Tractor Supply (NASDAQ:TSCO) Shares Bought by Edgestream Partners L.P.

Edgestream Partners L.P. grew its holdings in Tractor Supply (NASDAQ:TSCO) by 2,649.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 102,233 shares of the specialty retailer’s stock after buying an additional 98,515 shares during the quarter. Edgestream Partners L.P.’s holdings in Tractor Supply were worth $5,424,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TSCO. Jackson Creek Investment Advisors LLC grew its stake in Tractor Supply by 385.8% during the 4th quarter. Jackson Creek Investment Advisors LLC now owns 9,205 shares of the specialty retailer’s stock valued at $488,000 after acquiring an additional 7,310 shares in the last quarter. Ashton Thomas Private Wealth LLC boosted its holdings in shares of Tractor Supply by 506.8% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 66,131 shares of the specialty retailer’s stock worth $3,509,000 after purchasing an additional 55,232 shares during the last quarter. Callan Family Office LLC purchased a new stake in shares of Tractor Supply in the fourth quarter valued at approximately $503,000. Welch & Forbes LLC increased its holdings in shares of Tractor Supply by 391.4% in the fourth quarter. Welch & Forbes LLC now owns 484,922 shares of the specialty retailer’s stock valued at $25,730,000 after purchasing an additional 386,233 shares during the last quarter. Finally, Candriam S.C.A. lifted its position in Tractor Supply by 508.1% during the fourth quarter. Candriam S.C.A. now owns 152,673 shares of the specialty retailer’s stock worth $8,101,000 after buying an additional 127,568 shares in the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Bank of America upped their target price on Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a report on Thursday, January 16th. Barclays dropped their price objective on shares of Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a report on Monday, December 30th. Evercore ISI raised shares of Tractor Supply from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 15th. Guggenheim reissued a “buy” rating and issued a $60.00 price target on shares of Tractor Supply in a research note on Friday, January 31st. Finally, Telsey Advisory Group restated an “outperform” rating and set a $67.00 price target on shares of Tractor Supply in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Tractor Supply presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.22.

Insider Transactions at Tractor Supply

In other news, SVP Matthew L. Rubin sold 3,850 shares of the firm’s stock in a transaction 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 sale, the senior vice president now directly owns 31,787 shares in the company, valued at approximately $1,833,792.03. This trade represents a 10.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Harry A. Lawton III sold 88,095 shares of the business’s stock in a transaction 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 approximately $26,686,430.68. The trade was a 15.27 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 137,993 shares of company stock valued at $7,538,068. 0.24% of the stock is currently owned by corporate insiders.

Tractor Supply Price Performance

Shares of TSCO opened at $56.89 on Friday. The company has a market cap of $30.38 billion, a P/E ratio of 27.89, a PEG ratio of 2.95 and a beta of 0.85. Tractor Supply has a fifty-two week low of $48.30 and a fifty-two week high of $61.53. 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 firm’s 50 day moving average price is $55.06 and its 200 day moving average price is $55.70.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate 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, research analysts forecast that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th will be paid a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 6.47%. The ex-dividend date is Wednesday, February 26th. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio (DPR) is presently 45.10%.

Tractor Supply announced that its Board of Directors has initiated a share buyback program on Thursday, February 13th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the specialty retailer to purchase up to 3.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors 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.