Condor Capital Management Increases Holdings in Tractor Supply (NASDAQ:TSCO)

Condor Capital Management raised its stake in shares of Tractor Supply (NASDAQ:TSCO) by 391.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 42,779 shares of the specialty retailer’s stock after buying an additional 34,073 shares during the period. Condor Capital Management’s holdings in Tractor Supply were worth $2,270,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Blueshift Asset Management LLC raised its stake in Tractor Supply by 571.8% during the 4th quarter. Blueshift Asset Management LLC now owns 66,815 shares of the specialty retailer’s stock valued at $3,545,000 after buying an additional 56,870 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Tractor Supply by 383.7% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 113,586 shares of the specialty retailer’s stock valued at $6,027,000 after acquiring an additional 90,104 shares during the period. Teacher Retirement System of Texas grew its position in shares of Tractor Supply by 41.6% during the 4th quarter. Teacher Retirement System of Texas now owns 34,510 shares of the specialty retailer’s stock valued at $1,831,000 after acquiring an additional 10,144 shares during the period. Grey Fox Wealth Advisors LLC grew its position in shares of Tractor Supply by 400.0% during the 4th quarter. Grey Fox Wealth Advisors LLC now owns 6,460 shares of the specialty retailer’s stock valued at $343,000 after acquiring an additional 5,168 shares during the period. Finally, Sandy Spring Bank grew its position in shares of Tractor Supply by 547.7% during the 4th quarter. Sandy Spring Bank now owns 991 shares of the specialty retailer’s stock valued at $53,000 after acquiring an additional 838 shares during the period. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TSCO has been the subject of a number of recent research reports. Bank of America boosted their price objective on shares of Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a research report on Thursday, January 16th. Barclays dropped their target price on shares of Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a report on Monday, December 30th. Guggenheim reaffirmed a “buy” rating and issued a $60.00 target price on shares of Tractor Supply in a report on Friday, January 31st. Wells Fargo & Company dropped their target price on shares of Tractor Supply from $65.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Finally, Loop Capital upped their target price on shares of Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Tractor Supply has an average rating of “Moderate Buy” and a consensus target price of $59.22.

Insider Activity

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

Tractor Supply Stock Performance

Shares of NASDAQ:TSCO opened at $52.80 on Thursday. The firm has a market cap of $28.20 billion, a PE ratio of 25.88, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. The firm’s 50 day simple moving average is $55.12 and its 200-day simple moving average is $55.70. Tractor Supply has a one year low of $48.30 and a one year 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 released its quarterly earnings data 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%. As a group, equities analysts predict that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were paid a dividend of $0.92 per share. The ex-dividend date was Wednesday, February 26th. This is an increase 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 6.97%. Tractor Supply’s dividend payout ratio (DPR) is currently 45.10%.

Tractor Supply announced that its Board of Directors has authorized a stock buyback plan on Thursday, February 13th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the specialty retailer to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.