Tractor Supply (NASDAQ:TSCO) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. raised its stake in Tractor Supply (NASDAQ:TSCO) by 412.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,326,961 shares of the specialty retailer’s stock after purchasing an additional 1,872,786 shares during the quarter. Franklin Resources Inc.’s holdings in Tractor Supply were worth $123,469,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of TSCO. Family Legacy Inc. boosted its position in shares of Tractor Supply by 478.7% during the fourth quarter. Family Legacy Inc. now owns 16,876 shares of the specialty retailer’s stock worth $918,000 after buying an additional 13,960 shares during the period. B. Metzler seel. Sohn & Co. AG boosted its holdings in Tractor Supply by 360.8% during the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 61,233 shares of the specialty retailer’s stock valued at $3,249,000 after acquiring an additional 47,945 shares during the period. Rodgers Brothers Inc. grew its position in Tractor Supply by 391.9% in the 4th quarter. Rodgers Brothers Inc. now owns 4,250 shares of the specialty retailer’s stock valued at $226,000 after acquiring an additional 3,386 shares in the last quarter. Boston Research & Management Inc. grew its position in Tractor Supply by 388.9% in the 4th quarter. Boston Research & Management Inc. now owns 179,100 shares of the specialty retailer’s stock valued at $9,503,000 after acquiring an additional 142,463 shares in the last quarter. Finally, Summit Financial LLC purchased a new stake in Tractor Supply during the fourth quarter worth about $1,119,000. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Insider Activity at Tractor Supply

In other news, EVP Melissa Kersey sold 9,300 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $53.17, for a total value of $494,481.00. Following the completion of the sale, the executive vice president now directly owns 34,961 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Colin Yankee sold 24,602 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $54.15, for a total value of $1,332,198.30. Following the transaction, the executive vice president now directly owns 33,645 shares in the company, valued at approximately $1,821,876.75. This represents a 42.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 137,993 shares of company stock worth $7,538,068 in the last 90 days. 0.24% of the stock is owned by insiders.

Tractor Supply Price Performance

Shares of TSCO opened at $55.62 on Thursday. 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 has a 1-year low of $48.30 and a 1-year high of $61.53. The stock has a market cap of $29.70 billion, a PE ratio of 27.26, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. The firm has a fifty day moving average price of $54.98 and a 200 day moving average price of $55.64.

Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share (EPS) 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%. As a group, sell-side analysts anticipate that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply announced that its Board of Directors has authorized a stock buyback program on Thursday, February 13th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the specialty retailer to repurchase up to 3.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Tractor Supply Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 6.62%. 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. Tractor Supply’s payout ratio is presently 45.10%.

Wall Street Analyst Weigh In

TSCO has been the subject of several recent research reports. Truist Financial lowered 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 note on Friday, January 31st. JPMorgan Chase & Co. boosted their price target on shares of Tractor Supply from $58.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Loop Capital lifted their target price on Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a report on Thursday, December 12th. Barclays lowered their target price on 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. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $67.00 price target on shares of Tractor Supply in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Tractor Supply presently has an average rating of “Moderate Buy” and an average price target of $59.22.

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.