CTC Alternative Strategies Ltd. Acquires New Stake in Tractor Supply (NASDAQ:TSCO)

CTC Alternative Strategies Ltd. acquired a new stake in shares of Tractor Supply (NASDAQ:TSCO) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 3,807 shares of the specialty retailer’s stock, valued at approximately $202,000.

Several other large investors also recently added to or reduced their stakes in TSCO. Park Avenue Securities LLC boosted its stake 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 buying an additional 6,233 shares during the period. Arkadios Wealth Advisors lifted its stake in Tractor Supply by 208.2% during the fourth quarter. Arkadios Wealth Advisors now owns 5,482 shares of the specialty retailer’s stock worth $291,000 after purchasing an additional 3,703 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake 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 worth $80,000 after purchasing an additional 1,252 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in Tractor Supply by 358.0% during the fourth quarter. Crossmark Global Holdings Inc. now owns 34,460 shares of the specialty retailer’s stock worth $1,829,000 after purchasing an additional 26,936 shares during the last quarter. Finally, Atomi Financial Group Inc. bought a new stake in Tractor Supply during the fourth quarter worth about $203,000. Institutional investors own 98.72% of the company’s stock.

Insiders Place Their Bets

In other Tractor Supply news, SVP Matthew L. Rubin sold 2,810 shares of the company’s 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 transaction, the senior vice president now owns 29,722 shares in the company, valued at approximately $1,538,410.72. This represents a 8.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.65% of the company’s stock.

Tractor Supply Stock Up 0.1%

Shares of NASDAQ:TSCO opened at $49.70 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 $26.35 billion, a PE ratio of 24.36, 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 $51.49 and its 200 day moving average is $53.97.

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 declared that its board has authorized a share repurchase program on Thursday, February 13th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the specialty retailer to buy up to 3.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.

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 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%.

Wall Street Analysts Forecast Growth

TSCO has been the subject of several research analyst reports. Mizuho dropped their price target on Tractor Supply from $62.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Guggenheim dropped their price target on Tractor Supply from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Robert W. Baird dropped their price target on Tractor Supply from $63.00 to $56.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Stephens initiated coverage on Tractor Supply in a research note on Wednesday, April 9th. They set an “equal weight” rating and a $56.00 price target for the company. Finally, Citigroup dropped their price target on Tractor Supply from $59.00 to $51.00 and set a “neutral” rating for the company in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tractor Supply presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.02.

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.