32,081 Shares in Tractor Supply (NASDAQ:TSCO) Purchased by Woodline Partners LP

Woodline Partners LP purchased a new stake in Tractor Supply (NASDAQ:TSCO - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 32,081 shares of the specialty retailer's stock, valued at approximately $1,702,000.

A number of other institutional investors have also made changes to their positions in the company. Atomi Financial Group Inc. acquired a new position in Tractor Supply during the 4th quarter valued at approximately $203,000. SG Americas Securities LLC boosted its position in Tractor Supply by 864.6% during the 4th quarter. SG Americas Securities LLC now owns 53,949 shares of the specialty retailer's stock valued at $2,863,000 after purchasing an additional 48,356 shares during the period. Janney Montgomery Scott LLC boosted its position in Tractor Supply by 420.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 169,159 shares of the specialty retailer's stock valued at $8,976,000 after purchasing an additional 136,647 shares during the period. Mutual Advisors LLC boosted its position in Tractor Supply by 568.5% during the 4th quarter. Mutual Advisors LLC now owns 11,785 shares of the specialty retailer's stock valued at $631,000 after purchasing an additional 10,022 shares during the period. Finally, Avior Wealth Management LLC boosted its position in Tractor Supply by 371.3% during the 4th quarter. Avior Wealth Management LLC now owns 1,871 shares of the specialty retailer's stock valued at $99,000 after purchasing an additional 1,474 shares during the period. 98.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Stephens assumed coverage on Tractor Supply in a research report on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 price objective for the company. Wall Street Zen upgraded Tractor Supply from a "sell" rating to a "hold" rating in a research report on Saturday, May 24th. Truist Financial reduced their price objective on Tractor Supply from $63.00 to $60.00 and set a "buy" rating for the company in a research report on Friday, January 31st. Raymond James reduced their price objective on Tractor Supply from $61.00 to $57.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Finally, Guggenheim decreased their price target on Tractor Supply from $60.00 to $55.00 and set a "buy" rating for the company in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $58.02.

Tractor Supply Trading Down 0.4%

Shares of NASDAQ TSCO traded down $0.22 during mid-day trading on Friday, hitting $48.75. 1,164,865 shares of the company traded hands, compared to its average volume of 5,142,296. Tractor Supply has a 1 year low of $46.85 and a 1 year high of $61.53. The stock has a market capitalization of $25.85 billion, a price-to-earnings ratio of 23.89, a PEG ratio of 2.95 and a beta of 0.82. 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 $51.24 and a two-hundred day moving average of $53.75.

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

Tractor Supply Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Wednesday, May 28th. Tractor Supply's dividend payout ratio is 45.77%.

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

Insider Activity

In related news, SVP Matthew L. Rubin sold 2,810 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $51.76, for a total value of $145,445.60. Following the completion of the sale, the senior vice president now directly owns 29,722 shares of the company's stock, valued at approximately $1,538,410.72. This 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 this hyperlink. 0.65% of the stock is currently owned by company insiders.

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.