Tractor Supply (NASDAQ:TSCO) Shares Purchased by Advisors Asset Management Inc.

Advisors Asset Management Inc. lifted its holdings in Tractor Supply (NASDAQ:TSCO) by 381.6% during the fourth quarter, Holdings Channel reports. The fund owned 195,225 shares of the specialty retailer’s stock after buying an additional 154,688 shares during the quarter. Advisors Asset Management Inc.’s holdings in Tractor Supply were worth $10,359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Tractor Supply Stock Performance

Shares of TSCO opened at $52.65 on Wednesday. The business’s fifty day moving average price is $55.16 and its 200 day moving average price is $55.72. Tractor Supply has a 12-month low of $48.30 and a 12-month high of $61.53. The stock has a market capitalization of $28.12 billion, a PE ratio of 25.81, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.28 by ($1.84). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. Equities research analysts forecast that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 6.99%. 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. Tractor Supply’s payout ratio is presently 45.10%.

Tractor Supply announced that its Board of Directors has approved a stock repurchase 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 buy up to 3.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Mizuho raised their price target on shares of Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Truist Financial decreased 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 note on Friday, January 31st. Telsey Advisory Group reissued an “outperform” rating and issued a $67.00 price target on shares of Tractor Supply in a research note on Thursday, January 30th. Wells Fargo & Company decreased their price target on shares of Tractor Supply from $65.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Finally, Guggenheim reaffirmed a “buy” rating and set a $60.00 target price on shares of Tractor Supply in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $59.22.

Insiders Place Their Bets

In related news, EVP Melissa Kersey sold 9,300 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $53.17, for a total value of $494,481.00. Following the completion of the transaction, the executive vice president now directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Harry A. Lawton III sold 88,095 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were 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 owns 488,852 shares of the company’s stock, valued at $26,686,430.68. The trade was a 15.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 137,993 shares of company stock worth $7,538,068. Company insiders own 0.24% of the company’s stock.

About Tractor Supply

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.