USS Investment Management Ltd raised its stake in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 231.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 90,905 shares of the specialty retailer's stock after purchasing an additional 63,478 shares during the period. USS Investment Management Ltd's holdings in Tractor Supply were worth $4,825,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. Smithfield Trust Co boosted its stake in Tractor Supply by 286.2% during the 4th quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock valued at $25,000 after purchasing an additional 352 shares during the last quarter. Blue Trust Inc. boosted its stake in Tractor Supply by 28.2% during the 4th quarter. Blue Trust Inc. now owns 1,646 shares of the specialty retailer's stock valued at $87,000 after purchasing an additional 362 shares during the last quarter. Dunhill Financial LLC boosted its stake in Tractor Supply by 325.8% during the 4th quarter. Dunhill Financial LLC now owns 511 shares of the specialty retailer's stock valued at $27,000 after purchasing an additional 391 shares during the last quarter. Archer Investment Corp boosted its stake in Tractor Supply by 400.0% during the 4th quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock valued at $27,000 after purchasing an additional 400 shares during the last quarter. Finally, PrairieView Partners LLC boosted its stake in Tractor Supply by 400.0% during the 4th quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer's stock valued at $26,000 after purchasing an additional 400 shares during the last quarter. Institutional investors and hedge funds own 98.72% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on TSCO. Guggenheim cut their target price 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. Stephens began coverage on Tractor Supply in a research note on Wednesday, April 9th. They issued an "equal weight" rating and a $56.00 target price on the stock. 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 note on Friday, January 31st. JPMorgan Chase & Co. cut their target price on Tractor Supply from $59.00 to $56.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. Finally, Citigroup cut their target price 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 research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $58.02.
Check Out Our Latest Analysis on TSCO
Insider Activity at Tractor Supply
In related news, SVP Matthew L. Rubin sold 2,810 shares of Tractor Supply stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $51.76, for a total transaction of $145,445.60. Following the completion of the sale, the senior vice president now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.65% of the stock is owned by corporate insiders.
Tractor Supply Price Performance
Tractor Supply stock opened at $49.67 on Friday. Tractor Supply has a one year low of $46.85 and a one year high of $61.53. The business has a fifty day moving average price of $51.55 and a 200-day moving average price 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. The firm has a market capitalization of $26.34 billion, a P/E ratio of 24.35, a PEG ratio of 2.95 and a beta of 0.82.
Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The specialty retailer reported $0.34 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 company had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.55 billion. During the same period in the previous year, the business earned $1.83 earnings per share. Tractor Supply's revenue was up 2.1% on a year-over-year basis. As a group, equities research analysts forecast that Tractor Supply will post 2.17 EPS for the current year.
Tractor Supply Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend is Wednesday, May 28th. Tractor Supply's dividend payout ratio is 45.77%.
Tractor Supply announced that its board has initiated a stock buyback plan on Thursday, February 13th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the specialty retailer to buy up to 3.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.
Tractor Supply Company Profile
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Free Report)
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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