MGO One Seven LLC Grows Stake in Tractor Supply (NASDAQ:TSCO)

MGO One Seven LLC boosted its position in Tractor Supply (NASDAQ:TSCO - Free Report) by 352.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,196 shares of the specialty retailer's stock after buying an additional 6,385 shares during the quarter. MGO One Seven LLC's holdings in Tractor Supply were worth $435,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in TSCO. Wilmington Savings Fund Society FSB bought a new stake in Tractor Supply in the third quarter valued at about $734,000. Tidal Investments LLC grew its stake in shares of Tractor Supply by 722.5% in the third quarter. Tidal Investments LLC now owns 95,172 shares of the specialty retailer's stock valued at $27,688,000 after buying an additional 83,601 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Tractor Supply by 2.0% in the 3rd quarter. Franklin Resources Inc. now owns 454,175 shares of the specialty retailer's stock valued at $137,950,000 after purchasing an additional 8,890 shares during the period. Versant Capital Management Inc boosted its stake in shares of Tractor Supply by 345.6% during the 4th quarter. Versant Capital Management Inc now owns 860 shares of the specialty retailer's stock worth $46,000 after acquiring an additional 667 shares during the period. Finally, GAMMA Investing LLC boosted its position in Tractor Supply by 515.5% during the fourth quarter. GAMMA Investing LLC now owns 13,702 shares of the specialty retailer's stock worth $727,000 after purchasing an additional 11,476 shares during the period. 98.72% of the stock is owned by institutional investors.

Tractor Supply Stock Up 1.5 %

Shares of TSCO traded up $0.75 during trading on Wednesday, reaching $50.62. The company's stock had a trading volume of 10,109,838 shares, compared to its average volume of 5,133,637. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. Tractor Supply has a twelve month low of $46.85 and a twelve month high of $61.53. The company has a fifty day moving average of $52.59 and a two-hundred day moving average of $54.59. The company has a market cap of $26.91 billion, a price-to-earnings ratio of 24.81, a P/E/G ratio of 2.95 and a beta of 0.88.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued 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). The business had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.55 billion. Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. The business's quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the business earned $1.83 EPS. On average, sell-side analysts predict that Tractor Supply will post 2.17 EPS for the current fiscal year.

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

Tractor Supply Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were given a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 7.27%. The ex-dividend date was Wednesday, February 26th. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's dividend payout ratio (DPR) is presently 45.77%.

Insider Activity

In other news, EVP Colin Yankee sold 24,602 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $54.15, for a total transaction of $1,332,198.30. Following the sale, the executive vice president now directly owns 33,645 shares of the company's stock, valued at approximately $1,821,876.75. This represents a 42.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Melissa Kersey sold 9,300 shares of the business's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $53.17, for a total value of $494,481.00. Following the transaction, the executive vice president now directly owns 34,961 shares of the company's stock, valued at approximately $1,858,876.37. The trade was a 21.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 137,993 shares of company stock valued at $7,538,068. 0.65% of the stock is currently owned by insiders.

Analyst Ratings Changes

TSCO has been the topic of several analyst reports. JPMorgan Chase & Co. reduced their target price on Tractor Supply from $59.00 to $56.00 and set a "neutral" rating on the stock in a report on Monday. Bank of America boosted their price objective on Tractor Supply from $44.00 to $53.00 and gave the stock an "underperform" rating in a research report on Thursday, January 16th. UBS Group set a $54.00 price target on shares of Tractor Supply in a report on Friday, April 25th. Raymond James reduced their target price on Tractor Supply from $61.00 to $57.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Finally, Telsey Advisory Group set a $60.00 price objective on Tractor Supply in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $58.02.

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.