Shell Asset Management Co. Grows Holdings in Tractor Supply (NASDAQ:TSCO)

Shell Asset Management Co. raised its stake in Tractor Supply (NASDAQ:TSCO - Free Report) by 481.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 33,395 shares of the specialty retailer's stock after purchasing an additional 27,656 shares during the quarter. Shell Asset Management Co.'s holdings in Tractor Supply were worth $1,772,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Tractor Supply by 392.5% during the fourth quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer's stock worth $3,397,643,000 after purchasing an additional 51,031,178 shares during the period. Wellington Management Group LLP increased its stake in 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 valued at $1,262,258,000 after buying an additional 19,048,385 shares during the period. Alliancebernstein L.P. increased its position in Tractor Supply by 403.3% during the fourth quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer's stock worth $1,180,932,000 after buying an additional 17,834,643 shares during the last quarter. Capital World Investors grew its holdings in Tractor Supply by 403.7% during the fourth 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 during 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 last quarter. Institutional investors and hedge funds own 98.72% of the company's stock.

Wall Street Analysts Forecast Growth

TSCO has been the subject of a number of research reports. Raymond James lowered their price objective on Tractor Supply from $61.00 to $57.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Mizuho lowered their price objective on shares of Tractor Supply from $62.00 to $58.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Truist Financial cut their price target 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. JPMorgan Chase & Co. decreased their price objective on shares of Tractor Supply from $59.00 to $56.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Finally, Guggenheim dropped their price target on Tractor Supply from $60.00 to $55.00 and set a "buy" rating for the company in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $58.02.

Insider Buying and Selling at Tractor Supply

In related news, SVP Matthew L. Rubin sold 2,810 shares of the business's stock in a transaction 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 sale, the senior vice president now owns 29,722 shares of the company's stock, valued at $1,538,410.72. The trade was a 8.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.65% of the company's stock.

Tractor Supply Stock Performance

Shares of TSCO stock traded down $1.31 during trading on Tuesday, reaching $51.60. The company had a trading volume of 4,912,277 shares, compared to its average volume of 5,155,812. Tractor Supply has a one year low of $46.85 and a one year high of $61.53. The company has a market capitalization of $27.36 billion, a PE ratio of 25.29, a PEG ratio of 2.95 and a beta of 0.82. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. The firm's 50 day simple moving average is $51.65 and its two-hundred day simple moving average is $54.08.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its 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). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. The business had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter in the previous year, the company posted $1.83 EPS. Tractor Supply's revenue for the quarter was up 2.1% on a year-over-year basis. Sell-side analysts forecast that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.78%. Tractor Supply's dividend payout ratio (DPR) is currently 45.77%.

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

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.