SPC Financial Inc. Grows Stake in Tractor Supply (NASDAQ:TSCO)

SPC Financial Inc. raised its stake in Tractor Supply (NASDAQ:TSCO) by 406.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,805 shares of the specialty retailer’s stock after purchasing an additional 25,526 shares during the quarter. SPC Financial Inc.’s holdings in Tractor Supply were worth $1,688,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in TSCO. Van ECK Associates Corp raised its position in Tractor Supply by 8.4% in the third quarter. Van ECK Associates Corp now owns 38,115 shares of the specialty retailer’s stock valued at $11,133,000 after purchasing an additional 2,958 shares during the period. National Pension Service raised its position in Tractor Supply by 1.6% in the third quarter. National Pension Service now owns 157,441 shares of the specialty retailer’s stock valued at $45,804,000 after purchasing an additional 2,510 shares during the period. Asset Management One Co. Ltd. raised its position in Tractor Supply by 3.4% in the third quarter. Asset Management One Co. Ltd. now owns 40,800 shares of the specialty retailer’s stock valued at $11,870,000 after purchasing an additional 1,330 shares during the period. Moloney Securities Asset Management LLC increased its position in shares of Tractor Supply by 482.1% during the third quarter. Moloney Securities Asset Management LLC now owns 4,500 shares of the specialty retailer’s stock worth $1,309,000 after acquiring an additional 3,727 shares during the last quarter. Finally, Amalgamated Bank increased its position in shares of Tractor Supply by 6.7% during the third quarter. Amalgamated Bank now owns 24,866 shares of the specialty retailer’s stock worth $7,234,000 after acquiring an additional 1,567 shares during the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

Tractor Supply Stock Performance

Shares of TSCO stock opened at $54.59 on Friday. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. The business has a 50 day moving average of $55.08 and a two-hundred day moving average of $55.71. Tractor Supply has a 52 week low of $48.30 and a 52 week high of $61.53. The company has a market cap of $29.15 billion, a P/E ratio of 26.76, a PEG ratio of 2.95 and a beta of 0.85.

Tractor Supply (NASDAQ:TSCO) last issued its earnings results 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%. As a group, analysts anticipate that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th will be paid a $0.92 dividend. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 dividend on an annualized basis and a yield of 6.74%. The ex-dividend date is Wednesday, February 26th. Tractor Supply’s payout ratio is presently 45.10%.

Tractor Supply declared that its Board of Directors has initiated a stock buyback program on Thursday, February 13th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the specialty retailer to repurchase up to 3.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TSCO. Telsey Advisory Group reaffirmed an “outperform” rating and set a $67.00 target price on shares of Tractor Supply in a research report on Thursday, January 30th. Bank of America lifted their target price on Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a research report on Thursday, January 16th. Guggenheim reaffirmed a “buy” rating and set a $60.00 target price on shares of Tractor Supply in a research report on Friday, January 31st. Mizuho lifted their target price on Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. lifted their target price on Tractor Supply from $58.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $59.22.

Insider Buying and Selling at Tractor Supply

In other news, SVP Matthew L. Rubin sold 3,850 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $57.69, for a total transaction of $222,106.50. Following the completion of the transaction, the senior vice president now directly owns 31,787 shares in the company, valued at approximately $1,833,792.03. The trade was a 10.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Melissa Kersey sold 9,300 shares of the business’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 value of $494,481.00. Following the transaction, the executive vice president now owns 34,961 shares of the company’s stock, 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 a total of 137,993 shares of company stock worth $7,538,068 over the last ninety days. Company 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.