Bridgewater Associates LP Buys Shares of 170,075 Tractor Supply (NASDAQ:TSCO)

Bridgewater Associates LP bought a new stake in shares of Tractor Supply (NASDAQ:TSCO - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 170,075 shares of the specialty retailer's stock, valued at approximately $9,024,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Tractor Supply by 392.5% in the 4th quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer's stock valued at $3,397,643,000 after purchasing an additional 51,031,178 shares in the last quarter. Wellington Management Group LLP grew its stake in Tractor Supply by 401.8% in the 4th quarter. Wellington Management Group LLP now owns 23,789,249 shares of the specialty retailer's stock valued at $1,262,258,000 after acquiring an additional 19,048,385 shares during the period. Alliancebernstein L.P. raised its position in Tractor Supply by 403.3% during the fourth quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer's stock worth $1,180,932,000 after acquiring an additional 17,834,643 shares during the period. Geode Capital Management LLC grew its position in shares of Tractor Supply by 403.2% in the fourth quarter. Geode Capital Management LLC now owns 14,519,937 shares of the specialty retailer's stock valued at $768,838,000 after purchasing an additional 11,634,249 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Tractor Supply by 391.0% during the fourth quarter. JPMorgan Chase & Co. now owns 10,821,654 shares of the specialty retailer's stock worth $574,197,000 after purchasing an additional 8,617,869 shares in the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

Tractor Supply Stock Up 2.2 %

NASDAQ:TSCO traded up $1.07 during trading hours on Tuesday, hitting $50.66. The company's stock had a trading volume of 739,580 shares, compared to its average volume of 5,094,929. 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 52-week low of $46.97 and a 52-week high of $61.53. The stock has a market capitalization of $26.93 billion, a P/E ratio of 24.83, a price-to-earnings-growth ratio of 2.95 and a beta of 0.88. The stock has a fifty day moving average of $53.62 and a 200-day moving average of $55.01.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued 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 return on equity of 49.01% and a net margin of 7.40%. On average, equities analysts forecast that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were given a $0.92 dividend. The ex-dividend date was Wednesday, February 26th. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. This represents a $3.68 dividend on an annualized basis and a dividend yield of 7.26%. Tractor Supply's dividend payout ratio is 45.10%.

Tractor Supply announced that its Board of Directors has authorized a stock buyback program on Thursday, February 13th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the specialty retailer to repurchase up to 3.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have commented on TSCO shares. Mizuho increased their target price on Tractor Supply from $60.00 to $62.00 and gave the company an "outperform" rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. boosted their target price on Tractor Supply from $58.00 to $59.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Bank of America lifted their price objective on Tractor Supply from $44.00 to $53.00 and gave the stock an "underperform" rating in a research report on Thursday, January 16th. Barclays lowered their price target on shares of Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating on the stock in a research report on Monday, December 30th. Finally, Telsey Advisory Group reissued an "outperform" rating and issued a $67.00 price target on shares of Tractor Supply in a research note on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $59.07.

Insider Buying and Selling

In related news, SVP Matthew L. Rubin sold 3,850 shares of the company's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total value of $222,106.50. Following the completion of the sale, the senior vice president now owns 31,787 shares in the company, valued at $1,833,792.03. This represents a 10.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kurt D. Barton sold 12,146 shares of Tractor Supply stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $56.00, for a total transaction of $680,176.00. Following the completion of the transaction, the chief financial officer now owns 47,715 shares in the company, valued at approximately $2,672,040. This represents a 20.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,993 shares of company stock worth $7,538,068 in the last quarter. 0.65% of the stock is owned by insiders.

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.