Dunhill Financial LLC Grows Holdings in Tractor Supply (NASDAQ:TSCO)

Dunhill Financial LLC lifted its position in shares of Tractor Supply (NASDAQ:TSCO) by 325.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 511 shares of the specialty retailer’s stock after buying an additional 391 shares during the quarter. Dunhill Financial LLC’s holdings in Tractor Supply were worth $27,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted 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 worth $3,397,643,000 after acquiring an additional 51,031,178 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Tractor Supply by 401.8% during the 4th quarter. Wellington Management Group LLP now owns 23,789,249 shares of the specialty retailer’s stock worth $1,262,258,000 after purchasing an additional 19,048,385 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Tractor Supply by 403.3% during the fourth quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer’s stock worth $1,180,932,000 after purchasing an additional 17,834,643 shares during the last quarter. 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 increased its stake in 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 last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Tractor Supply Price Performance

TSCO opened at $50.96 on Thursday. Tractor Supply has a twelve month low of $46.85 and a twelve month 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 has a market cap of $27.09 billion, a price-to-earnings ratio of 24.98, a PEG ratio of 2.95 and a beta of 0.82. The company has a fifty day simple moving average of $52.11 and a 200 day simple moving average of $54.27.

Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share (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 business had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.55 billion. During the same period in the previous year, the firm posted $1.83 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. Equities research analysts expect that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply declared that its board has approved a stock buyback plan on Thursday, February 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows 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 stock is undervalued.

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 7.22%. The ex-dividend date of this dividend was Wednesday, February 26th. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s payout ratio is 45.77%.

Insider Activity at Tractor Supply

In related news, EVP Colin Yankee sold 24,602 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $54.15, for a total transaction of $1,332,198.30. Following 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $57.69, for a total transaction of $222,106.50. Following the completion of the transaction, the senior vice president now directly owns 31,787 shares of the company’s stock, valued at approximately $1,833,792.03. This represents a 10.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,598 shares of company stock valued at $2,234,481 over the last ninety days. Corporate insiders own 0.65% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the company. Truist Financial lowered their price target on Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a report on Friday, January 31st. Bank of America boosted their target price on shares of Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a report on Thursday, January 16th. Mizuho cut their price target on shares of Tractor Supply from $62.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Telsey Advisory Group set a $60.00 price objective on shares of Tractor Supply in a research note on Friday, April 25th. Finally, Robert W. Baird cut their target price on Tractor Supply from $63.00 to $56.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $58.02.

Tractor Supply 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.