Capital World Investors Boosts Stock Position in Tractor Supply (NASDAQ:TSCO)

Capital World Investors lifted its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 403.7% during the fourth quarter, HoldingsChannel reports. The firm owned 19,433,135 shares of the specialty retailer’s stock after purchasing an additional 15,575,311 shares during the quarter. Capital World Investors’ holdings in Tractor Supply were worth $1,031,122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Tractor Supply by 392.5% in 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 acquiring an additional 51,031,178 shares during the last quarter. Wellington Management Group LLP grew its holdings in 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 valued at $1,262,258,000 after purchasing an additional 19,048,385 shares during the period. Alliancebernstein L.P. increased its position in Tractor Supply by 403.3% in the fourth 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 International Investors raised its stake in shares of Tractor Supply by 334.7% in the fourth quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer’s stock valued at $818,421,000 after buying an additional 11,880,010 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Tractor Supply by 403.2% during the 4th quarter. Geode Capital Management LLC now owns 14,519,937 shares of the specialty retailer’s stock valued at $768,838,000 after buying an additional 11,634,249 shares during the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Guggenheim reiterated a “buy” rating and set a $60.00 target price on shares of Tractor Supply in a research report on Friday, January 31st. Telsey Advisory Group reiterated an “outperform” rating and set a $67.00 price objective on shares of Tractor Supply in a research note on Thursday. Stephens initiated coverage on Tractor Supply in a research report on Wednesday, April 9th. They issued an “equal weight” rating and a $56.00 price objective on the stock. Bank of America boosted their price target on shares of Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a research note on Thursday, January 16th. Finally, Barclays cut 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. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $59.07.

Tractor Supply Trading Up 1.5 %

Shares of TSCO opened at $50.11 on Friday. Tractor Supply has a 1-year low of $46.97 and a 1-year high of $61.53. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. The firm’s 50-day moving average price is $53.74 and its 200-day moving average price is $55.10. The firm has a market capitalization of $26.64 billion, a price-to-earnings ratio of 24.56, a PEG ratio of 2.95 and a beta of 0.88.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share 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%. Sell-side analysts anticipate that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were issued a $0.92 dividend. This is an increase 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 dividend on an annualized basis and a yield of 7.34%. Tractor Supply’s dividend payout ratio is 45.10%.

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

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, EVP Melissa Kersey sold 9,300 shares of Tractor Supply stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $53.17, for a total transaction of $494,481.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Harry A. Lawton III sold 88,095 shares of the firm’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 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. Over the last 90 days, insiders sold 137,993 shares of company stock valued at $7,538,068. 0.65% of the stock is currently owned by company insiders.

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.