Tractor Supply (NASDAQ:TSCO) Stake Boosted by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in Tractor Supply (NASDAQ:TSCO - Free Report) by 323.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 55,205 shares of the specialty retailer's stock after purchasing an additional 42,163 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in Tractor Supply were worth $2,929,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Baldwin Investment Management LLC increased its holdings in shares of Tractor Supply by 0.3% in 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 during the last quarter. Cynosure Group LLC boosted its holdings in Tractor Supply by 2.8% in 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 during the period. Larson Financial Group LLC increased its stake in 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 purchasing an additional 65 shares during the last quarter. Pine Valley Investments Ltd Liability Co raised its holdings in shares of Tractor Supply by 7.1% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 978 shares of the specialty retailer's stock worth $285,000 after purchasing an additional 65 shares during the period. Finally, Providence Capital Advisors LLC bought a new position in shares of Tractor Supply in the 3rd quarter worth about $32,000. 98.72% of the stock is currently owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In other Tractor Supply news, CEO Harry A. Lawton III sold 88,095 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $54.59, for a total transaction of $4,809,106.05. Following the sale, the chief executive officer now directly owns 488,852 shares of the company's stock, valued at $26,686,430.68. The trade was a 15.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Melissa Kersey sold 9,300 shares of the stock in a transaction on 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 of the company's stock, valued at $1,858,876.37. The trade was a 21.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 137,993 shares of company stock worth $7,538,068. Company insiders own 0.24% of the company's stock.

Wall Street Analysts Forecast Growth

TSCO has been the topic of a number of recent research reports. Mizuho raised their target price on shares of Tractor Supply from $60.00 to $62.00 and gave the stock an "outperform" rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. raised their price target on Tractor Supply from $58.00 to $59.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Guggenheim reaffirmed a "buy" rating and issued a $60.00 target price on shares of Tractor Supply in a research report on Friday, January 31st. Loop Capital increased their price objective on shares of Tractor Supply from $53.00 to $58.00 and gave the stock a "hold" rating in a report on Thursday, December 12th. Finally, 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. 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. Based on data from MarketBeat, Tractor Supply currently has an average rating of "Moderate Buy" and a consensus price target of $59.22.

Tractor Supply Price Performance

NASDAQ:TSCO traded up $0.70 during trading hours on Monday, reaching $54.17. 2,693,306 shares of the company's stock were exchanged, compared to its average volume of 5,047,077. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $28.93 billion, a P/E ratio of 26.57, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. Tractor Supply has a 12 month low of $48.30 and a 12 month high of $61.53. The business's 50-day simple moving average is $55.03 and its two-hundred day simple moving average is $55.66.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its quarterly earnings data 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%. Sell-side analysts expect that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply announced that its board has approved a stock repurchase program on Thursday, February 13th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the specialty retailer to repurchase up to 3.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its stock is undervalued.

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were paid a $0.92 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a yield of 6.79%. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's dividend payout ratio (DPR) is currently 45.10%.

Tractor Supply Company 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.