Parallel Advisors LLC Buys 7,139 Shares of Tractor Supply (NASDAQ:TSCO)

Parallel Advisors LLC boosted its holdings in Tractor Supply (NASDAQ:TSCO - Free Report) by 477.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,634 shares of the specialty retailer's stock after acquiring an additional 7,139 shares during the quarter. Parallel Advisors LLC's holdings in Tractor Supply were worth $458,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Baldwin Investment Management LLC increased its holdings in Tractor Supply by 0.3% during the 3rd quarter. Baldwin Investment Management LLC now owns 11,402 shares of the specialty retailer's stock valued at $3,317,000 after acquiring an additional 38 shares in the last quarter. First Horizon Advisors Inc. grew its position in shares of Tractor Supply by 13.2% in the third quarter. First Horizon Advisors Inc. now owns 351 shares of the specialty retailer's stock valued at $102,000 after purchasing an additional 41 shares during the last quarter. Cynosure Group LLC increased its stake in shares of Tractor Supply by 2.8% during the 3rd quarter. Cynosure Group LLC now owns 1,529 shares of the specialty retailer's stock worth $445,000 after purchasing an additional 42 shares in the last quarter. Larson Financial Group LLC raised its position in shares of Tractor Supply by 29.4% during the 3rd quarter. Larson Financial Group LLC now owns 286 shares of the specialty retailer's stock worth $83,000 after purchasing an additional 65 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co lifted its stake in Tractor Supply by 7.1% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 978 shares of the specialty retailer's stock valued at $285,000 after buying an additional 65 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company's stock.

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Tractor Supply Price Performance

Shares of TSCO traded up $1.04 during midday trading on Wednesday, reaching $53.87. The stock had a trading volume of 2,454,461 shares, compared to its average volume of 4,886,410. The firm's 50 day moving average price is $55.00 and its 200-day moving average price is $55.67. Tractor Supply has a 52 week low of $48.30 and a 52 week high of $61.53. The company has a market capitalization of $28.77 billion, a P/E ratio of 26.41, a P/E/G ratio of 2.95 and a beta of 0.85. 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 issued its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates of $2.28 by ($1.84). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. On average, analysts forecast that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply declared that its board has authorized a share buyback program on Thursday, February 13th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the specialty retailer to purchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is undervalued.

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were issued a $0.92 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 annualized dividend and a dividend yield of 6.83%. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's dividend payout ratio is currently 45.10%.

Insider Activity

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $57.69, for a total transaction of $222,106.50. Following the completion of the sale, the senior vice president now directly owns 31,787 shares of the company's stock, valued at approximately $1,833,792.03. This represents a 10.80 % 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, CFO Kurt D. Barton sold 12,146 shares of the business's stock in a transaction that occurred 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 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 90 days, insiders sold 137,993 shares of company stock worth $7,538,068. Insiders own 0.58% of the company's stock.

Analysts Set New Price Targets

TSCO has been the subject of several recent research reports. Telsey Advisory Group reissued an "outperform" rating and set a $67.00 price target on shares of Tractor Supply in a research report on Thursday, January 30th. Bank of America boosted their target price on shares of Tractor Supply from $44.00 to $53.00 and gave the company an "underperform" rating in a research note on Thursday, January 16th. Guggenheim reaffirmed a "buy" rating and set a $60.00 price target on shares of Tractor Supply in a research note on Friday, January 31st. Barclays reduced their price objective 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. Finally, Loop Capital increased their price target on Tractor Supply from $53.00 to $58.00 and gave the stock a "hold" rating in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $59.22.

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.