Wellington Management Group LLP Grows Holdings in Tractor Supply (NASDAQ:TSCO)

Wellington Management Group LLP lifted its position in shares of Tractor Supply (NASDAQ:TSCO) by 401.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,789,249 shares of the specialty retailer’s stock after acquiring an additional 19,048,385 shares during the quarter. Wellington Management Group LLP owned 4.45% of Tractor Supply worth $1,262,258,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of TSCO. Icon Wealth Advisors LLC purchased a new position in Tractor Supply during the third quarter worth approximately $111,000. Glen Eagle Advisors LLC lifted its position in shares of Tractor Supply by 75.8% during the 3rd quarter. Glen Eagle Advisors LLC now owns 464 shares of the specialty retailer’s stock valued at $135,000 after buying an additional 200 shares in the last quarter. Smithfield Trust Co lifted its position in shares of Tractor Supply by 286.2% during the 4th quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 352 shares in the last quarter. Future Financial Wealth Managment LLC grew its stake in Tractor Supply by 400.0% in the 4th quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 400 shares during the period. Finally, Archer Investment Corp increased its holdings in Tractor Supply by 400.0% in the 4th quarter. Archer Investment Corp now owns 500 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 400 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Tractor Supply Stock Down 1.3 %

Shares of TSCO opened at $53.47 on Monday. The company’s 50-day moving average price is $55.03 and its 200 day moving average price is $55.66. Tractor Supply has a 12-month low of $48.30 and a 12-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 $28.55 billion, a P/E ratio of 26.21, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.28 by ($1.84). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. On average, sell-side analysts forecast that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were paid a $0.92 dividend. The ex-dividend date was Wednesday, February 26th. This is a boost 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 6.88%. Tractor Supply’s payout ratio is presently 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 of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Guggenheim reiterated a “buy” rating and issued a $60.00 target price on shares of Tractor Supply in a research report on Friday, January 31st. Telsey Advisory Group reiterated an “outperform” rating and set a $67.00 price objective on shares of Tractor Supply in a research note on Thursday, January 30th. Barclays decreased their target price on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Monday, December 30th. Bank of America boosted their price target on Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a research report on Thursday, January 16th. Finally, Loop Capital raised their price objective on Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a report on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Tractor Supply presently has an average rating of “Moderate Buy” and a consensus price target of $59.22.

Insider Activity at Tractor Supply

In other Tractor Supply news, EVP Colin Yankee sold 24,602 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 33,645 shares in the company, valued at $1,821,876.75. The trade was a 42.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Harry A. Lawton III sold 88,095 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $54.59, for a total value of $4,809,106.05. Following the completion of the sale, the chief executive officer now owns 488,852 shares in the company, valued at approximately $26,686,430.68. The trade was a 15.27 % 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 worth $7,538,068. 0.24% of the stock is currently owned by company insiders.

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.