Tractor Supply (NASDAQ:TSCO) Shares Bought by Waverly Advisors LLC

Waverly Advisors LLC increased its position in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 778.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,907 shares of the specialty retailer's stock after purchasing an additional 21,186 shares during the quarter. Waverly Advisors LLC's holdings in Tractor Supply were worth $1,269,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TSCO. Vanguard Group Inc. raised its position in shares of Tractor Supply by 392.5% in 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 purchasing an additional 51,031,178 shares during the period. Wellington Management Group LLP lifted 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 worth $1,262,258,000 after purchasing an additional 19,048,385 shares during the period. Alliancebernstein L.P. lifted its position in Tractor Supply by 403.3% during 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 acquiring an additional 17,834,643 shares during the period. Capital World Investors increased its stake in 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 grew its stake in shares of Tractor Supply by 334.7% in the fourth quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer's stock worth $818,421,000 after acquiring an additional 11,880,010 shares during the period. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tractor Supply

In related news, SVP Matthew L. Rubin sold 2,810 shares of the 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 completion of the transaction, the senior vice president now directly owns 29,722 shares of the company's stock, valued at $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 available through this hyperlink. 0.65% of the stock is currently owned by insiders.

Tractor Supply Trading Up 1.4%

TSCO stock traded up $0.68 during mid-day trading on Tuesday, reaching $50.38. 6,118,191 shares of the stock traded hands, compared to its average volume of 5,150,957. 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 one year low of $46.85 and a one year high of $61.53. The stock has a market capitalization of $26.71 billion, a PE ratio of 24.70, a PEG ratio of 2.95 and a beta of 0.82. The business has a 50-day moving average price of $51.43 and a two-hundred day moving average price of $53.86.

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). The company had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.55 billion. Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. 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 company posted $1.83 earnings per share. Equities research analysts expect that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply declared that its Board of Directors has approved a stock buyback plan 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 plans are often a sign that the company's leadership believes its stock is undervalued.

Tractor Supply Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors 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 1.83%. The ex-dividend date is Wednesday, May 28th. Tractor Supply's payout ratio is currently 45.77%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TSCO shares. 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 research note on Monday, April 28th. Citigroup dropped their price objective on shares of Tractor Supply from $59.00 to $51.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. Guggenheim dropped their price objective on shares of Tractor Supply from $60.00 to $55.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Telsey Advisory Group set a $60.00 price objective on shares of Tractor Supply in a report on Friday, April 25th. Finally, UBS Group set a $54.00 price objective on shares of Tractor Supply in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $58.02.

About Tractor Supply

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.