Tractor Supply (NASDAQ:TSCO) Shares Bought by Select Equity Group L.P.

Select Equity Group L.P. boosted its stake in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 405.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,669,224 shares of the specialty retailer's stock after buying an additional 6,152,333 shares during the quarter. Tractor Supply makes up approximately 1.6% of Select Equity Group L.P.'s portfolio, making the stock its 22nd biggest position. Select Equity Group L.P. owned 1.44% of Tractor Supply worth $406,929,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of TSCO. FORA Capital LLC raised its holdings in shares of Tractor Supply by 434.1% in the fourth quarter. FORA Capital LLC now owns 35,526 shares of the specialty retailer's stock valued at $1,885,000 after purchasing an additional 28,875 shares during the last quarter. CIBC Private Wealth Group LLC boosted its position in Tractor Supply by 385.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,089,542 shares of the specialty retailer's stock worth $59,260,000 after purchasing an additional 865,273 shares during the period. BOK Financial Private Wealth Inc. boosted its position in Tractor Supply by 330.2% during the fourth quarter. BOK Financial Private Wealth Inc. now owns 21,355 shares of the specialty retailer's stock worth $1,133,000 after purchasing an additional 16,391 shares during the period. Gen Wealth Partners Inc boosted its position in Tractor Supply by 513.8% during the fourth quarter. Gen Wealth Partners Inc now owns 14,320 shares of the specialty retailer's stock worth $760,000 after purchasing an additional 11,987 shares during the period. Finally, Blueshift Asset Management LLC boosted its position in Tractor Supply by 571.8% during the fourth quarter. Blueshift Asset Management LLC now owns 66,815 shares of the specialty retailer's stock worth $3,545,000 after purchasing an additional 56,870 shares during the period. 98.72% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Matthew L. Rubin sold 2,810 shares of Tractor Supply stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $51.76, for a total transaction 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. The trade was a 8.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.65% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TSCO has been the subject of a number of research reports. Citigroup cut their target price on shares of Tractor Supply from $59.00 to $51.00 and set a "neutral" rating for the company in a research report on Friday, April 25th. Telsey Advisory Group set a $60.00 price objective on shares of Tractor Supply in a research report on Friday, April 25th. Robert W. Baird cut their price objective on shares of Tractor Supply from $63.00 to $56.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. JPMorgan Chase & Co. cut their price objective on shares of Tractor Supply from $59.00 to $56.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Finally, Guggenheim cut their price objective on shares of Tractor Supply from $60.00 to $55.00 and set a "buy" rating for the company in a research report on Friday, April 25th. 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 given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $58.02.

Tractor Supply Stock Down 2.5%

NASDAQ:TSCO traded down $1.31 during mid-day trading on Tuesday, reaching $51.60. The company's stock had a trading volume of 4,912,277 shares, compared to its average volume of 5,155,812. The firm has a market capitalization of $27.36 billion, a PE ratio of 25.29, a price-to-earnings-growth ratio of 2.95 and a beta of 0.82. The stock has a fifty day moving average of $51.65 and a 200-day moving average of $54.08. Tractor Supply has a 1 year low of $46.85 and a 1 year high of $61.53. 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 released its quarterly earnings results on Thursday, April 24th. The specialty retailer reported $0.34 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.03). The firm had revenue of $3.47 billion for the quarter, compared to analysts' expectations of $3.55 billion. Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. The business's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.83 earnings per share. Equities research analysts forecast that Tractor Supply will post 2.17 earnings per share for the current year.

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

Tractor Supply Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date is Wednesday, May 28th. Tractor Supply's dividend payout ratio is presently 45.77%.

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.