC's holdings in Tractor Supply were worth $1,146,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of TSCO. Vanguard Group Inc. increased its holdings in Tractor Supply by 392.5% in the 4th quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer's stock worth $3,397,643,000 after buying an additional 51,031,178 shares during the period. Wellington Management Group LLP increased its holdings in 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 worth $1,262,258,000 after buying an additional 19,048,385 shares during the period. Alliancebernstein L.P. increased its holdings in Tractor Supply by 403.3% in the 4th quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer's stock worth $1,180,932,000 after buying an additional 17,834,643 shares during the period. Capital World Investors increased its holdings 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 holdings 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 and hedge funds own 98.72% of the company's stock.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 2,810 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $51.76, for a total value of $145,445.60. Following the transaction, the senior vice president now owns 29,722 shares in the company, valued at approximately $1,538,410.72. This trade represents a 8.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.65% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on TSCO. Robert W. Baird cut their price target on shares of Tractor Supply from $63.00 to $56.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Stephens began coverage on Tractor Supply in a research report on Wednesday, April 9th. They issued an "equal weight" rating and a $56.00 price objective on the stock. Guggenheim lowered their price objective on Tractor Supply from $60.00 to $55.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Truist Financial lowered their price objective 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. Finally, UBS Group set a $54.00 price objective on Tractor Supply in a research report on Friday, April 25th. One equities 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $58.02.

Tractor Supply Trading Down 0.2%

Shares of NASDAQ:TSCO opened at $52.91 on Tuesday. The business's 50 day moving average price is $51.65 and its 200-day moving average price is $54.08. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. The firm has a market capitalization of $28.05 billion, a price-to-earnings ratio of 25.94, a price-to-earnings-growth 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.

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 analysts' consensus estimates of $0.37 by ($0.03). The firm had revenue of $3.47 billion during the quarter, compared to analysts' expectations of $3.55 billion. Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. The company's revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.83 EPS. On average, equities research analysts forecast that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply announced that its Board of Directors has initiated a share repurchase program on Thursday, February 13th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the specialty retailer to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

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 $0.23 dividend. The ex-dividend date is Wednesday, May 28th. This represents a $0.92 dividend on an annualized basis and a yield of 1.74%. Tractor Supply's payout ratio is currently 45.77%.

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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