Mufg Securities Americas Inc. Makes New Investment in Tractor Supply (NASDAQ:TSCO)

Mufg Securities Americas Inc. purchased a new position in Tractor Supply (NASDAQ:TSCO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,887 shares of the specialty retailer’s stock, valued at approximately $418,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of TSCO. Smithfield Trust Co grew its position in shares of Tractor Supply by 286.2% during the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 352 shares in the last quarter. Blue Trust Inc. grew its position in shares of Tractor Supply by 28.2% during the fourth quarter. Blue Trust Inc. now owns 1,646 shares of the specialty retailer’s stock worth $87,000 after purchasing an additional 362 shares in the last quarter. Dunhill Financial LLC grew its position in shares of Tractor Supply by 325.8% during the fourth quarter. Dunhill Financial LLC now owns 511 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 391 shares in the last quarter. Archer Investment Corp grew its position in shares of Tractor Supply by 400.0% during the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 400 shares in the last quarter. Finally, PrairieView Partners LLC grew its position in shares of Tractor Supply by 400.0% during the fourth quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Insider Buying and Selling

In related news, SVP Matthew L. Rubin sold 3,850 shares of the firm’s stock in a transaction that occurred on 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 directly owns 31,787 shares of the company’s stock, valued at approximately $1,833,792.03. This trade represents a 10.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.65% of the stock is owned by corporate insiders.

Tractor Supply Price Performance

NASDAQ:TSCO opened at $52.17 on Friday. The firm has a market capitalization of $27.66 billion, a price-to-earnings ratio of 25.57, a PEG ratio of 2.95 and a beta of 0.82. Tractor Supply has a 1 year low of $46.85 and a 1 year high of $61.53. The business has a 50 day simple moving average of $51.66 and a 200-day simple moving average of $54.08. 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) last posted its quarterly earnings data 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). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. The company had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.55 billion. During the same period in the previous year, the business earned $1.83 earnings per share. Tractor Supply’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities analysts forecast that Tractor Supply will post 2.17 EPS for the current year.

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.

Tractor Supply Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.76%. Tractor Supply’s dividend payout ratio is currently 45.77%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TSCO. UBS Group set a $54.00 target price on Tractor Supply in a research report on Friday, April 25th. Raymond James cut their target price on Tractor Supply from $61.00 to $57.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. JPMorgan Chase & Co. cut their target price on Tractor Supply from $59.00 to $56.00 and set a “neutral” rating for the company in a research report on Monday, April 28th. Telsey Advisory Group set a $60.00 target price on Tractor Supply in a research report on Friday, April 25th. Finally, Robert W. Baird dropped their price target 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Tractor Supply has a consensus rating of “Moderate Buy” and a consensus 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.