Worldquant Millennium Advisors LLC Takes $5.54 Million Position in Tractor Supply (NASDAQ:TSCO)

Worldquant Millennium Advisors LLC purchased a new stake in shares of Tractor Supply (NASDAQ:TSCO - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 104,446 shares of the specialty retailer's stock, valued at approximately $5,542,000.

Other hedge funds also recently bought and sold shares of the company. FORA Capital LLC raised its stake in Tractor Supply by 434.1% during the fourth quarter. FORA Capital LLC now owns 35,526 shares of the specialty retailer's stock valued at $1,885,000 after purchasing an additional 28,875 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Tractor Supply by 385.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,089,542 shares of the specialty retailer's stock valued at $59,260,000 after acquiring an additional 865,273 shares during the period. BOK Financial Private Wealth Inc. raised its stake in shares of Tractor Supply by 330.2% in the fourth quarter. BOK Financial Private Wealth Inc. now owns 21,355 shares of the specialty retailer's stock valued at $1,133,000 after acquiring an additional 16,391 shares during the period. Gen Wealth Partners Inc raised its stake in shares of Tractor Supply by 513.8% in the fourth quarter. Gen Wealth Partners Inc now owns 14,320 shares of the specialty retailer's stock valued at $760,000 after acquiring an additional 11,987 shares during the period. Finally, Blueshift Asset Management LLC raised its stake in shares of Tractor Supply by 571.8% in the fourth quarter. Blueshift Asset Management LLC now owns 66,815 shares of the specialty retailer's stock valued at $3,545,000 after acquiring an additional 56,870 shares during the period. Hedge funds and other institutional investors own 98.72% of the company's stock.

Insiders Place Their Bets

In other Tractor Supply news, SVP Matthew L. Rubin sold 2,810 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $51.76, for a total transaction of $145,445.60. Following the transaction, the senior vice president now directly owns 29,722 shares in the company, valued at $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 available at the SEC website. 0.65% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TSCO shares. Stephens started coverage on shares of Tractor Supply in a research note on Wednesday, April 9th. They issued an "equal weight" rating and a $56.00 target price on the stock. Mizuho reduced their target price on shares of Tractor Supply from $62.00 to $58.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. UBS Group set a $54.00 target price on shares of Tractor Supply in a research note on Friday, April 25th. JPMorgan Chase & Co. reduced their target price on shares of Tractor Supply from $59.00 to $56.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. Finally, Truist Financial reduced 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 note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $58.02.

Tractor Supply Stock Up 0.1%

Tractor Supply stock traded up $0.03 during midday trading on Friday, hitting $49.70. 3,690,023 shares of the company's stock were exchanged, compared to its average volume of 5,147,072. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. Tractor Supply has a 12 month low of $46.85 and a 12 month high of $61.53. The firm has a 50-day moving average of $51.49 and a two-hundred day moving average of $53.94. The company has a market cap of $26.35 billion, a PE ratio of 24.36, a P/E/G ratio of 2.95 and a beta of 0.82.

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 (EPS) 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 the consensus estimate of $3.55 billion. During the same quarter in the previous year, the company earned $1.83 earnings per share. The firm's revenue was up 2.1% on a year-over-year basis. As a group, analysts expect that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

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

Tractor Supply Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders 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 yield of 1.85%. The ex-dividend date is Wednesday, May 28th. Tractor Supply's payout ratio is 45.77%.

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.