Two Sigma Securities LLC Raises Stock Position in Tractor Supply (NASDAQ:TSCO)

by · The Cerbat Gem

Two Sigma Securities LLC lifted its stake in Tractor Supply (NASDAQ:TSCO – Free Report) by 73.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,236 shares of the specialty retailer’s stock after purchasing an additional 4,771 shares during the period. Two Sigma Securities LLC’s holdings in Tractor Supply were worth $596,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of TSCO. CIBC Private Wealth Group LLC lifted its stake in shares of Tractor Supply by 385.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,089,542 shares of the specialty retailer’s stock valued at $59,260,000 after purchasing an additional 865,273 shares during the period. BOK Financial Private Wealth Inc. boosted its holdings in shares of Tractor Supply by 330.2% during the 4th quarter. BOK Financial Private Wealth Inc. now owns 21,355 shares of the specialty retailer’s stock valued at $1,133,000 after buying an additional 16,391 shares in the last quarter. Blueshift Asset Management LLC grew its position in shares of Tractor Supply by 571.8% in the 4th quarter. Blueshift Asset Management LLC now owns 66,815 shares of the specialty retailer’s stock worth $3,545,000 after buying an additional 56,870 shares during the period. Heritage Trust Co bought a new position in shares of Tractor Supply in the 4th quarter worth about $1,829,000. Finally, Callan Family Office LLC bought a new position in shares of Tractor Supply in the 4th quarter worth about $503,000. Institutional investors own 98.72% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on TSCO. Raymond James cut their price objective on shares of Tractor Supply from $61.00 to $57.00 and set an “outperform” rating on the stock in a report on Friday. Truist Financial reduced their price objective on Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Robert W. Baird dropped their target price on Tractor Supply from $63.00 to $56.00 and set an “outperform” rating on the stock in a report on Friday. Mizuho cut their target price on Tractor Supply from $62.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $67.00 price target on shares of Tractor Supply in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $57.88.

Get Our Latest Stock Analysis on Tractor Supply

Tractor Supply Trading Up 1.9 %

Shares of Tractor Supply stock opened at $49.92 on Friday. Tractor Supply has a fifty-two week low of $46.85 and a fifty-two week high of $61.53. 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 company has a market capitalization of $26.54 billion, a P/E ratio of 24.47, a P/E/G ratio of 2.95 and a beta of 0.88. The company has a fifty day moving average of $53.04 and a 200 day moving average of $54.80.

Tractor Supply (NASDAQ:TSCO – Get Free Report) last released 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 business had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.55 billion. Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. On average, sell-side analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were given a dividend of $0.92 per share. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 dividend on an annualized basis and a dividend yield of 7.37%. The ex-dividend date of this dividend was Wednesday, February 26th. 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 at Tractor Supply

In related news, CEO Harry A. Lawton III sold 88,095 shares of the firm’s 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 sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Matthew L. Rubin sold 3,850 shares of the firm’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 completion of the sale, the senior vice president now owns 31,787 shares of the company’s stock, valued at $1,833,792.03. This trade represents a 10.80 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 137,993 shares of company stock valued at $7,538,068. 0.65% of the stock is owned by corporate insiders.

Tractor Supply Profile

(Free Report)

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.

Featured Stories