abrdn plc Grows Position in Tractor Supply (NASDAQ:TSCO)

abrdn plc increased its position in shares of Tractor Supply (NASDAQ:TSCO) by 27.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 109,491 shares of the specialty retailer’s stock after buying an additional 23,876 shares during the quarter. abrdn plc’s holdings in Tractor Supply were worth $23,544,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in TSCO. Wellington Management Group LLP grew its stake in Tractor Supply by 9,370.6% during 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 last quarter. Invesco Ltd. grew its stake in shares of Tractor Supply by 76.7% in the 3rd quarter. Invesco Ltd. now owns 2,024,182 shares of the specialty retailer’s stock valued at $411,010,000 after purchasing an additional 878,874 shares during the last quarter. Alecta Tjanstepension Omsesidigt grew its stake in shares of Tractor Supply by 87.5% in the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 750,000 shares of the specialty retailer’s stock valued at $161,272,000 after purchasing an additional 350,000 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Tractor Supply by 32,987.5% in the 4th quarter. International Assets Investment Management LLC now owns 270,325 shares of the specialty retailer’s stock valued at $58,128,000 after purchasing an additional 269,508 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of Tractor Supply by 22.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,148,340 shares of the specialty retailer’s stock valued at $233,170,000 after purchasing an additional 210,131 shares during the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Insider Activity

In other news, CFO Kurt D. Barton sold 401 shares of Tractor Supply stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $232.06, for a total value of $93,056.06. Following the completion of the sale, the chief financial officer now owns 25,013 shares of the company’s stock, valued at $5,804,516.78. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 transaction of $1,114,095.00. Following the completion of the sale, the chief financial officer now owns 20,678 shares of the company’s stock, valued at $5,314,246. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kurt D. Barton sold 401 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $232.06, for a total value of $93,056.06. Following the sale, the chief financial officer now directly owns 25,013 shares of the company’s stock, valued at approximately $5,804,516.78. The disclosure for this sale can be found here. Insiders sold a total of 90,090 shares of company stock valued at $21,201,877 over the last quarter. Company insiders own 0.58% of the company’s stock.

Tractor Supply Price Performance

Shares of NASDAQ:TSCO opened at $255.96 on Wednesday. The company has a market cap of $27.63 billion, a P/E ratio of 25.37, a P/E/G ratio of 3.81 and a beta of 0.84. The company has a quick ratio of 0.28, a current ratio of 1.50 and a debt-to-equity ratio of 0.82. Tractor Supply has a 52 week low of $185.00 and a 52 week high of $268.02. The business has a fifty day simple moving average of $250.69 and a 200-day simple moving average of $225.60.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings data on Thursday, February 1st. The specialty retailer reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.06. The business had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.67 billion. Tractor Supply had a return on equity of 53.60% and a net margin of 7.61%. The business’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.43 earnings per share. Equities research analysts forecast that Tractor Supply will post 10.2 EPS for the current year.

Tractor Supply Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were given a $1.10 dividend. The ex-dividend date was Friday, February 23rd. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.72%. This is an increase from Tractor Supply’s previous quarterly dividend of $1.03. Tractor Supply’s payout ratio is currently 43.61%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Truist Financial lifted their target price on Tractor Supply from $256.00 to $277.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Guggenheim lifted their target price on Tractor Supply from $210.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Raymond James downgraded Tractor Supply from a “strong-buy” rating to an “outperform” rating and lifted their target price for the company from $230.00 to $250.00 in a research note on Friday, February 2nd. Benchmark reiterated a “buy” rating and issued a $256.00 target price on shares of Tractor Supply in a research note on Monday. Finally, The Goldman Sachs Group raised their price target on Tractor Supply from $230.00 to $262.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $241.65.

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.