Stevens Capital Management LP Buys New Position in Tractor Supply (NASDAQ:TSCO)

Stevens Capital Management LP purchased a new position in Tractor Supply (NASDAQ:TSCO) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 5,295 shares of the specialty retailer’s stock, valued at approximately $281,000.

A number of other large investors also recently modified their holdings of the business. BOK Financial Private Wealth Inc. raised 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 purchasing an additional 16,391 shares during the last quarter. Blueshift Asset Management LLC increased its holdings in shares of Tractor Supply by 32.7% during the 3rd quarter. Blueshift Asset Management LLC now owns 9,945 shares of the specialty retailer’s stock worth $2,893,000 after purchasing an additional 2,452 shares during the period. Callan Family Office LLC acquired a new position in shares of Tractor Supply during the fourth quarter valued at about $503,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Tractor Supply by 379.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 890,898 shares of the specialty retailer’s stock valued at $47,271,000 after buying an additional 704,896 shares during the period. Finally, Citizens Financial Group Inc. RI grew its position in Tractor Supply by 368.7% during the fourth quarter. Citizens Financial Group Inc. RI now owns 7,485 shares of the specialty retailer’s stock worth $397,000 after buying an additional 5,888 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. JPMorgan Chase & Co. upped their price target on Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Guggenheim reaffirmed a “buy” rating and issued a $60.00 target price on shares of Tractor Supply in a research report on Friday, January 31st. Bank of America boosted their price target on shares of Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a report on Thursday, January 16th. Loop Capital raised their price objective on shares of Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a report on Thursday, December 12th. Finally, Wells Fargo & Company lowered their target price 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. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.22.

Tractor Supply Price Performance

TSCO opened at $53.53 on Tuesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. The stock has a market capitalization of $28.59 billion, a P/E ratio of 26.24, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. The company’s 50 day simple moving average is $55.01 and its 200-day simple moving average is $55.68. Tractor Supply has a one year low of $48.30 and a one year high of $61.53.

Tractor Supply (NASDAQ:TSCO) last announced 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 anticipate that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

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

Tractor Supply announced that its Board of Directors has approved a share repurchase plan on Thursday, February 13th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the specialty retailer to purchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, EVP Colin Yankee sold 24,602 shares of the stock in a transaction 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 transaction, the executive vice president now owns 33,645 shares of the company’s stock, valued at $1,821,876.75. This represents a 42.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Melissa Kersey sold 9,300 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $53.17, for a total value of $494,481.00. Following the completion of the transaction, the executive vice president now owns 34,961 shares in the company, valued at $1,858,876.37. This represents a 21.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 137,993 shares of company stock valued at $7,538,068. 0.24% of the stock is currently owned by insiders.

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.