USS Investment Management Ltd Grows Stock Holdings in Tractor Supply (NASDAQ:TSCO)

USS Investment Management Ltd raised its position in shares of Tractor Supply (NASDAQ:TSCO) by 231.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 90,905 shares of the specialty retailer’s stock after purchasing an additional 63,478 shares during the period. USS Investment Management Ltd’s holdings in Tractor Supply were worth $4,825,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TSCO. Park Avenue Securities LLC raised its position in Tractor Supply by 442.1% during the fourth quarter. Park Avenue Securities LLC now owns 7,643 shares of the specialty retailer’s stock valued at $406,000 after purchasing an additional 6,233 shares in the last quarter. Arkadios Wealth Advisors raised its position in Tractor Supply by 208.2% during the fourth quarter. Arkadios Wealth Advisors now owns 5,482 shares of the specialty retailer’s stock valued at $291,000 after purchasing an additional 3,703 shares in the last quarter. Diversify Advisory Services LLC raised its position in Tractor Supply by 374.6% during the fourth quarter. Diversify Advisory Services LLC now owns 5,012 shares of the specialty retailer’s stock valued at $274,000 after purchasing an additional 3,956 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Tractor Supply by 500.8% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,502 shares of the specialty retailer’s stock valued at $80,000 after purchasing an additional 1,252 shares in the last quarter. Finally, Harbor Investment Advisory LLC raised its position in Tractor Supply by 400.0% during the fourth quarter. Harbor Investment Advisory LLC now owns 555 shares of the specialty retailer’s stock valued at $29,000 after purchasing an additional 444 shares in the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Stock Down 0.7%

Shares of NASDAQ:TSCO opened at $49.67 on Friday. Tractor Supply has a 1 year low of $46.85 and a 1 year high of $61.53. The company has a market cap of $26.34 billion, a PE ratio of 24.35, a P/E/G ratio of 2.95 and a beta of 0.82. 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 $51.55 and its 200 day moving average is $54.01.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. The business had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.55 billion. During the same quarter in the prior year, the firm earned $1.83 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. Sell-side analysts anticipate that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $0.92 dividend on an annualized basis and a yield of 1.85%. Tractor Supply’s dividend payout ratio is presently 45.77%.

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Stephens assumed coverage on Tractor Supply in a research report on Wednesday, April 9th. They set an “equal weight” rating and a $56.00 price target on the stock. UBS Group set a $54.00 price objective on Tractor Supply in a report on Friday, April 25th. JPMorgan Chase & Co. decreased their price objective on Tractor Supply from $59.00 to $56.00 and set a “neutral” rating on the stock in a report on Monday, April 28th. Telsey Advisory Group set a $60.00 price objective on Tractor Supply in a report on Friday, April 25th. Finally, Guggenheim decreased their price objective on Tractor Supply from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Tractor Supply currently has an average rating of “Moderate Buy” and an average target price of $58.02.

Insider Activity at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 2,810 shares of Tractor Supply stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $51.76, for a total transaction of $145,445.60. Following the sale, the senior vice president now directly owns 29,722 shares of the company’s stock, valued at approximately $1,538,410.72. The trade was a 8.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.65% of the stock is owned by company insiders.

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.