Condor Capital Management Acquires 34,073 Shares of Tractor Supply (NASDAQ:TSCO)

Condor Capital Management raised its holdings in Tractor Supply (NASDAQ:TSCO - Free Report) by 391.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 42,779 shares of the specialty retailer's stock after buying an additional 34,073 shares during the quarter. Condor Capital Management's holdings in Tractor Supply were worth $2,270,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of TSCO. Providence Capital Advisors LLC acquired a new stake in shares of Tractor Supply in the 3rd quarter valued at about $32,000. Larson Financial Group LLC increased its holdings in shares of Tractor Supply by 29.4% during the third quarter. Larson Financial Group LLC now owns 286 shares of the specialty retailer's stock valued at $83,000 after acquiring an additional 65 shares in the last quarter. First Horizon Advisors Inc. raised its position in shares of Tractor Supply by 13.2% during the third quarter. First Horizon Advisors Inc. now owns 351 shares of the specialty retailer's stock worth $102,000 after purchasing an additional 41 shares during the period. Icon Wealth Advisors LLC bought a new position in shares of Tractor Supply in the 3rd quarter worth $111,000. Finally, Glen Eagle Advisors LLC grew its position in Tractor Supply by 75.8% in the 3rd quarter. Glen Eagle Advisors LLC now owns 464 shares of the specialty retailer's stock valued at $135,000 after purchasing an additional 200 shares during the period. Institutional investors own 98.72% of the company's stock.

Insider Activity

In related news, EVP Colin Yankee sold 24,602 shares of the business's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $54.15, for a total transaction of $1,332,198.30. Following the completion of the transaction, the executive vice president now directly owns 33,645 shares in the company, valued at $1,821,876.75. The trade was a 42.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Matthew L. Rubin sold 3,850 shares of the firm's 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 sale, the senior vice president now directly 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 have sold a total of 137,993 shares of company stock worth $7,538,068 over the last ninety days. Company insiders own 0.24% of the company's stock.

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Tractor Supply Stock Performance

Shares of TSCO stock traded up $1.07 on Monday, hitting $53.53. 3,391,244 shares of the stock were exchanged, compared to its average volume of 4,899,696. The firm has a market capitalization of $28.59 billion, a PE ratio of 26.24, a P/E/G ratio of 2.95 and a beta of 0.85. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. The firm's 50 day moving average is $55.01 and its two-hundred day moving average is $55.68. Tractor Supply has a one year low of $48.30 and a one year high of $61.53.

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 return on equity of 49.01% and a net margin of 7.40%. Sell-side analysts expect that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply announced that its Board of Directors has initiated a stock buyback program on Thursday, February 13th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the specialty retailer to reacquire up to 3.3% of its shares through open market purchases. Shares buyback programs are usually an indication 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. Shareholders of record on Wednesday, February 26th were issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 6.87%. The ex-dividend date was Wednesday, February 26th. This is a positive change from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's payout ratio is presently 45.10%.

Wall Street Analyst Weigh In

TSCO has been the topic of a number of recent research reports. Truist Financial dropped their price objective on shares of Tractor Supply from $63.00 to $60.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. JPMorgan Chase & Co. boosted their price objective on Tractor Supply from $58.00 to $59.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Telsey Advisory Group restated an "outperform" rating and issued a $67.00 target price on shares of Tractor Supply in a report on Thursday, January 30th. Barclays decreased their price target on Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating for the company in a report on Monday, December 30th. Finally, Bank of America raised their price objective on Tractor Supply from $44.00 to $53.00 and gave the company an "underperform" rating in a research note on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $59.22.

About Tractor Supply

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.