Jacobs Levy Equity Management Inc. Invests $156.40 Million in Tractor Supply (NASDAQ:TSCO)

Jacobs Levy Equity Management Inc. purchased a new position in shares of Tractor Supply (NASDAQ:TSCO - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,947,687 shares of the specialty retailer's stock, valued at approximately $156,404,000. Jacobs Levy Equity Management Inc. owned about 0.55% of Tractor Supply as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of TSCO. Vanguard Group Inc. lifted its stake in shares of Tractor Supply by 392.5% during the 4th quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer's stock worth $3,397,643,000 after acquiring an additional 51,031,178 shares during the last quarter. Wellington Management Group LLP raised its position in Tractor Supply by 401.8% during 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 in the last quarter. Alliancebernstein L.P. raised its position in Tractor Supply by 403.3% during 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 in the last quarter. Capital World Investors raised its position in Tractor Supply by 403.7% during 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 in the last quarter. Finally, Capital International Investors raised its position in Tractor Supply by 334.7% during 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 in the last quarter. 98.72% of the stock is owned by institutional investors.

Tractor Supply Stock Down 1.8%

TSCO stock traded down $0.93 on Wednesday, hitting $51.38. 6,486,484 shares of the company's stock were exchanged, compared to its average volume of 5,166,318. 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 price of $51.76 and a two-hundred day moving average price of $54.09. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. The stock has a market cap of $27.31 billion, a P/E ratio of 25.19, a price-to-earnings-growth ratio of 2.95 and a beta of 0.82.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced 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 analysts' expectations of $3.55 billion. During the same quarter last year, the firm earned $1.83 earnings per share. The firm's quarterly revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts expect that Tractor Supply will post 2.17 EPS for the current fiscal year.

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TSCO shares. Telsey Advisory Group set a $60.00 target price on Tractor Supply in a research report on Friday, April 25th. Guggenheim decreased 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. Citigroup decreased their target price on Tractor Supply from $59.00 to $51.00 and set a "neutral" 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. Finally, Stephens began coverage on Tractor Supply in a research report on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $58.02.

Insider Buying and Selling

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was 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 in the company, valued at approximately $1,833,792.03. The trade was a 10.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kurt D. Barton sold 12,146 shares of the business's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $56.00, for a total value of $680,176.00. Following the sale, the chief financial officer now owns 47,715 shares in the company, valued at approximately $2,672,040. The trade was a 20.29% decrease in their position. The disclosure for this sale can be found here. 0.65% of the stock is 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.