Stevens Capital Management LP Makes New Investment in Tractor Supply (NASDAQ:TSCO)

Stevens Capital Management LP purchased a new stake in shares of Tractor Supply (NASDAQ:TSCO) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,295 shares of the specialty retailer’s stock, valued at approximately $281,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. BOK Financial Private Wealth Inc. increased its stake in Tractor Supply by 330.2% during the 4th quarter. BOK Financial Private Wealth Inc. now owns 21,355 shares of the specialty retailer’s stock valued at $1,133,000 after buying an additional 16,391 shares during the period. Blueshift Asset Management LLC increased its stake in shares of Tractor Supply by 32.7% during the third quarter. Blueshift Asset Management LLC now owns 9,945 shares of the specialty retailer’s stock valued at $2,893,000 after acquiring an additional 2,452 shares during the period. Callan Family Office LLC bought a new stake in Tractor Supply during the fourth quarter worth approximately $503,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Tractor Supply by 379.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 890,898 shares of the specialty retailer’s stock worth $47,271,000 after purchasing an additional 704,896 shares during the period. Finally, Citizens Financial Group Inc. RI boosted its stake in Tractor Supply by 368.7% during the 4th quarter. Citizens Financial Group Inc. RI now owns 7,485 shares of the specialty retailer’s stock valued at $397,000 after purchasing an additional 5,888 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors.

Insider Activity at Tractor Supply

In other Tractor Supply news, CEO Harry A. Lawton III sold 88,095 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $54.59, for a total value of $4,809,106.05. Following the completion of the sale, the chief executive officer now owns 488,852 shares of the company’s stock, valued at $26,686,430.68. The trade was a 15.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Colin Yankee sold 24,602 shares of the company’s stock in a transaction dated 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 owns 33,645 shares of the company’s stock, valued at approximately $1,821,876.75. This trade represents a 42.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 137,993 shares of company stock valued at $7,538,068. Insiders own 0.24% of the company’s stock.

Tractor Supply Price Performance

TSCO opened at $53.53 on Tuesday. The stock has a fifty day moving average price of $55.01 and a 200 day moving average price of $55.68. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. Tractor Supply has a 1 year low of $48.30 and a 1 year high of $61.53. The stock has a market cap of $28.59 billion, a price-to-earnings ratio of 26.24, a PEG ratio of 2.95 and a beta of 0.85.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results 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%. Analysts forecast that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply announced that its board has initiated a stock buyback program on Thursday, February 13th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the specialty retailer to repurchase up to 3.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were issued a dividend of $0.92 per share. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 6.87%. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio (DPR) is currently 45.10%.

Wall Street Analyst Weigh In

TSCO has been the topic of a number of research reports. Mizuho upped their price objective on Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Barclays cut their price target 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. Wells Fargo & Company lowered their price objective on shares of Tractor Supply from $65.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Guggenheim reissued a “buy” rating and set a $60.00 target price on shares of Tractor Supply in a research note on Friday, January 31st. Finally, Bank of America upped their price target on Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a report on Thursday, January 16th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Tractor Supply currently has an average rating of “Moderate Buy” and a consensus target price of $59.22.

About Tractor Supply

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.