Mariner LLC Increases Stock Position in Tractor Supply (NASDAQ:TSCO)

Mariner LLC boosted its position in Tractor Supply (NASDAQ:TSCO - Free Report) by 405.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 184,683 shares of the specialty retailer's stock after acquiring an additional 148,128 shares during the quarter. Mariner LLC's holdings in Tractor Supply were worth $9,798,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new position in shares of Tractor Supply in the 3rd quarter valued at about $220,000. Wilmington Savings Fund Society FSB purchased a new position in Tractor Supply in the third quarter valued at approximately $734,000. Tidal Investments LLC increased its stake in Tractor Supply by 722.5% in the third quarter. Tidal Investments LLC now owns 95,172 shares of the specialty retailer's stock valued at $27,688,000 after purchasing an additional 83,601 shares during the last quarter. Franklin Resources Inc. raised its holdings in Tractor Supply by 2.0% during the third quarter. Franklin Resources Inc. now owns 454,175 shares of the specialty retailer's stock worth $137,950,000 after purchasing an additional 8,890 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of Tractor Supply by 345.6% during the 4th quarter. Versant Capital Management Inc now owns 860 shares of the specialty retailer's stock worth $46,000 after buying an additional 667 shares during the last quarter. Institutional investors and hedge funds own 98.72% of the company's stock.

Analyst Upgrades and Downgrades

TSCO has been the subject of several research analyst reports. Barclays decreased their price objective 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. JPMorgan Chase & Co. raised their price objective on shares of Tractor Supply from $58.00 to $59.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $67.00 target price on shares of Tractor Supply in a report on Thursday, April 17th. Bank of America raised their price target on Tractor Supply from $44.00 to $53.00 and gave the stock an "underperform" rating in a report on Thursday, January 16th. Finally, Mizuho upped their price objective on Tractor Supply from $60.00 to $62.00 and gave the company an "outperform" rating in a research note on Thursday, January 23rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $59.07.

Insider Buying and Selling

In other news, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $54.59, for a total transaction of $4,809,106.05. Following the completion of the sale, the chief executive officer now directly owns 488,852 shares in the company, valued at $26,686,430.68. The trade was a 15.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Matthew L. Rubin sold 3,850 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total transaction of $222,106.50. Following the transaction, the senior vice president now directly owns 31,787 shares in the company, valued at $1,833,792.03. The trade was a 10.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 137,993 shares of company stock worth $7,538,068. 0.65% of the stock is owned by corporate insiders.

Tractor Supply Price Performance

NASDAQ:TSCO traded up $1.15 during mid-day trading on Wednesday, hitting $51.43. 1,263,888 shares of the company's stock traded hands, compared to its average volume of 5,099,786. Tractor Supply has a 1 year low of $46.97 and a 1 year high of $61.53. The company has a market cap of $27.34 billion, a PE ratio of 25.21, a price-to-earnings-growth ratio of 2.95 and a beta of 0.88. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. The firm's 50 day simple moving average is $53.48 and its 200 day simple moving average is $54.97.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share (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 EPS for the current year.

Tractor Supply Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were paid a dividend of $0.92 per share. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 7.16%. This is a positive change from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's dividend payout ratio (DPR) is presently 45.10%.

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

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.