Twinbeech Capital LP Grows Position in Tractor Supply (NASDAQ:TSCO)

Twinbeech Capital LP raised its stake in Tractor Supply (NASDAQ:TSCO - Free Report) by 1,335.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,610 shares of the specialty retailer's stock after buying an additional 27,547 shares during the quarter. Twinbeech Capital LP's holdings in Tractor Supply were worth $1,571,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew 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 buying an additional 51,031,178 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Tractor Supply by 401.8% in the 4th 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 last quarter. Alliancebernstein L.P. lifted its stake in shares of Tractor Supply by 403.3% in the 4th 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. Capital World Investors lifted its stake in shares of Tractor Supply by 403.7% in the 4th quarter. Capital World Investors now owns 19,433,135 shares of the specialty retailer's stock valued at $1,031,122,000 after purchasing an additional 15,575,311 shares during the last quarter. Finally, Capital International Investors lifted its stake in shares of Tractor Supply by 334.7% in the 4th quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer's stock valued at $818,421,000 after purchasing an additional 11,880,010 shares during the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on TSCO. Wall Street Zen raised Tractor Supply from a "sell" rating to a "hold" rating in a research note on Saturday. Guggenheim dropped their target price on Tractor Supply from $60.00 to $55.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Stephens started coverage on Tractor Supply in a research report on Wednesday, April 9th. They issued an "equal weight" rating and a $56.00 target price for the company. JPMorgan Chase & Co. dropped their target price on Tractor Supply from $59.00 to $56.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Finally, Mizuho dropped their target price on Tractor Supply from $62.00 to $58.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Tractor Supply presently has a consensus rating of "Moderate Buy" and a consensus target price of $58.02.

Tractor Supply Stock Up 1.7%

Shares of NASDAQ TSCO traded up $0.83 during midday trading on Tuesday, hitting $50.53. 957,284 shares of the company's stock were exchanged, compared to its average volume of 5,411,011. 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 twelve month low of $46.85 and a twelve month high of $61.53. The company has a market cap of $26.79 billion, a PE ratio of 24.76, a P/E/G ratio of 2.95 and a beta of 0.82. The firm's fifty day simple moving average is $51.43 and its 200-day simple moving average is $53.86.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its earnings results on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. The business had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.55 billion. During the same period last year, the business posted $1.83 EPS. Tractor Supply's revenue was up 2.1% on a year-over-year basis. Research analysts predict that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Wednesday, May 28th. Tractor Supply's dividend payout ratio (DPR) is presently 45.77%.

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

Insider Transactions at Tractor Supply

In other news, SVP Matthew L. Rubin sold 2,810 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $51.76, for a total transaction of $145,445.60. Following the sale, the senior vice president now owns 29,722 shares of the company's stock, valued at approximately $1,538,410.72. This trade represents a 8.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.65% 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.