Ceeto Capital Group LLC Increases Stock Holdings in Tractor Supply (NASDAQ:TSCO)

Ceeto Capital Group LLC lifted its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 400.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,500 shares of the specialty retailer’s stock after purchasing an additional 9,200 shares during the period. Ceeto Capital Group LLC’s holdings in Tractor Supply were worth $610,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of TSCO. Vanguard Group Inc. grew its position in shares of 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 purchasing an additional 51,031,178 shares in the last quarter. Wellington Management Group LLP lifted its holdings 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 worth $1,262,258,000 after buying an additional 19,048,385 shares in the last quarter. Alliancebernstein L.P. boosted 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 acquiring an additional 17,834,643 shares during the period. Geode Capital Management LLC increased its holdings in 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 worth $768,838,000 after acquiring an additional 11,634,249 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Tractor Supply by 391.0% during the 4th quarter. JPMorgan Chase & Co. now owns 10,821,654 shares of the specialty retailer’s stock valued at $574,197,000 after purchasing an additional 8,617,869 shares in the last quarter. Institutional investors own 98.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TSCO. Stephens began coverage on shares of Tractor Supply in a research report on Wednesday. They set an “equal weight” rating and a $56.00 target price for the company. Truist Financial reduced their target price on Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Barclays dropped their price target 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. JPMorgan Chase & Co. boosted their target price on Tractor Supply from $58.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Finally, Bank of America upped their price objective on shares of Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a research note on Thursday, January 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tractor Supply presently has an average rating of “Moderate Buy” and an average price target of $59.07.

Tractor Supply Price Performance

TSCO stock opened at $51.67 on Friday. The company has a fifty day simple moving average of $54.07 and a two-hundred day simple moving average of $55.36. Tractor Supply has a 52 week low of $46.97 and a 52 week high of $61.53. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $27.47 billion, a P/E ratio of 25.33, a price-to-earnings-growth ratio of 2.95 and a beta of 0.88.

Tractor Supply (NASDAQ:TSCO) last released its quarterly 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 anticipate that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were paid a $0.92 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 annualized dividend and a yield of 7.12%. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio is 45.10%.

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 buy 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.

Insider Transactions at Tractor Supply

In related news, EVP Melissa Kersey sold 9,300 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were 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 directly owns 34,961 shares in the company, valued at $1,858,876.37. The trade was a 21.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Matthew L. Rubin sold 3,850 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $57.69, for a total value of $222,106.50. Following the sale, the senior vice president now directly owns 31,787 shares in the company, valued at approximately $1,833,792.03. This trade represents a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 137,993 shares of company stock valued at $7,538,068. 0.24% of the stock is currently owned by corporate insiders.

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.