Cushing Capital Partners LLC Takes $697,000 Position in Tractor Supply (NASDAQ:TSCO)

Cushing Capital Partners LLC purchased a new stake in Tractor Supply (NASDAQ:TSCO) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 13,143 shares of the specialty retailer’s stock, valued at approximately $697,000.

Other hedge funds also recently made changes to their positions in the company. BOK Financial Private Wealth Inc. boosted its stake in shares of Tractor Supply by 330.2% in 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 in the last quarter. Blueshift Asset Management LLC boosted its position in 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 buying an additional 2,452 shares during the period. Mutual of America Capital Management LLC boosted its position in Tractor Supply by 16.5% during the 3rd quarter. Mutual of America Capital Management LLC now owns 27,336 shares of the specialty retailer’s stock worth $7,953,000 after buying an additional 3,863 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Tractor Supply by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 631,406 shares of the specialty retailer’s stock worth $183,695,000 after buying an additional 8,142 shares during the period. Finally, Metis Global Partners LLC boosted its position in Tractor Supply by 495.1% during the 4th quarter. Metis Global Partners LLC now owns 30,485 shares of the specialty retailer’s stock worth $1,618,000 after buying an additional 25,362 shares during the period. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Tractor Supply Stock Performance

NASDAQ:TSCO opened at $57.21 on Tuesday. The company has a fifty day moving average of $55.20 and a 200-day moving average of $55.79. The firm has a market capitalization of $30.55 billion, a P/E ratio of 28.04, a P/E/G ratio of 2.95 and a beta of 0.85. 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 twelve month low of $48.30 and a twelve month high of $61.53.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data 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, sell-side analysts anticipate that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th will be paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 6.43%. The ex-dividend date of this dividend is Wednesday, February 26th. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s payout ratio is 45.10%.

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on TSCO shares. Telsey Advisory Group reiterated an “outperform” rating and set a $67.00 target price on shares of Tractor Supply in a research report on Thursday, January 30th. Truist Financial cut their target price on shares of Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Wells Fargo & Company cut 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 report on Monday, November 25th. JPMorgan Chase & Co. lifted their target price on shares of Tractor Supply from $58.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Finally, Loop Capital lifted their target price on shares of Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a research report on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Tractor Supply has a consensus rating of “Moderate Buy” and a consensus price target of $59.22.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, EVP Colin Yankee sold 24,602 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $54.15, for a total transaction of $1,332,198.30. Following the completion of the sale, the executive vice president now owns 33,645 shares in the company, valued at approximately $1,821,876.75. The trade was a 42.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Matthew L. Rubin sold 3,850 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total transaction of $222,106.50. Following the sale, the senior vice president now owns 31,787 shares of the company’s stock, valued at $1,833,792.03. This trade represents a 10.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 137,993 shares of company stock worth $7,538,068. 0.24% of the stock is owned by corporate 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.