Tractor Supply (NASDAQ:TSCO) Position Boosted by Anchor Investment Management LLC

Anchor Investment Management LLC increased its position in Tractor Supply (NASDAQ:TSCO - Free Report) by 393.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,465 shares of the specialty retailer's stock after acquiring an additional 31,467 shares during the quarter. Anchor Investment Management LLC's holdings in Tractor Supply were worth $2,094,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Bridgewater Associates LP purchased a new position in Tractor Supply during the fourth quarter valued at $9,024,000. AGP Franklin LLC purchased a new stake in shares of Tractor Supply during the fourth quarter worth about $2,522,000. Guggenheim Capital LLC grew its holdings in shares of Tractor Supply by 381.5% in the fourth quarter. Guggenheim Capital LLC now owns 11,632 shares of the specialty retailer's stock valued at $617,000 after purchasing an additional 9,216 shares in the last quarter. Aware Super Pty Ltd as trustee of Aware Super bought a new position in Tractor Supply during the 4th quarter valued at about $3,198,000. Finally, Canada Post Corp Registered Pension Plan bought a new stake in Tractor Supply during the 4th quarter valued at about $499,000. 98.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Barclays decreased 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. JPMorgan Chase & Co. boosted their price target on shares of Tractor Supply from $58.00 to $59.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Stephens initiated coverage on Tractor Supply in a research report on Wednesday, April 9th. They issued an "equal weight" rating and a $56.00 target price on the stock. Guggenheim restated a "buy" rating and set a $60.00 target price on shares of Tractor Supply in a research note on Friday, January 31st. Finally, Mizuho lifted their target price on Tractor Supply from $60.00 to $62.00 and gave the stock an "outperform" rating in a research report on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $59.07.

Tractor Supply Price Performance

Shares of Tractor Supply stock traded up $0.75 during trading hours on Friday, reaching $50.11. 4,481,903 shares of the company's stock were exchanged, compared to its average volume of 5,117,015. The business has a fifty day moving average of $53.74 and a two-hundred day moving average of $55.13. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $26.64 billion, a P/E ratio of 24.56, a price-to-earnings-growth 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.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its earnings results 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%. As a group, research analysts predict that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were given a dividend of $0.92 per share. This is a positive change from Tractor Supply's previous quarterly dividend of $0.22. This represents a $3.68 annualized dividend and a dividend yield of 7.34%. The ex-dividend date of this dividend was Wednesday, February 26th. Tractor Supply's dividend payout ratio (DPR) is currently 45.10%.

Tractor Supply declared that its board has authorized a share buyback program 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 shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Insider Activity at Tractor Supply

In other 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 transaction, the senior vice president now owns 31,787 shares in the company, valued at approximately $1,833,792.03. This represents a 10.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Melissa Kersey sold 9,300 shares of Tractor Supply stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $53.17, for a total transaction of $494,481.00. Following the sale, the executive vice president now owns 34,961 shares in the company, valued at $1,858,876.37. This represents a 21.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,993 shares of company stock worth $7,538,068 in the last three months. 0.24% of the stock is owned by company insiders.

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.