Quantbot Technologies LP Increases Stock Position in Tractor Supply (NASDAQ:TSCO)

Quantbot Technologies LP grew its position in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 541.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,188 shares of the specialty retailer's stock after purchasing an additional 44,897 shares during the quarter. Quantbot Technologies LP's holdings in Tractor Supply were worth $2,822,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Baldwin Investment Management LLC raised its position in shares of Tractor Supply by 0.3% in the third quarter. Baldwin Investment Management LLC now owns 11,402 shares of the specialty retailer's stock worth $3,317,000 after acquiring an additional 38 shares during the period. First Horizon Advisors Inc. raised its holdings in Tractor Supply by 13.2% in the 3rd 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. Cynosure Group LLC boosted its position in Tractor Supply by 2.8% during the third 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 grew its holdings in Tractor Supply by 29.4% in the third quarter. Larson Financial Group LLC now owns 286 shares of the specialty retailer's stock valued at $83,000 after purchasing an additional 65 shares during the period. Finally, Pine Valley Investments Ltd Liability Co increased its position in shares of Tractor Supply by 7.1% in the third 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. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on TSCO shares. Telsey Advisory Group reissued an "outperform" rating and issued a $67.00 price target on shares of Tractor Supply in a research note on Thursday, January 30th. Truist Financial cut their target price on shares of Tractor Supply from $63.00 to $60.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Guggenheim restated a "buy" rating and set a $60.00 price target on shares of Tractor Supply in a research report on Friday, January 31st. Mizuho boosted their price objective on Tractor Supply from $60.00 to $62.00 and gave the stock an "outperform" rating in a research note on Thursday, January 23rd. Finally, Bank of America raised their target price on Tractor Supply from $44.00 to $53.00 and gave the company an "underperform" rating in a research report on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Tractor Supply presently has an average rating of "Moderate Buy" and an average price target of $59.22.

Insiders Place Their Bets

In related news, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 31,787 shares in the company, valued at $1,833,792.03. The trade was a 10.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Harry A. Lawton III sold 88,095 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $54.59, for a total transaction of $4,809,106.05. Following the transaction, the chief executive officer now owns 488,852 shares of the company's stock, valued at $26,686,430.68. This trade represents a 15.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 137,993 shares of company stock worth $7,538,068 over the last 90 days. Corporate insiders own 0.58% of the company's stock.

Tractor Supply Trading Up 0.5 %

Shares of NASDAQ:TSCO traded up $0.29 during mid-day trading on Thursday, reaching $54.16. 4,651,444 shares of the company were exchanged, compared to its average volume of 4,892,093. Tractor Supply has a 1 year low of $48.30 and a 1 year 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. The firm's 50-day simple moving average is $55.02 and its 200 day simple moving average is $55.66. The firm has a market cap of $28.92 billion, a price-to-earnings ratio of 26.55, a P/E/G ratio of 2.95 and a beta of 0.85.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its quarterly earnings results 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%. Equities research analysts forecast that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The firm 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. The ex-dividend date was Wednesday, February 26th. This is a positive change from Tractor Supply's previous quarterly dividend of $0.22. This represents a $3.68 dividend on an annualized basis and a yield of 6.79%. Tractor Supply's dividend payout ratio is 45.10%.

Tractor Supply announced that its Board of Directors has authorized a stock repurchase program on Thursday, February 13th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to reacquire up to 3.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its shares are 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.