Quantbot Technologies LP Buys 44,897 Shares of Tractor Supply (NASDAQ:TSCO)

Quantbot Technologies LP increased its stake in shares of Tractor Supply (NASDAQ:TSCO) by 541.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,188 shares of the specialty retailer’s stock after buying an additional 44,897 shares during the quarter. Quantbot Technologies LP’s holdings in Tractor Supply were worth $2,822,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of TSCO. Providence Capital Advisors LLC bought a new position in Tractor Supply in the 3rd quarter valued at $32,000. Larson Financial Group LLC raised its position in Tractor Supply by 29.4% in the 3rd quarter. Larson Financial Group LLC now owns 286 shares of the specialty retailer’s stock valued at $83,000 after purchasing an additional 65 shares during the last quarter. First Horizon Advisors Inc. raised its position in Tractor Supply by 13.2% in the 3rd quarter. First Horizon Advisors Inc. now owns 351 shares of the specialty retailer’s stock valued at $102,000 after purchasing an additional 41 shares during the last quarter. Icon Wealth Advisors LLC bought a new position in Tractor Supply in the 3rd quarter valued at $111,000. Finally, Glen Eagle Advisors LLC raised its position in Tractor Supply by 75.8% in the 3rd quarter. Glen Eagle Advisors LLC now owns 464 shares of the specialty retailer’s stock valued at $135,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 98.72% of the company’s stock.

Insider Activity

In other news, EVP Colin Yankee sold 24,602 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $54.15, for a total value of $1,332,198.30. Following the sale, the executive vice president now directly 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Matthew L. Rubin sold 3,850 shares of the business’s stock in a transaction dated 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 in the company, 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. Insiders have sold a total of 137,993 shares of company stock worth $7,538,068 over the last three months. Corporate insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on TSCO. Loop Capital lifted their target price on Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, December 12th. Mizuho lifted their target price on Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Guggenheim reissued a “buy” rating and issued a $60.00 target price on shares of Tractor Supply in a research note on Friday, January 31st. Telsey Advisory Group reissued an “outperform” rating and issued a $67.00 target price on shares of Tractor Supply in a research note on Thursday, January 30th. Finally, Wells Fargo & Company lowered their target price on Tractor Supply from $65.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Two analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $59.22.

Tractor Supply Stock Up 1.2 %

NASDAQ:TSCO opened at $52.46 on Friday. Tractor Supply has a 1 year low of $48.30 and a 1 year 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 stock has a market cap of $28.01 billion, a price-to-earnings ratio of 25.72, a PEG ratio of 2.95 and a beta of 0.85. The stock has a 50-day moving average price of $55.03 and a two-hundred day moving average price of $55.68.

Tractor Supply (NASDAQ:TSCO) last posted its 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%. As a group, equities analysts expect that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply announced that its board has initiated a stock repurchase program on Thursday, February 13th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to buy up to 3.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Tractor Supply Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 7.01%. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, February 26th. Tractor Supply’s payout ratio is 45.10%.

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.