Crestline Management LP Acquires New Shares in Tractor Supply (NASDAQ:TSCO)

Crestline Management LP bought a new position in Tractor Supply (NASDAQ:TSCO) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 14,407 shares of the specialty retailer’s stock, valued at approximately $764,000.

Several other hedge funds have also recently modified their holdings of TSCO. Vanguard Group Inc. boosted its holdings in shares of Tractor Supply by 392.5% during the 4th quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer’s stock valued at $3,397,643,000 after acquiring an additional 51,031,178 shares during the last quarter. Wellington Management Group LLP raised its stake in Tractor Supply by 401.8% during the 4th quarter. Wellington Management Group LLP now owns 23,789,249 shares of the specialty retailer’s stock valued at $1,262,258,000 after buying an additional 19,048,385 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Tractor Supply by 403.3% during the 4th quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer’s stock valued at $1,180,932,000 after buying an additional 17,834,643 shares during the period. Capital World Investors boosted its stake in shares of Tractor Supply by 403.7% in the 4th quarter. Capital World Investors now owns 19,433,135 shares of the specialty retailer’s stock worth $1,031,122,000 after buying an additional 15,575,311 shares during the last quarter. Finally, Capital International Investors grew its holdings in shares of Tractor Supply by 334.7% in the fourth quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer’s stock worth $818,421,000 after acquiring an additional 11,880,010 shares during the period. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Stock Down 0.2 %

Shares of NASDAQ:TSCO opened at $51.31 on Friday. The company has a market cap of $27.28 billion, a price-to-earnings ratio of 25.15, a PEG ratio of 2.95 and a beta of 0.82. Tractor Supply has a 12 month low of $46.85 and a 12 month high of $61.53. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. The company has a 50-day moving average price of $51.96 and a 200 day moving average price of $54.17.

Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Thursday, April 24th. The specialty retailer reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. The company had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.55 billion. During the same quarter last year, the firm posted $1.83 EPS. Tractor Supply’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities research analysts predict that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply announced that its Board of Directors has authorized a stock repurchase program on Thursday, February 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the specialty retailer to buy up to 3.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Tractor Supply Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were paid a dividend of $0.92 per share. The ex-dividend date was Wednesday, February 26th. This is a boost 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 7.17%. Tractor Supply’s payout ratio is currently 45.77%.

Insider Activity at Tractor Supply

In other Tractor Supply news, CFO Kurt D. Barton sold 12,146 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $56.00, for a total value of $680,176.00. Following the sale, the chief financial officer now owns 47,715 shares in the company, valued at $2,672,040. This trade represents a 20.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Colin Yankee sold 24,602 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $54.15, for a total transaction of $1,332,198.30. Following the completion of 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 trade represents a 42.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,598 shares of company stock worth $2,234,481. Insiders own 0.65% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Telsey Advisory Group set a $60.00 target price on Tractor Supply in a research report on Friday, April 25th. Truist Financial cut their target price on shares of Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Stephens began coverage on shares of Tractor Supply in a research note on Wednesday, April 9th. They set an “equal weight” rating and a $56.00 price target on the stock. Robert W. Baird reduced their price objective on Tractor Supply from $63.00 to $56.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Finally, Bank of America upped their price target on Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $58.02.

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.