Adage Capital Partners GP L.L.C. Has $19.72 Million Stake in Tractor Supply (NASDAQ:TSCO)

Adage Capital Partners GP L.L.C. raised its holdings in Tractor Supply (NASDAQ:TSCO - Free Report) by 112.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 371,600 shares of the specialty retailer's stock after purchasing an additional 196,550 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.07% of Tractor Supply worth $19,717,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. CIBC Private Wealth Group LLC grew its position in Tractor Supply by 385.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,089,542 shares of the specialty retailer's stock worth $59,260,000 after buying an additional 865,273 shares in the last quarter. BOK Financial Private Wealth Inc. increased its position in shares of Tractor Supply by 330.2% in the fourth quarter. BOK Financial Private Wealth Inc. now owns 21,355 shares of the specialty retailer's stock worth $1,133,000 after purchasing an additional 16,391 shares during the period. Blueshift Asset Management LLC increased its position in shares of Tractor Supply by 571.8% in the fourth quarter. Blueshift Asset Management LLC now owns 66,815 shares of the specialty retailer's stock worth $3,545,000 after purchasing an additional 56,870 shares during the period. Heritage Trust Co acquired a new position in Tractor Supply in the fourth quarter valued at about $1,829,000. Finally, Callan Family Office LLC bought a new stake in Tractor Supply during the fourth quarter worth about $503,000. 98.72% of the stock is owned by institutional investors.

Tractor Supply Stock Performance

Shares of Tractor Supply stock opened at $49.92 on Friday. The stock has a market cap of $26.54 billion, a price-to-earnings ratio of 24.47, a P/E/G ratio of 2.95 and a beta of 0.88. Tractor Supply has a twelve month low of $46.85 and a twelve month high of $61.53. The company's fifty day moving average is $53.04 and its 200 day moving average is $54.76. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released 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). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. The company had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.55 billion. Sell-side analysts forecast that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were issued a dividend of $0.92 per share. This is a positive change from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 annualized dividend and a yield of 7.37%. Tractor Supply's dividend payout ratio (DPR) is presently 45.77%.

Tractor Supply declared that its board has initiated a share buyback plan on Thursday, February 13th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to buy up to 3.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms have commented on TSCO. Robert W. Baird decreased their target price on shares of Tractor Supply from $63.00 to $56.00 and set an "outperform" rating on the stock in a report on Friday. Telsey Advisory Group restated an "outperform" rating and set a $67.00 price objective on shares of Tractor Supply in a research report on Thursday. Truist Financial cut their target price on Tractor Supply from $63.00 to $60.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Stephens started coverage on Tractor Supply in a research note on Wednesday, April 9th. They issued an "equal weight" rating and a $56.00 price target on the stock. Finally, Barclays dropped their price objective on 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. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $58.62.

Insider Transactions at Tractor Supply

In other Tractor Supply news, EVP Melissa Kersey sold 9,300 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $53.17, for a total transaction of $494,481.00. Following the completion of the sale, the executive vice president now directly owns 34,961 shares in the company, valued at approximately $1,858,876.37. This trade represents a 21.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 shares were sold at an average price of $54.59, for a total value 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 represents a 15.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 137,993 shares of company stock worth $7,538,068. Company insiders own 0.65% of the company's stock.

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.

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