abrdn plc Buys 23,876 Shares of Tractor Supply (NASDAQ:TSCO)

abrdn plc increased its position in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 27.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 109,491 shares of the specialty retailer's stock after buying an additional 23,876 shares during the quarter. abrdn plc owned about 0.10% of Tractor Supply worth $23,544,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Wellington Management Group LLP grew its stake in shares of Tractor Supply by 9,370.6% in the 3rd quarter. Wellington Management Group LLP now owns 2,822,151 shares of the specialty retailer's stock valued at $573,038,000 after purchasing an additional 2,792,352 shares during the last quarter. Invesco Ltd. grew its stake in shares of Tractor Supply by 76.7% in the 3rd quarter. Invesco Ltd. now owns 2,024,182 shares of the specialty retailer's stock valued at $411,010,000 after purchasing an additional 878,874 shares during the last quarter. Stifel Financial Corp lifted its holdings in shares of Tractor Supply by 3.2% in the 3rd quarter. Stifel Financial Corp now owns 1,582,582 shares of the specialty retailer's stock valued at $321,354,000 after buying an additional 49,173 shares during the period. Northern Trust Corp lifted its holdings in shares of Tractor Supply by 4.7% in the 3rd quarter. Northern Trust Corp now owns 1,182,164 shares of the specialty retailer's stock valued at $240,038,000 after buying an additional 52,583 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Tractor Supply by 22.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,148,340 shares of the specialty retailer's stock valued at $233,170,000 after buying an additional 210,131 shares during the period. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Tractor Supply Trading Up 0.8 %

TSCO stock traded up $2.17 during trading on Wednesday, reaching $258.13. 1,321,543 shares of the stock traded hands, compared to its average volume of 1,152,812. The business's 50 day moving average price is $251.14 and its 200-day moving average price is $225.83. Tractor Supply has a 52-week low of $185.00 and a 52-week high of $268.02. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.50 and a quick ratio of 0.28. The firm has a market capitalization of $27.86 billion, a PE ratio of 25.58, a P/E/G ratio of 3.81 and a beta of 0.84.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its quarterly earnings results on Thursday, February 1st. The specialty retailer reported $2.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.22 by $0.06. Tractor Supply had a return on equity of 53.60% and a net margin of 7.61%. The firm had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.67 billion. During the same quarter in the previous year, the business earned $2.43 earnings per share. The firm's quarterly revenue was down 8.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Tractor Supply will post 10.2 earnings per share for the current year.

Tractor Supply Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend was Friday, February 23rd. This is a boost from Tractor Supply's previous quarterly dividend of $1.03. Tractor Supply's payout ratio is currently 43.61%.

Insiders Place Their Bets

In other Tractor Supply news, CEO Harry A. Lawton III sold 20,500 shares of the business's stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $232.93, for a total transaction of $4,775,065.00. Following the transaction, the chief executive officer now owns 95,192 shares in the company, valued at $22,173,072.56. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Kurt D. Barton sold 4,335 shares of the business's stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $257.00, for a total value of $1,114,095.00. Following the transaction, the chief financial officer now owns 20,678 shares in the company, valued at $5,314,246. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Harry A. Lawton III sold 20,500 shares of the business's stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $232.93, for a total value of $4,775,065.00. Following the completion of the transaction, the chief executive officer now owns 95,192 shares in the company, valued at approximately $22,173,072.56. The disclosure for this sale can be found here. Insiders have sold a total of 90,090 shares of company stock worth $21,201,877 over the last quarter. 0.58% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently commented on TSCO. Evercore ISI reduced their price target on Tractor Supply from $280.00 to $275.00 and set an "outperform" rating for the company in a report on Tuesday, April 16th. Stephens cut Tractor Supply from an "overweight" rating to an "equal weight" rating and raised their price target for the company from $226.00 to $240.00 in a report on Tuesday, January 23rd. Wells Fargo & Company raised their price target on Tractor Supply from $250.00 to $285.00 and gave the company an "overweight" rating in a report on Monday, March 25th. UBS Group raised their price target on Tractor Supply from $220.00 to $240.00 and gave the company a "neutral" rating in a report on Friday, February 2nd. Finally, Wedbush reaffirmed a "neutral" rating and set a $235.00 price objective on shares of Tractor Supply in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $241.65.

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.