Cache Advisors LLC Acquires Shares of 5,255 Tractor Supply (NASDAQ:TSCO)

Cache Advisors LLC acquired a new stake in Tractor Supply (NASDAQ:TSCO) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,255 shares of the specialty retailer’s stock, valued at approximately $279,000.

Several other hedge funds also recently added to or reduced their stakes in TSCO. Park Avenue Securities LLC raised its position in Tractor Supply by 442.1% in 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 during the period. Arkadios Wealth Advisors raised its position in Tractor Supply by 208.2% in 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 during the period. MassMutual Private Wealth & Trust FSB raised its position in Tractor Supply by 500.8% in 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 during the period. Crossmark Global Holdings Inc. raised its position in Tractor Supply by 358.0% in the fourth quarter. Crossmark Global Holdings Inc. now owns 34,460 shares of the specialty retailer’s stock valued at $1,829,000 after purchasing an additional 26,936 shares during the period. Finally, Atomi Financial Group Inc. purchased a new position in Tractor Supply in the fourth quarter valued at about $203,000. 98.72% of the stock is owned by hedge funds and other institutional investors.

Tractor Supply Stock Up 0.1%

NASDAQ:TSCO opened at $49.70 on Friday. The company has a market capitalization of $26.35 billion, a price-to-earnings ratio of 24.36, a price-to-earnings-growth ratio of 2.95 and a beta of 0.82. Tractor Supply has a one year low of $46.85 and a one year high of $61.53. The stock has a 50-day simple moving average of $51.49 and a 200 day simple moving average of $53.97. 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 posted its quarterly earnings results on Thursday, April 24th. The specialty retailer reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). The firm had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.55 billion. Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the business posted $1.83 earnings per share. Sell-side analysts predict that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply declared that its Board of Directors has approved a share buyback plan on Thursday, February 13th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the specialty retailer to purchase 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 stock is undervalued.

Tractor Supply Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th will be paid a $0.23 dividend. The ex-dividend date is Wednesday, May 28th. This represents a $0.92 dividend on an annualized basis and a yield of 1.85%. Tractor Supply’s payout ratio is currently 45.77%.

Insider Buying and Selling 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 value of $145,445.60. Following the completion of the transaction, the senior vice president now directly owns 29,722 shares in the company, valued at $1,538,410.72. The trade was a 8.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.65% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have commented on TSCO shares. UBS Group set a $54.00 price objective on Tractor Supply in a research report on Friday, April 25th. Guggenheim dropped their target price on Tractor Supply from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Stephens initiated coverage on Tractor Supply in a research report on Wednesday, April 9th. They set an “equal weight” rating and a $56.00 target price on the stock. Robert W. Baird dropped their target price on Tractor Supply from $63.00 to $56.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Finally, Telsey Advisory Group set a $60.00 target price on Tractor Supply in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Tractor Supply presently has a consensus rating of “Moderate Buy” and an average price target of $58.02.

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.