AXQ Capital LP Buys Shares of 12,489 Tractor Supply (NASDAQ:TSCO)

AXQ Capital LP acquired a new position in shares of Tractor Supply (NASDAQ:TSCO - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 12,489 shares of the specialty retailer's stock, valued at approximately $663,000.

Other institutional investors have also added to or reduced their stakes in the company. Smithfield Trust Co raised its holdings in shares of Tractor Supply by 286.2% in the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock valued at $25,000 after purchasing an additional 352 shares during the last quarter. PrairieView Partners LLC grew its position in Tractor Supply by 400.0% in the fourth quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer's stock valued at $26,000 after purchasing an additional 400 shares in the last quarter. Future Financial Wealth Managment LLC increased its stake in Tractor Supply by 400.0% in the 4th quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer's stock valued at $27,000 after buying an additional 400 shares during the last quarter. Archer Investment Corp lifted its position in Tractor Supply by 400.0% during the 4th quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock worth $27,000 after buying an additional 400 shares in the last quarter. Finally, Kentucky Trust Co acquired a new position in shares of Tractor Supply during the 4th quarter worth about $27,000. 98.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Guggenheim reiterated a "buy" rating and set a $60.00 target price on shares of Tractor Supply in a report on Friday, January 31st. Truist Financial cut their price objective on Tractor Supply from $63.00 to $60.00 and set a "buy" rating for the company in a report on Friday, January 31st. JPMorgan Chase & Co. boosted their target price on shares of Tractor Supply from $58.00 to $59.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Loop Capital increased their price target on shares of Tractor Supply from $53.00 to $58.00 and gave the company a "hold" rating in a research note on Thursday, December 12th. Finally, Bank of America boosted 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 equities research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.22.

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Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $54.59, for a total value of $4,809,106.05. Following the transaction, the chief executive officer now owns 488,852 shares in the company, valued at $26,686,430.68. The trade was a 15.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Melissa Kersey sold 9,300 shares of the business's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $53.17, for a total value of $494,481.00. Following the transaction, the executive vice president now directly owns 34,961 shares of the company's stock, valued at approximately $1,858,876.37. The trade was a 21.01 % 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 over the last three months. Corporate insiders own 0.58% of the company's stock.

Tractor Supply Stock Performance

Shares of NASDAQ:TSCO traded up $0.29 on Thursday, reaching $54.16. 4,651,444 shares of the company's stock were exchanged, compared to its average volume of 4,892,094. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. Tractor Supply has a twelve month low of $48.30 and a twelve month high of $61.53. The company has a fifty day moving average of $55.02 and a 200-day moving average of $55.66. The company has a market capitalization of $28.92 billion, a price-to-earnings ratio of 26.55, a PEG ratio of 2.95 and a beta of 0.85.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 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%. On average, research analysts predict that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 6.79%. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, February 26th. Tractor Supply's dividend payout ratio (DPR) is 45.10%.

Tractor Supply announced that its Board of Directors has authorized a share repurchase plan on Thursday, February 13th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the specialty retailer to buy up to 3.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

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.