Trexquant Investment LP Takes $15.54 Million Position in Tractor Supply (NASDAQ:TSCO)

Trexquant Investment LP acquired a new position in shares of Tractor Supply (NASDAQ:TSCO) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 292,783 shares of the specialty retailer’s stock, valued at approximately $15,535,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TSCO. Cannon Advisors Inc. lifted its holdings in shares of Tractor Supply by 330.8% during the 4th quarter. Cannon Advisors Inc. now owns 10,870 shares of the specialty retailer’s stock valued at $577,000 after purchasing an additional 8,347 shares during the last quarter. OLD Mission Capital LLC purchased a new stake in Tractor Supply in the fourth quarter valued at about $4,068,000. Geode Capital Management LLC raised its stake in Tractor Supply by 403.2% in the fourth quarter. Geode Capital Management LLC now owns 14,519,937 shares of the specialty retailer’s stock valued at $768,838,000 after buying an additional 11,634,249 shares during the last quarter. StoneX Group Inc. acquired a new stake in Tractor Supply in the fourth quarter worth about $848,000. Finally, Nemes Rush Group LLC increased its holdings in shares of Tractor Supply by 528.9% during the fourth quarter. Nemes Rush Group LLC now owns 25,149 shares of the specialty retailer’s stock valued at $1,334,000 after acquiring an additional 21,150 shares in the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Price Performance

Shares of Tractor Supply stock opened at $55.13 on Wednesday. The firm has a market cap of $29.44 billion, a PE ratio of 27.02, a P/E/G ratio of 2.95 and a beta of 0.85. Tractor Supply has a twelve month low of $48.30 and a twelve month 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 business has a 50-day moving average price of $55.02 and a 200 day moving average price of $55.64.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 EPS 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%. Sell-side analysts predict 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 was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 6.68%. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. Tractor Supply’s dividend payout ratio (DPR) is presently 45.10%.

Tractor Supply announced that its Board of Directors has approved a share buyback plan on Thursday, February 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the specialty retailer to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

TSCO has been the subject of a number of recent analyst reports. Loop Capital lifted their target price on shares of Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a research note on Thursday, December 12th. Mizuho boosted their price objective on shares of Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Barclays reduced their target price on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a research note on Monday, December 30th. Guggenheim reiterated a “buy” rating and set a $60.00 price target on shares of Tractor Supply in a research note on Friday, January 31st. Finally, Truist Financial reduced their price objective on Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Tractor Supply presently has an average rating of “Moderate Buy” and a consensus price target of $59.22.

Insider Activity

In other news, EVP Colin Yankee sold 24,602 shares of Tractor Supply stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $54.15, for a total value of $1,332,198.30. Following the sale, the executive vice president now directly owns 33,645 shares of the company’s stock, valued at $1,821,876.75. The trade was a 42.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Harry A. Lawton III sold 88,095 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $54.59, for a total value of $4,809,106.05. Following the completion of the transaction, the chief executive officer now directly owns 488,852 shares of the company’s stock, valued at approximately $26,686,430.68. This represents a 15.27 % 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 90 days. 0.24% of the stock is currently owned by company insiders.

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.