Tractor Supply (NASDAQ:TSCO) Stock Position Raised by FORA Capital LLC

FORA Capital LLC lifted its holdings in Tractor Supply (NASDAQ:TSCO) by 434.1% in the 4th quarter, Holdings Channel reports. The firm owned 35,526 shares of the specialty retailer’s stock after buying an additional 28,875 shares during the quarter. FORA Capital LLC’s holdings in Tractor Supply were worth $1,885,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TSCO. Vanguard Group Inc. increased its position 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 valued at $3,397,643,000 after purchasing an additional 51,031,178 shares during the period. Wellington Management Group LLP grew its holdings in shares of Tractor Supply by 401.8% during the fourth quarter. Wellington Management Group LLP now owns 23,789,249 shares of the specialty retailer’s stock worth $1,262,258,000 after buying an additional 19,048,385 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Tractor Supply by 403.3% during the 4th 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 increased 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 worth $1,031,122,000 after buying an additional 15,575,311 shares during the last quarter. Finally, Capital International Investors increased its holdings in shares of Tractor Supply by 334.7% during the 4th 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. 98.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Raymond James decreased their price target on shares of Tractor Supply from $61.00 to $57.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Stephens assumed coverage on Tractor Supply in a research report on Wednesday, April 9th. They issued an “equal weight” rating and a $56.00 target price for the company. Citigroup reduced their price objective on shares of Tractor Supply from $59.00 to $51.00 and set a “neutral” rating on the stock in a research note on Friday, April 25th. Truist Financial dropped their price target on shares of Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Finally, Mizuho reduced their target price on Tractor Supply from $62.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.02.

Tractor Supply Trading Up 0.9 %

NASDAQ:TSCO opened at $51.42 on Friday. 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 1-year low of $46.85 and a 1-year high of $61.53. The stock has a fifty day simple moving average of $52.04 and a 200 day simple moving average of $54.22. The firm has a market capitalization of $27.34 billion, a price-to-earnings ratio of 25.21, a price-to-earnings-growth ratio of 2.95 and a beta of 0.82.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share 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 firm had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same period in the prior year, the company posted $1.83 earnings per share. Tractor Supply’s quarterly revenue was up 2.1% compared to the same quarter last year. Sell-side analysts forecast that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were given a dividend of $0.92 per share. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $3.68 annualized dividend and a yield of 7.16%. Tractor Supply’s dividend payout ratio is currently 45.77%.

Tractor Supply declared that its Board of Directors has authorized a stock buyback program on Thursday, February 13th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to reacquire up to 3.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Tractor Supply

In other Tractor Supply news, CFO Kurt D. Barton sold 12,146 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $56.00, for a total transaction of $680,176.00. Following the sale, the chief financial officer now owns 47,715 shares in the company, valued at $2,672,040. This trade represents a 20.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Colin Yankee sold 24,602 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $54.15, for a total transaction of $1,332,198.30. Following the sale, the executive vice president now directly owns 33,645 shares of the company’s stock, valued at $1,821,876.75. The trade was a 42.24 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 40,598 shares of company stock worth $2,234,481. Corporate insiders own 0.65% of the company’s stock.

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.