Tractor Supply (NASDAQ:TSCO) Shares Bought by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC boosted its position in shares of Tractor Supply (NASDAQ:TSCO) by 403.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 51,742 shares of the specialty retailer’s stock after acquiring an additional 41,470 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Tractor Supply were worth $2,745,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TSCO. Vanguard Group Inc. grew its position in Tractor Supply by 392.5% during 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 buying an additional 51,031,178 shares during the period. Wellington Management Group LLP grew its position in shares of Tractor Supply by 401.8% in 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. grew its position in shares of Tractor Supply by 403.3% in the fourth quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer’s stock valued at $1,180,932,000 after purchasing an additional 17,834,643 shares during the period. Capital World Investors grew its position in shares of Tractor Supply by 403.7% in the fourth quarter. Capital World Investors now owns 19,433,135 shares of the specialty retailer’s stock valued at $1,031,122,000 after purchasing an additional 15,575,311 shares during the period. Finally, Capital International Investors grew its position 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 purchasing an additional 11,880,010 shares during the period. Institutional investors and hedge funds own 98.72% of the company’s stock.

Wall Street Analyst Weigh In

TSCO has been the topic of several research analyst reports. Guggenheim dropped their target price on shares of Tractor Supply from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. UBS Group set a $54.00 target price on shares of Tractor Supply in a research report on Friday, April 25th. Truist Financial dropped 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. Citigroup dropped their target price on shares of Tractor Supply from $59.00 to $51.00 and set a “neutral” rating on the stock in a research report on Friday, April 25th. Finally, Stephens initiated coverage on shares of Tractor Supply in a research report on Wednesday, April 9th. They issued an “equal weight” rating and a $56.00 target price on the stock. 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’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $58.02.

Insider Activity

In other news, SVP Matthew L. Rubin sold 2,810 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $51.76, for a total value of $145,445.60. Following the sale, the senior vice president now directly owns 29,722 shares of the company’s stock, valued at approximately $1,538,410.72. The trade was a 8.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.65% of the company’s stock.

Tractor Supply Price Performance

Shares of TSCO stock opened at $52.91 on Tuesday. 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 firm’s 50-day moving average is $51.65 and its two-hundred day moving average is $54.08. Tractor Supply has a 12 month low of $46.85 and a 12 month high of $61.53. The company has a market capitalization of $28.05 billion, a PE ratio of 25.94, a price-to-earnings-growth ratio of 2.95 and a beta of 0.82.

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

Tractor Supply Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Wednesday, May 28th. Tractor Supply’s dividend payout ratio (DPR) is 45.77%.

Tractor Supply announced that its board has initiated a share repurchase plan on Thursday, February 13th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the specialty retailer to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

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.