Thoroughbred Financial Services LLC Increases Stake in Tractor Supply (NASDAQ:TSCO)

Thoroughbred Financial Services LLC grew its position in Tractor Supply (NASDAQ:TSCO - Free Report) by 394.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 86,223 shares of the specialty retailer's stock after purchasing an additional 68,775 shares during the period. Thoroughbred Financial Services LLC's holdings in Tractor Supply were worth $4,575,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in shares of Tractor Supply by 1,215.2% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,210 shares of the specialty retailer's stock valued at $64,000 after buying an additional 1,118 shares during the period. Orleans Capital Management Corp LA lifted its holdings in shares of Tractor Supply by 366.0% in the fourth quarter. Orleans Capital Management Corp LA now owns 42,850 shares of the specialty retailer's stock valued at $2,355,000 after purchasing an additional 33,655 shares in the last quarter. Motley Fool Asset Management LLC boosted its position in shares of Tractor Supply by 450.8% during the fourth quarter. Motley Fool Asset Management LLC now owns 87,336 shares of the specialty retailer's stock worth $4,634,000 after buying an additional 71,481 shares during the period. Cynosure Group LLC raised its position in Tractor Supply by 322.5% in the 4th quarter. Cynosure Group LLC now owns 6,460 shares of the specialty retailer's stock valued at $343,000 after buying an additional 4,931 shares during the last quarter. Finally, Huntington National Bank lifted its stake in Tractor Supply by 415.1% in the 4th quarter. Huntington National Bank now owns 28,525 shares of the specialty retailer's stock valued at $1,514,000 after acquiring an additional 22,987 shares in the last quarter. 98.72% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

A number of brokerages have recently commented on TSCO. Stephens initiated coverage on shares of Tractor Supply in a research report on Wednesday. They issued an "equal weight" rating and a $56.00 price objective on the stock. Loop Capital lifted their target price on Tractor Supply from $53.00 to $58.00 and gave the company a "hold" rating in a research report on Thursday, December 12th. JPMorgan Chase & Co. boosted their price target on 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 reissued an "outperform" rating and issued a $67.00 target price on shares of Tractor Supply in a research note on Thursday, January 30th. Finally, Barclays dropped their price target on shares of Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating on the stock in a research report on Monday, December 30th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has assigned 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 $59.07.

Tractor Supply Stock Down 0.4 %

Tractor Supply stock traded down $0.19 during trading on Wednesday, hitting $47.83. 1,293,306 shares of the company were exchanged, compared to its average volume of 5,098,953. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. The business's 50 day moving average is $54.30 and its 200 day moving average is $55.48. Tractor Supply has a 52 week low of $47.06 and a 52 week high of $61.53. The company has a market capitalization of $25.43 billion, a P/E ratio of 23.33, a PEG ratio of 2.95 and a beta of 0.88.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its 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%. Analysts predict that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were given a $0.92 dividend. This is a positive change from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 annualized dividend and a yield of 7.69%. Tractor Supply's payout ratio is currently 45.10%.

Tractor Supply announced that its board has authorized a stock repurchase plan on Thursday, February 13th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the specialty retailer to reacquire up to 3.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Tractor Supply

In other news, SVP Matthew L. Rubin sold 3,850 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $57.69, for a total transaction of $222,106.50. Following the completion of the transaction, the senior vice president now owns 31,787 shares in the company, valued at approximately $1,833,792.03. This represents a 10.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Melissa Kersey sold 9,300 shares of the business's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $53.17, for a total value of $494,481.00. Following the completion of the sale, the executive vice president now owns 34,961 shares in the company, valued at $1,858,876.37. This represents a 21.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 137,993 shares of company stock worth $7,538,068 over the last three months. 0.24% of the stock is currently owned by insiders.

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.