StoneX Group Inc. Purchases Shares of 15,982 Tractor Supply (NASDAQ:TSCO)

StoneX Group Inc. purchased a new position in Tractor Supply (NASDAQ:TSCO) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,982 shares of the specialty retailer’s stock, valued at approximately $848,000.

A number of other hedge funds have also recently made changes to their positions in the business. BOK Financial Private Wealth Inc. lifted its position in shares of 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 last quarter. CIBC Private Wealth Group LLC grew its position in Tractor Supply by 385.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,089,542 shares of the specialty retailer’s stock valued at $59,260,000 after acquiring an additional 865,273 shares during the last quarter. Blueshift Asset Management LLC raised its position in Tractor Supply by 571.8% in the 4th quarter. Blueshift Asset Management LLC now owns 66,815 shares of the specialty retailer’s stock worth $3,545,000 after purchasing an additional 56,870 shares during the period. Callan Family Office LLC purchased a new position in shares of Tractor Supply in the fourth quarter worth about $503,000. Finally, 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 valued at $47,271,000 after purchasing an additional 704,896 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on TSCO. Barclays cut their price target on shares of Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating on the stock in a report on Monday, December 30th. Telsey Advisory Group reiterated an “outperform” rating and set a $67.00 target price on shares of Tractor Supply in a report on Thursday, January 30th. Truist Financial lowered their price objective on Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Loop Capital boosted their price target on Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a research report on Thursday, December 12th. Finally, JPMorgan Chase & Co. increased their price objective on shares of 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 given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $59.22.

Insider Buying and Selling at Tractor Supply

In related news, CEO Harry A. Lawton III sold 88,095 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $54.59, for a total transaction of $4,809,106.05. Following the transaction, the chief executive officer now owns 488,852 shares in the company, valued at $26,686,430.68. This trade represents a 15.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Melissa Kersey sold 9,300 shares of Tractor Supply stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $53.17, for a total transaction of $494,481.00. Following the completion of the transaction, the executive vice president now owns 34,961 shares in the company, valued at approximately $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. Insiders sold 137,993 shares of company stock valued at $7,538,068 in the last 90 days. Company insiders own 0.24% of the company’s stock.

Tractor Supply Price Performance

Shares of NASDAQ TSCO opened at $55.62 on Thursday. Tractor Supply has a one year low of $48.30 and a one year high of $61.53. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. The firm has a fifty day moving average of $54.98 and a 200 day moving average of $55.64. The firm has a market cap of $29.70 billion, a PE ratio of 27.26, 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 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%. As a group, research analysts predict that Tractor Supply will post 2.17 EPS for the current fiscal year.

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 given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 6.62%. The ex-dividend date of this dividend was Wednesday, February 26th. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio is currently 45.10%.

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

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.