AGP Franklin LLC Takes Position in Tractor Supply (NASDAQ:TSCO)

AGP Franklin LLC acquired a new stake in shares of Tractor Supply (NASDAQ:TSCO - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 47,532 shares of the specialty retailer's stock, valued at approximately $2,522,000. Tractor Supply makes up about 1.5% of AGP Franklin LLC's investment portfolio, making the stock its 23rd largest position.

Other hedge funds also recently made changes to their positions in the company. XTX Topco Ltd acquired a new stake in Tractor Supply during the 3rd quarter valued at $220,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Tractor Supply in the 3rd quarter valued at approximately $734,000. Tidal Investments LLC raised its position in Tractor Supply by 722.5% during the third quarter. Tidal Investments LLC now owns 95,172 shares of the specialty retailer's stock valued at $27,688,000 after acquiring an additional 83,601 shares in the last quarter. Franklin Resources Inc. lifted its stake in Tractor Supply by 2.0% in the third quarter. Franklin Resources Inc. now owns 454,175 shares of the specialty retailer's stock valued at $137,950,000 after acquiring an additional 8,890 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in Tractor Supply by 345.6% in the fourth quarter. Versant Capital Management Inc now owns 860 shares of the specialty retailer's stock worth $46,000 after acquiring an additional 667 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TSCO. Bank of America raised their target price on Tractor Supply from $44.00 to $53.00 and gave the company an "underperform" rating in a report on Thursday, January 16th. Stephens started coverage on shares of Tractor Supply in a research note on Wednesday, April 9th. They issued an "equal weight" rating and a $56.00 price objective for the company. Mizuho upped their price objective on shares of Tractor Supply from $60.00 to $62.00 and gave the stock an "outperform" rating in a report on Thursday, January 23rd. Barclays cut their target price on shares of Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating for the company in a research report on Monday, December 30th. Finally, JPMorgan Chase & Co. raised their price target on Tractor Supply from $58.00 to $59.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Tractor Supply presently has an average rating of "Moderate Buy" and an average price target of $59.07.

Insider Buying and Selling

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of the business's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $57.69, for a total value of $222,106.50. Following the transaction, the senior vice president now owns 31,787 shares of the company's stock, valued at approximately $1,833,792.03. The trade was a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Harry A. Lawton III sold 88,095 shares of the business's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $54.59, for a total transaction of $4,809,106.05. Following the completion of the transaction, the chief executive officer now directly owns 488,852 shares in the company, valued at $26,686,430.68. This trade represents a 15.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 137,993 shares of company stock worth $7,538,068. 0.24% of the stock is owned by insiders.

Tractor Supply Trading Up 1.5 %

NASDAQ TSCO traded up $0.75 during trading hours on Friday, hitting $50.11. 4,481,903 shares of the company's stock were exchanged, compared to its average volume of 5,113,095. The firm has a market cap of $26.64 billion, a price-to-earnings ratio of 24.56, a PEG ratio of 2.95 and a beta of 0.88. Tractor Supply has a 1-year low of $46.97 and a 1-year high of $61.53. The stock has a 50-day simple moving average of $53.84 and a 200 day simple moving average of $55.19. 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 (NASDAQ:TSCO - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 EPS for the quarter, missing the consensus estimate 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, equities analysts forecast that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were issued a $0.92 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $3.68 annualized dividend and a dividend yield of 7.34%. This is an increase from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's dividend payout ratio is currently 45.10%.

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

Tractor Supply Company 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.