Occudo Quantitative Strategies LP Buys 34,106 Shares of Tractor Supply (NASDAQ:TSCO)

Occudo Quantitative Strategies LP raised its stake in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 3,149.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,189 shares of the specialty retailer's stock after purchasing an additional 34,106 shares during the quarter. Occudo Quantitative Strategies LP's holdings in Tractor Supply were worth $1,867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Coppell Advisory Solutions LLC lifted its holdings in shares of Tractor Supply by 944.4% in the 4th quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer's stock worth $25,000 after acquiring an additional 425 shares during the last quarter. Smithfield Trust Co increased its holdings in shares of Tractor Supply by 286.2% in the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock worth $25,000 after buying an additional 352 shares during the period. Future Financial Wealth Managment LLC lifted its stake in shares of Tractor Supply by 400.0% in the 4th quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer's stock valued at $27,000 after acquiring an additional 400 shares during the last quarter. Archer Investment Corp grew its position in Tractor Supply by 400.0% during the 4th quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock worth $27,000 after acquiring an additional 400 shares during the last quarter. Finally, PrairieView Partners LLC lifted its position in Tractor Supply by 400.0% in the fourth quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer's stock valued at $26,000 after purchasing an additional 400 shares during the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on TSCO. Citigroup cut their target price on Tractor Supply from $59.00 to $51.00 and set a "neutral" rating on the stock in a research note on Friday, April 25th. Stephens assumed coverage on Tractor Supply in a research note on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 target price on the stock. Truist Financial cut their price target on shares of Tractor Supply from $63.00 to $60.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Raymond James decreased their price objective on shares of Tractor Supply from $61.00 to $57.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Finally, Telsey Advisory Group set a $60.00 target price on shares of Tractor Supply in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $58.02.

Tractor Supply Stock Up 1.6%

Tractor Supply stock traded up $0.82 during mid-day trading on Friday, reaching $52.99. The stock had a trading volume of 5,247,049 shares, compared to its average volume of 5,181,919. Tractor Supply has a one year low of $46.85 and a one year high of $61.53. The company has a 50-day moving average price of $51.66 and a two-hundred day moving average price of $54.08. The company has a market capitalization of $28.10 billion, a price-to-earnings ratio of 25.98, a PEG ratio of 2.95 and a beta of 0.82. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20.

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). The firm had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.55 billion. Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. The company's quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.83 EPS. On average, analysts expect that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $0.92 dividend on an annualized basis and a yield of 1.74%. Tractor Supply's dividend payout ratio is currently 45.77%.

Tractor Supply announced that its Board of Directors has initiated 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 repurchase up to 3.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

Insider Activity

In related news, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $57.69, for a total transaction of $222,106.50. Following the completion of the transaction, the senior vice president now directly owns 31,787 shares of the company's stock, 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 is accessible through the SEC website. Corporate insiders own 0.65% of the company's stock.

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.