GAMMA Investing LLC Buys New Shares in Tractor Supply (NASDAQ:TSCO)

GAMMA Investing LLC purchased a new position in Tractor Supply (NASDAQ:TSCO) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 813 shares of the specialty retailer’s stock, valued at approximately $183,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Linden Thomas Advisory Services LLC raised its position in Tractor Supply by 1.2% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 13,487 shares of the specialty retailer’s stock worth $2,900,000 after purchasing an additional 163 shares in the last quarter. Community Bank & Trust Waco Texas acquired a new position in Tractor Supply in the fourth quarter worth about $333,000. Marks Group Wealth Management Inc raised its position in Tractor Supply by 1.2% in the fourth quarter. Marks Group Wealth Management Inc now owns 30,771 shares of the specialty retailer’s stock worth $6,617,000 after purchasing an additional 351 shares in the last quarter. New York State Common Retirement Fund raised its position in Tractor Supply by 14.7% in the fourth quarter. New York State Common Retirement Fund now owns 117,978 shares of the specialty retailer’s stock worth $25,369,000 after purchasing an additional 15,084 shares in the last quarter. Finally, Significant Wealth Partners LLC acquired a new position in Tractor Supply in the fourth quarter worth about $695,000. Institutional investors and hedge funds own 98.72% of the company’s stock.

Analyst Upgrades and Downgrades

TSCO has been the subject of several recent research reports. Wedbush reissued a “neutral” rating and issued a $235.00 price target on shares of Tractor Supply in a research report on Tuesday. Raymond James raised their price objective on shares of Tractor Supply from $250.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday. Truist Financial raised their price objective on shares of Tractor Supply from $277.00 to $289.00 and gave the stock a “buy” rating in a report on Friday. TD Cowen raised their price objective on shares of Tractor Supply from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Friday. Finally, Wells Fargo & Company raised their price objective on shares of Tractor Supply from $250.00 to $285.00 and gave the stock an “overweight” rating in a report on Monday, March 25th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Tractor Supply has an average rating of “Hold” and an average price target of $248.17.

Insider Transactions at Tractor Supply

In other news, EVP Jonathan S. Estep sold 7,120 shares of Tractor Supply stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $232.26, for a total transaction of $1,653,691.20. Following the transaction, the executive vice president now directly owns 13,605 shares of the company’s stock, valued at $3,159,897.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Jonathan S. Estep sold 7,120 shares of Tractor Supply stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $232.26, for a total transaction of $1,653,691.20. Following the transaction, the executive vice president now directly owns 13,605 shares of the company’s stock, valued at $3,159,897.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Robert D. Mills sold 48,334 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $232.23, for a total transaction of $11,224,604.82. Following the completion of the sale, the executive vice president now directly owns 22,167 shares in the company, valued at $5,147,842.41. The disclosure for this sale can be found here. Insiders have sold a total of 90,090 shares of company stock valued at $21,201,877 over the last three months. 0.24% of the stock is currently owned by corporate insiders.

Tractor Supply Price Performance

Shares of TSCO stock opened at $273.90 on Friday. Tractor Supply has a 52-week low of $185.00 and a 52-week high of $274.66. The stock has a market cap of $29.56 billion, a PE ratio of 26.67, a PEG ratio of 3.97 and a beta of 0.84. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.28 and a current ratio of 1.40. The firm’s 50 day moving average price is $252.44 and its two-hundred day moving average price is $226.59.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings data on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.13. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The firm had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same period last year, the firm earned $1.65 earnings per share. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, analysts forecast that Tractor Supply will post 10.23 EPS for the current year.

Tractor Supply Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.61%. This is a boost from Tractor Supply’s previous quarterly dividend of $1.03. The ex-dividend date was Friday, February 23rd. Tractor Supply’s dividend payout ratio (DPR) is currently 42.84%.

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.