AXQ Capital LP Takes $663,000 Position in Tractor Supply (NASDAQ:TSCO)

AXQ Capital LP purchased a new position in shares of Tractor Supply (NASDAQ:TSCO) during the fourth quarter, HoldingsChannel reports. The fund purchased 12,489 shares of the specialty retailer’s stock, valued at approximately $663,000.

Several other institutional investors and hedge funds also recently made changes to their positions in TSCO. Smithfield Trust Co lifted its holdings in Tractor Supply by 286.2% during the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer’s stock worth $25,000 after acquiring an additional 352 shares in the last quarter. PrairieView Partners LLC lifted its holdings in shares of Tractor Supply by 400.0% during the 4th quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 400 shares in the last quarter. Future Financial Wealth Managment LLC grew its position in shares of Tractor Supply by 400.0% in the 4th quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 400 shares during the period. Archer Investment Corp increased its stake in Tractor Supply by 400.0% during the 4th quarter. Archer Investment Corp now owns 500 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 400 shares in the last quarter. Finally, Kentucky Trust Co acquired a new stake in Tractor Supply during the 4th quarter worth approximately $27,000. Institutional investors and hedge funds own 98.72% of the company’s stock.

Insider Transactions at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $57.69, for a total value of $222,106.50. Following the transaction, the senior vice president now directly owns 31,787 shares of the company’s stock, valued at $1,833,792.03. This represents a 10.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Melissa Kersey sold 9,300 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $53.17, for a total transaction of $494,481.00. Following the sale, the executive vice president now owns 34,961 shares of the company’s stock, valued at $1,858,876.37. This trade represents a 21.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 137,993 shares of company stock worth $7,538,068. 0.24% of the stock is owned by insiders.

Tractor Supply Trading Up 1.2 %

Shares of NASDAQ:TSCO opened at $52.46 on Friday. The company has a 50-day simple moving average of $55.03 and a 200 day simple moving average of $55.68. The company has a market capitalization of $28.01 billion, a P/E ratio of 25.72, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. Tractor Supply has a 52-week low of $48.30 and a 52-week high of $61.53.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share (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 forecast that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply declared that its board has authorized a stock repurchase program on Thursday, February 13th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the specialty retailer to reacquire up to 3.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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 $0.92 dividend. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 annualized dividend and a dividend yield of 7.01%. The ex-dividend date was Wednesday, February 26th. Tractor Supply’s payout ratio is currently 45.10%.

Analyst Ratings Changes

Several research analysts have recently weighed in on TSCO shares. Loop Capital upped their price target on shares of Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a report on Thursday, December 12th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $67.00 target price on shares of Tractor Supply in a research note on Thursday, January 30th. Truist Financial dropped their price target on Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Barclays reduced their price objective on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a research report on Monday, December 30th. Finally, JPMorgan Chase & Co. lifted their target price on Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Two analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.