Tractor Supply (NASDAQ:TSCO) Shares Acquired by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lifted its position in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 287.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,417,152 shares of the specialty retailer's stock after buying an additional 7,729,628 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 1.95% of Tractor Supply worth $552,735,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Smithfield Trust Co grew its stake in shares of Tractor Supply by 286.2% in the 4th quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock worth $25,000 after buying an additional 352 shares in the last quarter. PrairieView Partners LLC increased its position in shares of Tractor Supply by 400.0% during the 4th 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. Future Financial Wealth Managment LLC boosted its stake in Tractor Supply by 400.0% during the fourth quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer's stock worth $27,000 after buying an additional 400 shares during the period. Archer Investment Corp increased its position in Tractor Supply by 400.0% during the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock valued at $27,000 after acquiring an additional 400 shares during the last quarter. Finally, Kentucky Trust Co purchased a new stake in shares of Tractor Supply in the fourth quarter valued at $27,000. Institutional investors own 98.72% of the company's stock.

Insiders Place Their Bets

In related news, CEO Harry A. Lawton III sold 88,095 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $54.59, for a total value of $4,809,106.05. Following the completion of the transaction, the chief executive officer now directly owns 488,852 shares in the company, valued at approximately $26,686,430.68. This represents a 15.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Melissa Kersey sold 9,300 shares of the company's stock in a transaction that occurred on Thursday, February 6th. The stock was 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 owns 34,961 shares in the company, valued at approximately $1,858,876.37. This represents a 21.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 137,993 shares of company stock valued at $7,538,068 in the last 90 days. 0.65% of the stock is owned by insiders.

Tractor Supply Stock Performance

Shares of Tractor Supply stock traded up $0.19 on Wednesday, reaching $50.06. 1,608,771 shares of the stock were exchanged, compared to its average volume of 5,099,469. The business has a 50 day moving average price of $52.70 and a two-hundred day moving average price of $54.62. The firm has a market capitalization of $26.61 billion, a price-to-earnings ratio of 24.54, a PEG ratio of 2.95 and a beta of 0.88. 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 has a twelve month low of $46.85 and a twelve month high of $61.53.

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). 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 analyst estimates of $3.55 billion. During the same quarter in the prior year, the business posted $1.83 EPS. The firm's quarterly revenue was up 2.1% compared to the same quarter last year. Analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply declared that its Board of Directors has approved a stock buyback plan on Thursday, February 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the specialty retailer to reacquire up to 3.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Tractor Supply Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were given a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 7.35%. The ex-dividend date was Wednesday, February 26th. This is an increase from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's dividend payout ratio (DPR) is 45.77%.

Analyst Ratings Changes

Several research analysts have issued reports on TSCO shares. Stephens started coverage on Tractor Supply in a research report on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 target price for the company. Telsey Advisory Group set a $60.00 price target on Tractor Supply in a report on Friday. Truist Financial decreased their target price on Tractor Supply from $63.00 to $60.00 and set a "buy" rating for the company in a research report on Friday, January 31st. UBS Group set a $54.00 price target on shares of Tractor Supply in a report on Friday. Finally, Mizuho dropped their target price on Tractor Supply from $62.00 to $58.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Tractor Supply has a consensus rating of "Moderate Buy" and a consensus price target of $58.02.

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.