Voloridge Investment Management LLC Acquires 99,757 Shares of Tractor Supply (NASDAQ:TSCO)

Voloridge Investment Management LLC raised its position in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 249.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 139,766 shares of the specialty retailer's stock after acquiring an additional 99,757 shares during the quarter. Voloridge Investment Management LLC's holdings in Tractor Supply were worth $7,416,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Waverly Advisors LLC grew its position in Tractor Supply by 778.6% in the fourth quarter. Waverly Advisors LLC now owns 23,907 shares of the specialty retailer's stock worth $1,269,000 after acquiring an additional 21,186 shares during the period. Worldquant Millennium Advisors LLC acquired a new position in Tractor Supply during the 4th quarter worth approximately $5,542,000. Woodline Partners LP acquired a new position in shares of Tractor Supply during the 4th quarter worth approximately $1,702,000. Vident Advisory LLC raised its holdings in shares of Tractor Supply by 438.6% in the fourth quarter. Vident Advisory LLC now owns 23,040 shares of the specialty retailer's stock worth $1,223,000 after acquiring an additional 18,762 shares during the last quarter. Finally, Wedgewood Partners Inc. raised its holdings in shares of Tractor Supply by 379.8% in the fourth quarter. Wedgewood Partners Inc. now owns 479,596 shares of the specialty retailer's stock worth $25,447,000 after acquiring an additional 379,639 shares during the last quarter. Institutional investors and hedge funds own 98.72% of the company's stock.

Analyst Ratings Changes

TSCO has been the subject of a number of recent analyst reports. Guggenheim lowered their price objective 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. Robert W. Baird decreased their target price on Tractor Supply from $63.00 to $56.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Telsey Advisory Group set a $60.00 target price on Tractor Supply in a report on Friday, April 25th. Citigroup lowered their price target on Tractor Supply from $59.00 to $51.00 and set a "neutral" rating on the stock in a research note on Friday, April 25th. Finally, UBS Group set a $54.00 price objective on shares of Tractor Supply in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Tractor Supply presently has an average rating of "Moderate Buy" and a consensus target price of $58.02.

Insider Buying and Selling at Tractor Supply

In related news, SVP Matthew L. Rubin sold 2,810 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $51.76, for a total transaction of $145,445.60. Following the completion of the transaction, the senior vice president now owns 29,722 shares in the company, valued at $1,538,410.72. The trade was a 8.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.65% of the stock is owned by insiders.

Tractor Supply Stock Down 0.8%

Shares of TSCO stock traded down $0.37 during trading hours on Friday, reaching $48.60. 1,334,803 shares of the stock were exchanged, compared to its average volume of 5,142,878. 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 12-month low of $46.85 and a 12-month high of $61.53. The business's fifty day moving average is $51.24 and its two-hundred day moving average is $53.75. The firm has a market capitalization of $25.77 billion, a P/E ratio of 23.85, a P/E/G ratio of 2.95 and a beta of 0.82.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.03). The business had revenue of $3.47 billion during the quarter, compared to analysts' expectations of $3.55 billion. Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. The company's revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.83 EPS. As a group, research analysts expect that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th will be paid a dividend of $0.23 per share. The ex-dividend date is Wednesday, May 28th. This represents a $0.92 dividend on an annualized basis and a yield of 1.89%. Tractor Supply's dividend payout ratio (DPR) is presently 45.77%.

Tractor Supply declared that its board has authorized a stock repurchase plan on Thursday, February 13th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to purchase up to 3.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

About Tractor Supply

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.