Franklin Resources Inc. Boosts Holdings in Tractor Supply (NASDAQ:TSCO)

Franklin Resources Inc. lifted its position in Tractor Supply (NASDAQ:TSCO) by 412.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,326,961 shares of the specialty retailer’s stock after purchasing an additional 1,872,786 shares during the quarter. Franklin Resources Inc. owned about 0.44% of Tractor Supply worth $123,469,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in TSCO. Glen Eagle Advisors LLC raised its holdings 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 raised its position in 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 purchasing an additional 352 shares during the last quarter. Future Financial Wealth Managment LLC lifted its stake in Tractor Supply by 400.0% in the fourth quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 400 shares during the period. Archer Investment Corp boosted its stake in shares of Tractor Supply by 400.0% during the 4th quarter. Archer Investment Corp now owns 500 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 400 shares in the last quarter. Finally, PrairieView Partners LLC boosted its position in Tractor Supply by 400.0% during the 4th quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TSCO. Mizuho raised their target price on shares of Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Guggenheim reiterated a “buy” rating and issued a $60.00 price target on shares of Tractor Supply in a research note on Friday, January 31st. JPMorgan Chase & Co. increased their target price on Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Telsey Advisory Group reiterated an “outperform” rating and set a $67.00 price target on shares of Tractor Supply in a research note on Thursday, January 30th. Finally, Barclays lowered their price objective 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. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Tractor Supply presently has an average rating of “Moderate Buy” and an average target price of $59.22.

Tractor Supply Stock Performance

NASDAQ:TSCO opened at $55.62 on Thursday. The company has a fifty day moving average of $54.98 and a two-hundred day moving average of $55.64. Tractor Supply has a fifty-two week low of $48.30 and a fifty-two week high of $61.53. The stock has a market capitalization of $29.70 billion, a PE ratio of 27.26, a P/E/G ratio of 2.95 and a beta of 0.85. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share 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%. As a group, research analysts forecast that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 6.62%. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, February 26th. Tractor Supply’s dividend payout ratio is 45.10%.

Tractor Supply announced that its Board of Directors has initiated a share buyback program on Thursday, February 13th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the specialty retailer to reacquire up to 3.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $57.69, for a total value of $222,106.50. Following the completion of the sale, the senior vice president now directly owns 31,787 shares in the company, valued at $1,833,792.03. This represents a 10.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Melissa Kersey sold 9,300 shares of Tractor Supply stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $53.17, for a total value of $494,481.00. Following the transaction, the executive vice president now owns 34,961 shares in the company, valued at approximately $1,858,876.37. This represents a 21.01 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,993 shares of company stock valued at $7,538,068. Corporate insiders own 0.24% of the company’s stock.

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.