Tractor Supply (NASDAQ:TSCO) Shares Purchased by American Century Companies Inc.

American Century Companies Inc. boosted its position in Tractor Supply (NASDAQ:TSCO) by 633.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,715,001 shares of the specialty retailer’s stock after acquiring an additional 2,344,729 shares during the quarter. American Century Companies Inc.’s holdings in Tractor Supply were worth $144,058,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Mizuho Securities USA LLC lifted its holdings in Tractor Supply by 623.8% in the 4th quarter. Mizuho Securities USA LLC now owns 50,632 shares of the specialty retailer’s stock worth $2,687,000 after buying an additional 43,637 shares in the last quarter. Virtu Financial LLC acquired a new position in Tractor Supply in the 4th quarter worth $1,088,000. Quantbot Technologies LP lifted its holdings in Tractor Supply by 541.5% in the 4th quarter. Quantbot Technologies LP now owns 53,188 shares of the specialty retailer’s stock worth $2,822,000 after buying an additional 44,897 shares in the last quarter. Bancreek Capital Management LP lifted its holdings in Tractor Supply by 261.7% in the 4th quarter. Bancreek Capital Management LP now owns 112,605 shares of the specialty retailer’s stock worth $5,975,000 after buying an additional 81,476 shares in the last quarter. Finally, Washington Trust Bank raised its stake in shares of Tractor Supply by 383.8% in the 4th quarter. Washington Trust Bank now owns 7,460 shares of the specialty retailer’s stock valued at $396,000 after purchasing an additional 5,918 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Insider Transactions at Tractor Supply

In other news, EVP Colin Yankee sold 24,602 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $54.15, for a total value of $1,332,198.30. Following the completion of the sale, the executive vice president now directly owns 33,645 shares of the company’s stock, valued at approximately $1,821,876.75. This represents a 42.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Harry A. Lawton III sold 88,095 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $54.59, for a total transaction of $4,809,106.05. Following the completion of the sale, the chief executive officer now directly owns 488,852 shares of the company’s stock, valued at approximately $26,686,430.68. This represents a 15.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 137,993 shares of company stock valued at $7,538,068. Company insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Barclays cut their target price on shares of Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Monday, December 30th. Truist Financial cut 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 note on Friday, January 31st. Telsey Advisory Group restated an “outperform” rating and issued a $67.00 target price on shares of Tractor Supply in a research note on Thursday, January 30th. Guggenheim restated a “buy” rating and issued a $60.00 target price on shares of Tractor Supply in a research note on Friday, January 31st. Finally, Wells Fargo & Company cut their target price on shares of Tractor Supply from $65.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $59.22.

Tractor Supply Price Performance

NASDAQ TSCO opened at $52.46 on Monday. Tractor Supply has a 52 week low of $48.30 and a 52 week 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 stock has a market cap of $28.01 billion, a price-to-earnings ratio of 25.72, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. The company has a 50-day moving average price of $55.03 and a two-hundred day moving average price of $55.69.

Tractor Supply (NASDAQ:TSCO) last posted its earnings results on Thursday, January 30th. The specialty retailer reported $0.44 EPS for the quarter, missing the consensus estimate of $2.28 by ($1.84). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. Analysts forecast that Tractor Supply will post 2.17 EPS for the current year.

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

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were paid a $0.92 dividend. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 dividend on an annualized basis and a dividend yield of 7.01%. The ex-dividend date was Wednesday, February 26th. Tractor Supply’s dividend payout ratio is currently 45.10%.

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.