Tractor Supply (NASDAQ:TSCO) Shares Acquired by Brant Point Investment Management LLC

Brant Point Investment Management LLC increased its holdings in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 406.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 66,545 shares of the specialty retailer's stock after purchasing an additional 53,415 shares during the period. Brant Point Investment Management LLC's holdings in Tractor Supply were worth $3,531,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Commerce Bank grew its position in Tractor Supply by 393.8% during the 4th quarter. Commerce Bank now owns 159,213 shares of the specialty retailer's stock worth $8,448,000 after purchasing an additional 126,973 shares during the period. Capital Group Private Client Services Inc. raised its position in Tractor Supply by 374.0% during the fourth quarter. Capital Group Private Client Services Inc. now owns 961,656 shares of the specialty retailer's stock worth $51,025,000 after acquiring an additional 758,774 shares during the period. Capital International Investors lifted its holdings in Tractor Supply by 334.7% during the fourth quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer's stock valued at $818,421,000 after purchasing an additional 11,880,010 shares in the last quarter. Capital International Sarl grew its position in shares of Tractor Supply by 404.6% in the fourth quarter. Capital International Sarl now owns 53,055 shares of the specialty retailer's stock valued at $2,815,000 after purchasing an additional 42,541 shares during the period. Finally, Alpha DNA Investment Management LLC increased its stake in shares of Tractor Supply by 435.9% during the fourth quarter. Alpha DNA Investment Management LLC now owns 11,335 shares of the specialty retailer's stock worth $601,000 after purchasing an additional 9,220 shares in the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Tractor Supply Trading Up 2.3 %

Shares of TSCO stock traded up $1.17 on Wednesday, hitting $51.45. The stock had a trading volume of 2,564,332 shares, compared to its average volume of 5,104,449. The company's 50 day moving average price is $53.48 and its 200-day moving average price is $54.97. Tractor Supply has a 1 year low of $46.97 and a 1 year high of $61.53. The firm has a market capitalization of $27.35 billion, a P/E ratio of 25.22, a P/E/G ratio of 2.95 and a beta of 0.88. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted 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%. Analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply declared that its Board of Directors has approved a stock buyback 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 repurchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its stock is undervalued.

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were issued a $0.92 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This is a positive change from Tractor Supply's previous quarterly dividend of $0.22. This represents a $3.68 dividend on an annualized basis and a yield of 7.15%. Tractor Supply's dividend payout ratio (DPR) is 45.10%.

Insider Buying and Selling

In other news, EVP Melissa Kersey sold 9,300 shares of Tractor Supply stock in a transaction on Thursday, February 6th. The shares were 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 of the company's stock, valued at approximately $1,858,876.37. The trade was a 21.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Matthew L. Rubin sold 3,850 shares of the stock in a transaction dated 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. The trade was a 10.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 137,993 shares of company stock valued at $7,538,068 in the last three months. 0.65% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

TSCO has been the subject of several research reports. Stephens assumed coverage on Tractor Supply in a research note on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 price objective for the company. JPMorgan Chase & Co. boosted their price target on Tractor Supply from $58.00 to $59.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Mizuho raised their price objective on Tractor Supply from $60.00 to $62.00 and gave the company an "outperform" rating in a report on Thursday, January 23rd. Guggenheim reiterated a "buy" rating and issued a $60.00 target price on shares of Tractor Supply in a research report on Friday, January 31st. Finally, Telsey Advisory Group restated an "outperform" rating and set a $67.00 price target on shares of Tractor Supply in a research report on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Tractor Supply currently has a consensus rating of "Moderate Buy" and an average price target of $59.07.

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.