Capital World Investors Increases Holdings in Tractor Supply (NASDAQ:TSCO)

Capital World Investors grew its position in Tractor Supply (NASDAQ:TSCO) by 10.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 5,849,188 shares of the specialty retailer’s stock after acquiring an additional 531,170 shares during the quarter. Capital World Investors owned about 0.05% of Tractor Supply worth $1,257,751,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TSCO. Wellington Management Group LLP increased its holdings in Tractor Supply by 9,370.6% in the 3rd quarter. Wellington Management Group LLP now owns 2,822,151 shares of the specialty retailer’s stock worth $573,038,000 after buying an additional 2,792,352 shares during the period. Norges Bank purchased a new position in shares of Tractor Supply during the 4th quarter valued at about $260,560,000. Invesco Ltd. lifted its holdings in Tractor Supply by 76.7% in the third quarter. Invesco Ltd. now owns 2,024,182 shares of the specialty retailer’s stock valued at $411,010,000 after acquiring an additional 878,874 shares during the period. Capital International Investors boosted its position in Tractor Supply by 7.6% in the 4th quarter. Capital International Investors now owns 6,233,852 shares of the specialty retailer’s stock worth $1,340,589,000 after purchasing an additional 439,954 shares in the last quarter. Finally, Alecta Tjanstepension Omsesidigt grew its stake in shares of Tractor Supply by 87.5% during the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 750,000 shares of the specialty retailer’s stock worth $161,272,000 after purchasing an additional 350,000 shares during the period. Institutional investors and hedge funds own 98.72% of the company’s stock.

Insider Activity

In other Tractor Supply news, CFO Kurt D. Barton sold 4,335 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $257.00, for a total value of $1,114,095.00. Following the transaction, the chief financial officer now owns 20,678 shares in the company, valued at $5,314,246. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.58% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on TSCO. Mizuho reissued a “neutral” rating and set a $250.00 target price (up from $245.00) on shares of Tractor Supply in a research note on Friday, April 26th. Raymond James lifted their target price on shares of Tractor Supply from $250.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Morgan Stanley increased their target price on Tractor Supply from $195.00 to $235.00 and gave the company an “underweight” rating in a report on Friday, April 26th. Barclays increased their target price on shares of Tractor Supply from $234.00 to $240.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Finally, Evercore ISI upped their price objective on shares of Tractor Supply from $285.00 to $290.00 and gave the company an “outperform” rating in a research note on Tuesday, May 14th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $253.96.

Tractor Supply Stock Up 0.2 %

Tractor Supply stock traded up $0.66 during midday trading on Wednesday, hitting $270.37. 1,101,892 shares of the company were exchanged, compared to its average volume of 1,142,597. The company has a market cap of $29.15 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 3.48 and a beta of 0.83. The company’s fifty day moving average price is $266.09 and its 200-day moving average price is $241.64. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.40 and a quick ratio of 0.19. Tractor Supply has a fifty-two week low of $185.00 and a fifty-two week high of $287.89.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.13. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. The business had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same period in the prior year, the firm earned $1.65 EPS. The business’s quarterly revenue was up 2.8% on a year-over-year basis. On average, research analysts predict that Tractor Supply will post 10.34 EPS for the current fiscal year.

Tractor Supply Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 28th will be given a $1.10 dividend. The ex-dividend date of this dividend is Friday, May 24th. This represents a $4.40 dividend on an annualized basis and a yield of 1.63%. Tractor Supply’s dividend payout ratio (DPR) is 42.84%.

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.