Oxford Asset Management LLP Takes Position in Tractor Supply (NASDAQ:TSCO)

Oxford Asset Management LLP acquired a new position in shares of Tractor Supply (NASDAQ:TSCO - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 34,099 shares of the specialty retailer's stock, valued at approximately $1,809,000. Tractor Supply comprises 0.9% of Oxford Asset Management LLP's investment portfolio, making the stock its 6th largest holding.

A number of other institutional investors also recently bought and sold shares of the company. CIBC Private Wealth Group LLC increased its stake in Tractor Supply by 385.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,089,542 shares of the specialty retailer's stock worth $59,260,000 after purchasing an additional 865,273 shares during the period. BOK Financial Private Wealth Inc. boosted its holdings in Tractor Supply by 330.2% in the fourth quarter. BOK Financial Private Wealth Inc. now owns 21,355 shares of the specialty retailer's stock valued at $1,133,000 after purchasing an additional 16,391 shares during the period. Blueshift Asset Management LLC grew its stake in Tractor Supply by 571.8% during the 4th quarter. Blueshift Asset Management LLC now owns 66,815 shares of the specialty retailer's stock worth $3,545,000 after purchasing an additional 56,870 shares in the last quarter. Heritage Trust Co purchased a new stake in Tractor Supply during the 4th quarter worth about $1,829,000. Finally, Callan Family Office LLC acquired a new stake in Tractor Supply in the 4th quarter valued at about $503,000. 98.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TSCO has been the topic of a number of recent research reports. Barclays cut 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 research note on Monday, December 30th. JPMorgan Chase & Co. reduced their price objective on shares of Tractor Supply from $59.00 to $56.00 and set a "neutral" rating on the stock in a report on Monday. UBS Group set a $54.00 target price on shares of Tractor Supply in a research note on Friday. Mizuho decreased their target price on Tractor Supply from $62.00 to $58.00 and set an "outperform" rating for the company in a research note on Friday. Finally, Robert W. Baird dropped their price target on Tractor Supply from $63.00 to $56.00 and set an "outperform" rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Tractor Supply has an average rating of "Moderate Buy" and a consensus target price of $58.02.

Insider Buying and Selling

In related news, EVP Melissa Kersey sold 9,300 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $53.17, for a total value of $494,481.00. Following the completion of the transaction, the executive vice president now owns 34,961 shares of the company's stock, valued at approximately $1,858,876.37. This represents a 21.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $54.59, for a total value of $4,809,106.05. Following the sale, the chief executive officer now owns 488,852 shares in the company, valued at $26,686,430.68. This represents a 15.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,993 shares of company stock valued at $7,538,068 in the last quarter. Company insiders own 0.65% of the company's stock.

Tractor Supply Trading Up 1.8 %

TSCO stock traded up $0.87 during midday trading on Tuesday, reaching $49.87. 3,464,401 shares of the company's stock traded hands, compared to its average volume of 5,112,530. 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 has a fifty-two week low of $46.85 and a fifty-two week high of $61.53. The business has a 50-day moving average price of $52.70 and a two-hundred day moving average price of $54.62. The company has a market capitalization of $26.51 billion, a P/E ratio of 24.45, a PEG ratio of 2.95 and a beta of 0.88.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $0.34 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.03). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. The company had revenue of $3.47 billion during the quarter, compared to analysts' expectations of $3.55 billion. During the same period last year, the business earned $1.83 earnings per share. The company's revenue for the quarter was up 2.1% compared to the same quarter last year. Equities research analysts forecast that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were paid a $0.92 dividend. The ex-dividend date was Wednesday, February 26th. This is an increase from Tractor Supply's previous quarterly dividend of $0.22. This represents a $3.68 annualized dividend and a dividend yield of 7.38%. Tractor Supply's dividend payout ratio is 45.77%.

Tractor Supply announced that its Board of Directors has initiated a share repurchase 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 reacquire up to 3.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Tractor Supply 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.