Capital International Investors Buys 11,880,010 Shares of Tractor Supply (NASDAQ:TSCO)

Capital International Investors raised its stake in shares of Tractor Supply (NASDAQ:TSCO) by 334.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,429,288 shares of the specialty retailer’s stock after acquiring an additional 11,880,010 shares during the quarter. Capital International Investors owned approximately 2.89% of Tractor Supply worth $818,421,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Smithfield Trust Co boosted its position in Tractor Supply by 286.2% in the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 352 shares in the last quarter. Future Financial Wealth Managment LLC raised its stake in shares of Tractor Supply by 400.0% in the fourth 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 boosted its holdings in shares of Tractor Supply by 400.0% in the 4th quarter. Archer Investment Corp now owns 500 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 400 shares in the last quarter. PrairieView Partners LLC grew its position in Tractor Supply by 400.0% during the 4th quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 400 shares during the last quarter. Finally, Kentucky Trust Co acquired a new stake in Tractor Supply during the 4th quarter valued at $27,000. Institutional investors and hedge funds own 98.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Stephens assumed coverage on Tractor Supply in a research note on Wednesday, April 9th. They issued an “equal weight” rating and a $56.00 price objective on the stock. Bank of America increased their price objective on shares of Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a report on Thursday, January 16th. Barclays dropped their target price on shares of Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a research note on Monday, December 30th. Telsey Advisory Group reissued an “outperform” rating and set a $67.00 price target on shares of Tractor Supply in a research note on Thursday. Finally, Truist Financial dropped 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. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $59.07.

Tractor Supply Stock Up 1.5 %

Shares of TSCO stock opened at $50.11 on Friday. The company has a market capitalization of $26.64 billion, a price-to-earnings ratio of 24.56, a P/E/G ratio of 2.95 and a beta of 0.88. Tractor Supply has a 12-month low of $46.97 and a 12-month high of $61.53. The firm has a fifty day moving average of $53.74 and a 200-day moving average of $55.13. 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) last released its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.28 by ($1.84). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. As a group, equities research analysts predict that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were issued a $0.92 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 dividend on an annualized basis and a dividend yield of 7.34%. Tractor Supply’s dividend payout ratio (DPR) is 45.10%.

Tractor Supply announced that its board has initiated a stock buyback program on Thursday, February 13th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the specialty retailer to repurchase up to 3.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insider Transactions at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of the business’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 of the company’s stock, valued at $1,833,792.03. The trade was a 10.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kurt D. Barton sold 12,146 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $56.00, for a total value of $680,176.00. Following the completion of the transaction, the chief financial officer now owns 47,715 shares of the company’s stock, valued at $2,672,040. The trade was a 20.29 % decrease in their position. 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 over the last 90 days. 0.24% of the stock is owned by corporate insiders.

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.