Alliancebernstein L.P. Purchases 17,834,643 Shares of Tractor Supply (NASDAQ:TSCO)

Alliancebernstein L.P. increased its holdings in Tractor Supply (NASDAQ:TSCO) by 403.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,256,534 shares of the specialty retailer’s stock after purchasing an additional 17,834,643 shares during the quarter. Alliancebernstein L.P. owned approximately 4.17% of Tractor Supply worth $1,180,932,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Icon Wealth Advisors LLC acquired a new stake in Tractor Supply during the 3rd quarter worth about $111,000. Glen Eagle Advisors LLC lifted its stake in 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 acquiring an additional 200 shares in the last quarter. Smithfield Trust Co lifted its position in shares of Tractor Supply by 286.2% during the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 352 shares in the last quarter. Future Financial Wealth Managment LLC boosted its stake in shares of Tractor Supply by 400.0% in the 4th quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer’s stock worth $27,000 after buying an additional 400 shares during the last quarter. Finally, Archer Investment Corp boosted its position in Tractor Supply by 400.0% in the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 400 shares during the last quarter. Institutional investors own 98.72% of the company’s stock.

Insider Activity at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply stock in a transaction that occurred on Thursday, February 20th. The shares were 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 owns 31,787 shares of the company’s stock, valued at approximately $1,833,792.03. The trade was a 10.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Harry A. Lawton III sold 88,095 shares of the company’s 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 sale, the chief executive officer now owns 488,852 shares of the company’s stock, valued at approximately $26,686,430.68. This trade represents a 15.27 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 137,993 shares of company stock valued at $7,538,068. 0.24% of the stock is owned by corporate insiders.

Tractor Supply Stock Down 1.3 %

TSCO stock opened at $53.47 on Monday. The company has a market capitalization of $28.55 billion, a price-to-earnings ratio of 26.21, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. The business’s 50 day moving average price is $55.03 and its two-hundred day moving average price is $55.66. Tractor Supply has a fifty-two week low of $48.30 and a fifty-two week high of $61.53. 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 announced its 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, analysts forecast that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply declared that its board has approved a stock repurchase program 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 programs are typically a sign that the company’s leadership believes its shares are undervalued.

Tractor Supply Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were paid a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 6.88%. The ex-dividend date was Wednesday, February 26th. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio is currently 45.10%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on TSCO shares. Telsey Advisory Group reissued an “outperform” rating and set a $67.00 target price on shares of Tractor Supply in a research report on Thursday, January 30th. Bank of America increased their target price on shares of Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a research note on Thursday, January 16th. Guggenheim restated a “buy” rating and issued a $60.00 price objective on shares of Tractor Supply in a research report on Friday, January 31st. Barclays reduced their target price on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Monday, December 30th. Finally, Mizuho lifted their price target on shares of Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Tractor Supply currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.22.

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.