Tractor Supply (NASDAQ:TSCO) Stock Position Increased by Quadrant Capital Group LLC

Quadrant Capital Group LLC raised its position in shares of Tractor Supply (NASDAQ:TSCO) by 398.6% in the fourth quarter, HoldingsChannel reports. The firm owned 4,722 shares of the specialty retailer’s stock after acquiring an additional 3,775 shares during the period. Quadrant Capital Group LLC’s holdings in Tractor Supply were worth $251,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cascades Capital Asset Management LLC grew its stake in shares of Tractor Supply by 401.9% in the fourth quarter. Cascades Capital Asset Management LLC now owns 4,020 shares of the specialty retailer’s stock worth $213,000 after purchasing an additional 3,219 shares in the last quarter. Ilmarinen Mutual Pension Insurance Co grew its position in Tractor Supply by 799.8% in the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 112,525 shares of the specialty retailer’s stock valued at $5,971,000 after buying an additional 100,020 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Tractor Supply by 927.7% during the 4th quarter. Russell Investments Group Ltd. now owns 379,785 shares of the specialty retailer’s stock valued at $20,137,000 after buying an additional 342,831 shares during the period. Payden & Rygel bought a new stake in shares of Tractor Supply during the 4th quarter worth about $7,932,000. Finally, Envestnet Asset Management Inc. raised its position in shares of Tractor Supply by 383.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 4,884,923 shares of the specialty retailer’s stock worth $259,194,000 after buying an additional 3,874,333 shares in the last quarter. Institutional investors own 98.72% of the company’s stock.

Insider Activity

In other Tractor Supply news, CEO Harry A. Lawton III sold 88,095 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $54.59, for a total transaction of $4,809,106.05. Following the transaction, the chief executive officer now directly owns 488,852 shares in the company, valued at $26,686,430.68. This trade represents a 15.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 completion of the sale, the executive vice president now directly owns 33,645 shares of the company’s stock, valued at $1,821,876.75. This represents a 42.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 137,993 shares of company stock worth $7,538,068 in the last three months. 0.24% of the stock is owned by insiders.

Tractor Supply Trading Down 2.7 %

NASDAQ:TSCO opened at $48.02 on Wednesday. The stock has a market cap of $25.53 billion, a PE ratio of 23.54, a price-to-earnings-growth ratio of 2.95 and a beta of 0.88. Tractor Supply has a fifty-two week low of $47.25 and a fifty-two week high of $61.53. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. The stock’s 50-day moving average is $54.30 and its two-hundred day moving average is $55.48.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share for the quarter, missing the consensus estimate 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 research analysts forecast that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply announced that its Board of Directors has initiated a share repurchase program on Thursday, February 13th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the specialty retailer to reacquire up to 3.3% of its shares through open market purchases. Shares buyback 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. Shareholders of record on Wednesday, February 26th were given a $0.92 dividend. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 annualized dividend and a yield of 7.66%. The ex-dividend date of this dividend was Wednesday, February 26th. Tractor Supply’s dividend payout ratio is presently 45.10%.

Analysts Set New Price Targets

A number of research firms recently commented on TSCO. 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. Loop Capital upped 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. Guggenheim reaffirmed a “buy” rating and set a $60.00 target price on shares of Tractor Supply in a report on Friday, January 31st. JPMorgan Chase & Co. upped their price target on shares of Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Finally, Bank of America lifted their price objective 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. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently 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.