RiverPark Advisors LLC Raises Holdings in Tractor Supply (NASDAQ:TSCO)

RiverPark Advisors LLC grew its stake in Tractor Supply (NASDAQ:TSCO - Free Report) by 431.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,330 shares of the specialty retailer's stock after purchasing an additional 22,184 shares during the period. RiverPark Advisors LLC's holdings in Tractor Supply were worth $1,450,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Wilmington Savings Fund Society FSB purchased a new stake in shares of Tractor Supply in the third quarter valued at approximately $734,000. Tidal Investments LLC grew its position 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 purchasing an additional 83,601 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Tractor Supply by 2.0% in the third 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 in the last quarter. Versant Capital Management Inc grew its position in shares of Tractor Supply by 345.6% in the fourth quarter. Versant Capital Management Inc now owns 860 shares of the specialty retailer's stock valued at $46,000 after purchasing an additional 667 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Tractor Supply by 515.5% in the fourth quarter. GAMMA Investing LLC now owns 13,702 shares of the specialty retailer's stock valued at $727,000 after purchasing an additional 11,476 shares in the last quarter. Hedge funds and other institutional investors own 98.72% of the company's stock.

Tractor Supply Price Performance

Shares of NASDAQ TSCO traded up $0.37 during midday trading on Tuesday, hitting $49.37. The company had a trading volume of 1,130,232 shares, compared to its average volume of 5,104,362. 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 business has a 50-day simple moving average of $52.86 and a two-hundred day simple moving average of $54.65. The firm has a market capitalization of $26.25 billion, a price-to-earnings ratio of 24.18, a price-to-earnings-growth ratio of 2.95 and a beta of 0.88.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted 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). The business had revenue of $3.47 billion for the quarter, compared to analysts' expectations of $3.55 billion. Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. The business's revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.83 earnings per share. Equities research analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 7.45%. The ex-dividend date of this dividend was Wednesday, February 26th. This is a positive change from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's dividend payout ratio is currently 45.77%.

Tractor Supply declared that its Board of Directors has authorized a stock repurchase program 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 shares through open market purchases. Shares repurchase programs are often a sign that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on TSCO shares. Raymond James decreased their price objective on Tractor Supply from $61.00 to $57.00 and set an "outperform" rating on the stock in a report on Friday. Mizuho decreased their price target on Tractor Supply from $62.00 to $58.00 and set an "outperform" rating on the stock in a research note on Friday. Barclays decreased their price target on Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Monday, December 30th. Telsey Advisory Group set a $60.00 price target on Tractor Supply in a research note on Friday. Finally, UBS Group set a $54.00 price target on Tractor Supply in a research note on Friday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $58.02.

Insiders Place Their Bets

In related 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 value of $1,332,198.30. Following the transaction, the executive vice president now directly owns 33,645 shares of the company's stock, valued at approximately $1,821,876.75. This trade represents a 42.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Harry A. Lawton III sold 88,095 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $54.59, for a total value of $4,809,106.05. Following the completion of the transaction, the chief executive officer now directly owns 488,852 shares in the company, valued at $26,686,430.68. This trade represents a 15.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 137,993 shares of company stock valued at $7,538,068 in the last quarter. 0.65% of the stock is currently 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.