Quantbot Technologies LP Buys 44,897 Shares of Tractor Supply (NASDAQ:TSCO)

Quantbot Technologies LP raised its holdings in Tractor Supply (NASDAQ:TSCO) by 541.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,188 shares of the specialty retailer’s stock after buying an additional 44,897 shares during the period. Quantbot Technologies LP’s holdings in Tractor Supply were worth $2,822,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Providence Capital Advisors LLC bought a new stake in Tractor Supply in the third quarter valued at approximately $32,000. Larson Financial Group LLC raised its stake in Tractor Supply by 29.4% in the third quarter. Larson Financial Group LLC now owns 286 shares of the specialty retailer’s stock valued at $83,000 after buying an additional 65 shares during the period. First Horizon Advisors Inc. raised its stake in Tractor Supply by 13.2% in the third quarter. First Horizon Advisors Inc. now owns 351 shares of the specialty retailer’s stock valued at $102,000 after buying an additional 41 shares during the period. Icon Wealth Advisors LLC bought a new stake in Tractor Supply in the third quarter valued at approximately $111,000. Finally, Glen Eagle Advisors LLC raised its stake in Tractor Supply by 75.8% in the third quarter. Glen Eagle Advisors LLC now owns 464 shares of the specialty retailer’s stock valued at $135,000 after buying an additional 200 shares during the period. Institutional investors own 98.72% of the company’s stock.

Wall Street Analyst Weigh In

TSCO has been the topic of several research analyst reports. Loop Capital upped their price objective on Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, December 12th. Truist Financial decreased their target price on Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Barclays decreased 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. JPMorgan Chase & Co. upped 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. Finally, Mizuho upped their target price on Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $59.22.

Tractor Supply Stock Up 1.2 %

NASDAQ TSCO opened at $52.46 on Friday. The business has a fifty day moving average price of $55.03 and a two-hundred day moving average price of $55.68. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. Tractor Supply has a fifty-two week low of $48.30 and a fifty-two week high of $61.53. The stock has a market capitalization of $28.01 billion, a PE ratio of 25.72, a PEG ratio of 2.95 and a beta of 0.85.

Tractor Supply (NASDAQ:TSCO) last released its 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 return on equity of 49.01% and a net margin of 7.40%. Equities analysts expect 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. Shareholders of record on Wednesday, February 26th were paid a dividend of $0.92 per share. 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. This represents a $3.68 annualized dividend and a yield of 7.01%. Tractor Supply’s dividend payout ratio is presently 45.10%.

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

Insiders Place Their Bets

In other news, CEO Harry A. Lawton III sold 88,095 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 488,852 shares in the company, valued at approximately $26,686,430.68. This represents a 15.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Matthew L. Rubin sold 3,850 shares of the 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 disclosure for this sale can be found here. Insiders sold 137,993 shares of company stock worth $7,538,068 over the last three months. Insiders own 0.24% of the company’s stock.

Tractor Supply Company 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.