Laird Norton Wetherby Wealth Management LLC Acquires 7,908 Shares of Tractor Supply (NASDAQ:TSCO)

Laird Norton Wetherby Wealth Management LLC boosted its stake in Tractor Supply (NASDAQ:TSCO - Free Report) by 397.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,899 shares of the specialty retailer's stock after buying an additional 7,908 shares during the quarter. Laird Norton Wetherby Wealth Management LLC's holdings in Tractor Supply were worth $525,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of TSCO. Vanguard Group Inc. lifted its position in Tractor Supply by 392.5% during the 4th quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer's stock worth $3,397,643,000 after acquiring an additional 51,031,178 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Tractor Supply by 401.8% during 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. increased its holdings in shares of Tractor Supply by 403.3% during the 4th quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer's stock worth $1,180,932,000 after purchasing an additional 17,834,643 shares during the period. Capital World Investors increased its holdings 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 worth $1,031,122,000 after purchasing an additional 15,575,311 shares during the period. Finally, Capital International Investors increased its holdings 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 worth $818,421,000 after purchasing an additional 11,880,010 shares during the period. Institutional investors and hedge funds own 98.72% of the company's stock.

Tractor Supply Stock Down 2.2%

Tractor Supply stock traded down $1.16 during midday trading on Tuesday, hitting $51.76. 2,811,302 shares of the stock were exchanged, compared to its average volume of 5,459,384. Tractor Supply has a 52-week low of $46.85 and a 52-week high of $61.53. The stock has a market capitalization of $27.44 billion, a price-to-earnings ratio of 25.25, a price-to-earnings-growth ratio of 2.95 and a beta of 0.82. 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 quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued 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 net margin of 7.40% and a return on equity of 49.01%. The firm had revenue of $3.47 billion for the quarter, compared to analysts' expectations of $3.55 billion. During the same period in the prior year, the company earned $1.83 EPS. The firm's quarterly revenue was up 2.1% on a year-over-year basis. On average, research analysts expect that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply declared that its board has approved a stock buyback program on Thursday, February 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the specialty retailer to purchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its shares are undervalued.

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 issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.78%. The ex-dividend date is Wednesday, May 28th. Tractor Supply's dividend payout ratio (DPR) is presently 45.77%.

Insider Buying and Selling

In related 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 completion of 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.65% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. 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. UBS Group set a $54.00 price objective on shares of Tractor Supply in a report on Friday, April 25th. Robert W. Baird dropped their price objective 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. Truist Financial dropped their price objective on shares of Tractor Supply from $63.00 to $60.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Finally, Stephens started coverage on shares of Tractor Supply in a report on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target 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.