MeadowBrook Investment Advisors LLC Makes New Investment in Tractor Supply (NASDAQ:TSCO)

MeadowBrook Investment Advisors LLC bought a new position in Tractor Supply (NASDAQ:TSCO - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 2,960 shares of the specialty retailer's stock, valued at approximately $636,000.

Several other hedge funds have also made changes to their positions in the company. OFI Invest Asset Management bought a new position in Tractor Supply in the third quarter worth about $25,000. Pinnacle Bancorp Inc. purchased a new stake in Tractor Supply during the fourth quarter valued at approximately $28,000. VisionPoint Advisory Group LLC boosted its stake in Tractor Supply by 105.6% in the third quarter. VisionPoint Advisory Group LLC now owns 148 shares of the specialty retailer's stock valued at $30,000 after acquiring an additional 76 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Tractor Supply during the third quarter worth $33,000. Finally, Cetera Trust Company N.A purchased a new stake in shares of Tractor Supply during the 4th quarter valued at $38,000. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Tractor Supply Price Performance

NASDAQ TSCO traded up $0.59 on Tuesday, hitting $270.13. The company had a trading volume of 639,082 shares, compared to its average volume of 1,161,608. The company has a market capitalization of $29.16 billion, a PE ratio of 26.25, a PEG ratio of 3.41 and a beta of 0.82. The company's fifty day moving average price is $256.34 and its 200-day moving average price is $229.78. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.40 and a quick ratio of 0.19. Tractor Supply has a 12-month low of $185.00 and a 12-month high of $279.38.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.83 EPS for the quarter, topping the consensus estimate of $1.70 by $0.13. The company had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.40 billion. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The firm's revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.65 EPS. As a group, analysts predict that Tractor Supply will post 10.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TSCO. Robert W. Baird boosted their target price on Tractor Supply from $260.00 to $285.00 and gave the stock an "outperform" rating in a research note on Friday, April 26th. Morgan Stanley increased their price objective on shares of Tractor Supply from $195.00 to $235.00 and gave the company an "underweight" rating in a research report on Friday, April 26th. Benchmark restated a "buy" rating and set a $256.00 price target on shares of Tractor Supply in a research note on Monday, April 22nd. Wells Fargo & Company lifted their price objective on shares of Tractor Supply from $250.00 to $285.00 and gave the stock an "overweight" rating in a research note on Monday, March 25th. Finally, Piper Sandler boosted their price objective on shares of Tractor Supply from $265.00 to $300.00 and gave the company an "overweight" rating in a report on Monday, April 29th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $253.54.

Insider Buying and Selling

In other Tractor Supply news, EVP Colin Yankee sold 8,675 shares of Tractor Supply stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $250.00, for a total transaction of $2,168,750.00. Following the sale, the executive vice president now owns 9,673 shares of the company's stock, valued at approximately $2,418,250. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Tractor Supply news, CFO Kurt D. Barton sold 401 shares of Tractor Supply stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $232.06, for a total transaction of $93,056.06. Following the sale, the chief financial officer now owns 25,013 shares of the company's stock, valued at approximately $5,804,516.78. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Colin Yankee sold 8,675 shares of Tractor Supply stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $250.00, for a total transaction of $2,168,750.00. Following the sale, the executive vice president now directly owns 9,673 shares in the company, valued at approximately $2,418,250. The disclosure for this sale can be found here. In the last quarter, insiders sold 90,090 shares of company stock valued at $21,201,877. 0.58% of the stock is owned by corporate insiders.

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.