Mercer Global Advisors Inc. ADV Acquires 63,460 Shares of Tractor Supply (NASDAQ:TSCO)

Mercer Global Advisors Inc. ADV increased its stake in shares of Tractor Supply (NASDAQ:TSCO) by 420.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 78,539 shares of the specialty retailer’s stock after acquiring an additional 63,460 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Tractor Supply were worth $4,167,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Franklin Resources Inc. raised its position in shares of Tractor Supply by 2.0% during the third quarter. Franklin Resources Inc. now owns 454,175 shares of the specialty retailer’s stock valued at $137,950,000 after buying an additional 8,890 shares during the last quarter. Versant Capital Management Inc raised its holdings in Tractor Supply by 345.6% in the 4th quarter. Versant Capital Management Inc now owns 860 shares of the specialty retailer’s stock valued at $46,000 after acquiring an additional 667 shares in the last quarter. Nordea Investment Management AB raised its holdings in Tractor Supply by 418.5% in the 4th quarter. Nordea Investment Management AB now owns 46,140 shares of the specialty retailer’s stock valued at $2,446,000 after acquiring an additional 37,242 shares in the last quarter. Pensionfund Sabic grew its holdings in shares of Tractor Supply by 595.1% during the 4th quarter. Pensionfund Sabic now owns 28,500 shares of the specialty retailer’s stock worth $1,512,000 after purchasing an additional 24,400 shares in the last quarter. Finally, CWA Asset Management Group LLC increased its position in shares of Tractor Supply by 380.3% during the fourth quarter. CWA Asset Management Group LLC now owns 70,459 shares of the specialty retailer’s stock valued at $3,739,000 after purchasing an additional 55,788 shares during the period. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Tractor Supply Stock Performance

TSCO stock opened at $51.24 on Tuesday. The company has a 50 day moving average price of $52.27 and a 200 day moving average price of $54.32. Tractor Supply has a fifty-two week low of $46.85 and a fifty-two week high of $61.53. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. The stock has a market capitalization of $27.24 billion, a PE ratio of 25.12, a price-to-earnings-growth ratio of 2.95 and a beta of 0.82.

Tractor Supply (NASDAQ:TSCO) last released its earnings results on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). The firm had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.55 billion. Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.83 EPS. Analysts forecast that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders 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 was Wednesday, February 26th. This represents a $3.68 annualized dividend and a dividend yield of 7.18%. Tractor Supply’s payout ratio is currently 45.77%.

Tractor Supply declared that its Board of Directors has initiated a share buyback plan on Thursday, February 13th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the specialty retailer to reacquire up to 3.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts recently commented on TSCO shares. Robert W. Baird reduced their target price on Tractor Supply from $63.00 to $56.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Truist Financial decreased their target price 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. Telsey Advisory Group set a $60.00 price target on shares of Tractor Supply in a research report on Friday, April 25th. UBS Group set a $54.00 price objective on Tractor Supply in a report on Friday, April 25th. Finally, Raymond James dropped their target price on Tractor Supply from $61.00 to $57.00 and set an “outperform” rating for the company in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $58.02.

Insider Buying and Selling

In other Tractor Supply news, EVP Melissa Kersey sold 9,300 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $53.17, for a total transaction of $494,481.00. Following the completion of the sale, the executive vice president now owns 34,961 shares in the company, valued at approximately $1,858,876.37. The trade was a 21.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Colin Yankee sold 24,602 shares of the firm’s stock in a transaction on 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 completion of the transaction, the executive vice president now owns 33,645 shares in the company, valued at $1,821,876.75. This represents a 42.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,898 shares of company stock valued at $2,728,962 over the last ninety days. 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.