MML Investors Services LLC Raises Stock Holdings in Tractor Supply (NASDAQ:TSCO)

MML Investors Services LLC lifted its holdings in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 417.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 84,723 shares of the specialty retailer's stock after purchasing an additional 68,334 shares during the period. MML Investors Services LLC's holdings in Tractor Supply were worth $4,495,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in TSCO. Smithfield Trust Co lifted its holdings in shares of Tractor Supply by 286.2% during the fourth 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. Future Financial Wealth Managment LLC boosted its holdings in shares of Tractor Supply by 400.0% during the 4th quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer's stock valued at $27,000 after acquiring an additional 400 shares during the last quarter. Archer Investment Corp grew its stake in shares of Tractor Supply by 400.0% in the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock worth $27,000 after acquiring an additional 400 shares during the period. PrairieView Partners LLC raised its holdings in shares of Tractor Supply by 400.0% during the fourth 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. Finally, Kentucky Trust Co bought a new position in Tractor Supply during the fourth quarter valued at approximately $27,000. Hedge funds and other institutional investors own 98.72% of the company's stock.

Insider Buying and Selling at Tractor Supply

In other news, SVP Matthew L. Rubin sold 3,850 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $57.69, for a total transaction of $222,106.50. Following the sale, the senior vice president now directly owns 31,787 shares in the company, valued at approximately $1,833,792.03. This represents a 10.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Melissa Kersey sold 9,300 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $53.17, for a total transaction of $494,481.00. Following the completion of the transaction, the executive vice president now directly owns 34,961 shares of the company's stock, valued at approximately $1,858,876.37. The trade was a 21.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 137,993 shares of company stock worth $7,538,068 over the last 90 days. 0.65% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

TSCO has been the topic of a number of research reports. 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. Truist Financial cut their price objective on shares of Tractor Supply from $63.00 to $60.00 and set a "buy" rating for the company in a research report on Friday, January 31st. Telsey Advisory Group set a $60.00 target price on Tractor Supply in a report on Friday, April 25th. Robert W. Baird decreased their price objective on Tractor Supply from $63.00 to $56.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. lowered their price objective on Tractor Supply from $59.00 to $56.00 and set a "neutral" rating on the stock in a research report on Monday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $58.02.

Tractor Supply Price Performance

Shares of TSCO traded down $0.57 during midday trading on Thursday, hitting $50.05. 1,701,425 shares of the company traded hands, compared to its average volume of 5,120,847. Tractor Supply has a 52 week low of $46.85 and a 52 week high of $61.53. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. The firm has a 50 day moving average of $52.59 and a 200-day moving average of $54.59. The stock has a market cap of $26.61 billion, a price-to-earnings ratio of 24.56, a PEG ratio of 2.95 and a beta of 0.88.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced 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 the consensus estimate of $3.55 billion. During the same period in the previous year, the company posted $1.83 earnings per share. Tractor Supply's quarterly revenue was up 2.1% on a year-over-year basis. On average, analysts forecast that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply declared that its board has authorized a stock buyback plan on Thursday, February 13th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to reacquire up to 3.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board believes its stock is undervalued.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were paid a dividend of $0.92 per share. This is an increase from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a yield of 7.35%. Tractor Supply's dividend payout ratio is presently 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.