Moment Partners LLC Makes New $351,000 Investment in Tractor Supply (NASDAQ:TSCO)

Moment Partners LLC purchased a new stake in Tractor Supply (NASDAQ:TSCO - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,620 shares of the specialty retailer's stock, valued at approximately $351,000.

Several other large investors have also recently added to or reduced their stakes in TSCO. Larson Financial Group LLC lifted its stake 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 during the period. Daiwa Securities Group Inc. boosted its stake in shares of Tractor Supply by 8.0% during the 3rd quarter. Daiwa Securities Group Inc. now owns 17,726 shares of the specialty retailer's stock worth $5,157,000 after acquiring an additional 1,316 shares during the period. Loomis Sayles & Co. L P increased its position in Tractor Supply by 0.4% during the 3rd quarter. Loomis Sayles & Co. L P now owns 46,930 shares of the specialty retailer's stock worth $13,653,000 after buying an additional 177 shares during the period. D.A. Davidson & CO. raised its position in shares of Tractor Supply by 17.3% in the third quarter. D.A. Davidson & CO. now owns 9,685 shares of the specialty retailer's stock valued at $2,818,000 after buying an additional 1,430 shares in the last quarter. Finally, FMR LLC boosted its holdings in shares of Tractor Supply by 7.6% in the 3rd quarter. FMR LLC now owns 163,454 shares of the specialty retailer's stock valued at $47,554,000 after purchasing an additional 11,584 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company's stock.

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Insider Activity at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of the business'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 sale, the senior vice president now owns 31,787 shares of the company's stock, valued at $1,833,792.03. The trade was a 10.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kurt D. Barton sold 12,146 shares of the business's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $56.00, for a total transaction of $680,176.00. Following the completion of the sale, the chief financial officer now owns 47,715 shares in the company, valued at $2,672,040. This represents a 20.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 137,993 shares of company stock worth $7,538,068. 0.24% of the stock is owned by insiders.

Tractor Supply Price Performance

Shares of NASDAQ TSCO traded up $0.92 during mid-day trading on Monday, reaching $54.39. 2,059,745 shares of the company traded hands, compared to its average volume of 5,105,721. The stock has a fifty day simple moving average of $55.03 and a 200-day simple moving average of $55.66. The firm has a market cap of $29.05 billion, a PE ratio of 26.72, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. Tractor Supply has a fifty-two week low of $48.30 and a fifty-two week high of $61.53. 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 released 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%. Equities research analysts anticipate that Tractor Supply will post 2.17 EPS for the current fiscal year.

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

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 $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 6.77%. This is an increase from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. Tractor Supply's dividend payout ratio (DPR) is presently 45.10%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Barclays dropped their target price on shares of Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating on the stock in a report on Monday, December 30th. Bank of America increased their target price on shares of Tractor Supply from $44.00 to $53.00 and gave the company an "underperform" rating in a research report on Thursday, January 16th. Guggenheim reiterated a "buy" rating and issued a $60.00 target price on shares of Tractor Supply in a research note on Friday, January 31st. Truist Financial decreased their price target 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. Finally, JPMorgan Chase & Co. upped their price objective on shares of Tractor Supply from $58.00 to $59.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus 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.