OLD Mission Capital LLC Invests $4.07 Million in Tractor Supply (NASDAQ:TSCO)

OLD Mission Capital LLC acquired a new stake in shares of Tractor Supply (NASDAQ:TSCO) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 76,672 shares of the specialty retailer’s stock, valued at approximately $4,068,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Tractor Supply by 392.5% in the 4th quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer’s stock valued at $3,397,643,000 after acquiring an additional 51,031,178 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Tractor Supply by 401.8% in the fourth quarter. Wellington Management Group LLP now owns 23,789,249 shares of the specialty retailer’s stock valued at $1,262,258,000 after purchasing an additional 19,048,385 shares during the period. Alliancebernstein L.P. increased its stake in Tractor Supply by 403.3% in the fourth quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer’s stock valued at $1,180,932,000 after purchasing an additional 17,834,643 shares during the last quarter. Geode Capital Management LLC lifted its position in Tractor Supply by 403.2% during the fourth quarter. Geode Capital Management LLC now owns 14,519,937 shares of the specialty retailer’s stock worth $768,838,000 after buying an additional 11,634,249 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Tractor Supply by 391.0% in the 4th quarter. JPMorgan Chase & Co. now owns 10,821,654 shares of the specialty retailer’s stock worth $574,197,000 after buying an additional 8,617,869 shares during the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Price Performance

Shares of NASDAQ TSCO opened at $55.13 on Wednesday. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. Tractor Supply has a fifty-two week low of $48.30 and a fifty-two week high of $61.53. The business has a 50 day moving average price of $55.02 and a two-hundred day moving average price of $55.64. The firm has a market cap of $29.44 billion, a PE ratio of 27.02, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results 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 return on equity of 49.01% and a net margin of 7.40%. Sell-side analysts expect that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were given a dividend of $0.92 per share. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $3.68 annualized dividend and a dividend yield of 6.68%. Tractor Supply’s dividend payout ratio (DPR) is presently 45.10%.

Tractor Supply declared that its board has approved a stock buyback plan on Thursday, February 13th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the specialty retailer to purchase up to 3.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts have recently commented on TSCO shares. JPMorgan Chase & Co. upped their price objective on shares of Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Bank of America increased their price target on shares of Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a research note on Thursday, January 16th. Guggenheim reissued a “buy” rating and set a $60.00 price objective on shares of Tractor Supply in a research note on Friday, January 31st. Barclays cut their target price on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Monday, December 30th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $67.00 price target on shares of Tractor Supply in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tractor Supply presently has an average rating of “Moderate Buy” and a consensus price target of $59.22.

Insider Buying and Selling

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total value of $222,106.50. Following the completion of the transaction, the senior vice president now owns 31,787 shares of the company’s stock, valued at $1,833,792.03. The trade was a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Kurt D. Barton sold 12,146 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $56.00, for a total transaction of $680,176.00. Following the sale, the chief financial officer now directly owns 47,715 shares in the company, valued at $2,672,040. This trade represents a 20.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 137,993 shares of company stock worth $7,538,068. Corporate insiders own 0.24% of the company’s stock.

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.