Occudo Quantitative Strategies LP Boosts Position in Tractor Supply (NASDAQ:TSCO)

Occudo Quantitative Strategies LP increased its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 3,149.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in TSCO. Smithfield Trust Co boosted 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 valued at $25,000 after acquiring an additional 352 shares during the period. Coppell Advisory Solutions LLC boosted its holdings in shares of Tractor Supply by 944.4% in the fourth quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 425 shares during the period. PrairieView Partners LLC boosted its holdings in shares of 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 acquiring an additional 400 shares during the period. Future Financial Wealth Managment LLC boosted its holdings in shares of Tractor Supply by 400.0% in the fourth 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 period. Finally, Archer Investment Corp boosted its holdings in shares of Tractor Supply by 400.0% in the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 400 shares during the period. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Stock Up 2.8%

Tractor Supply stock opened at $52.72 on Tuesday. 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 firm has a market capitalization of $28.03 billion, a price-to-earnings ratio of 25.84, a price-to-earnings-growth ratio of 2.95 and a beta of 0.82. Tractor Supply has a fifty-two week low of $46.85 and a fifty-two week high of $61.53. The stock’s fifty day moving average is $51.92 and its two-hundred day moving average is $54.12.

Tractor Supply (NASDAQ:TSCO) 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 firm had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.55 billion. Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the company posted $1.83 EPS. Analysts predict that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply announced that its Board of Directors has initiated a share repurchase program on Thursday, February 13th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the specialty retailer to purchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Tractor Supply Increases Dividend

The business also recently disclosed 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 represents a $3.68 dividend on an annualized basis and a dividend yield of 6.98%. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio (DPR) is presently 45.77%.

Insider Activity at Tractor Supply

In other Tractor Supply news, CFO Kurt D. Barton sold 12,146 shares of the firm’s stock in a transaction dated 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 directly owns 47,715 shares of the company’s stock, valued at approximately $2,672,040. This trade represents a 20.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 value of $222,106.50. Following the completion of the sale, the senior vice president now directly owns 31,787 shares in the company, valued at approximately $1,833,792.03. The trade was a 10.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.65% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TSCO. Mizuho decreased their price objective on Tractor Supply from $62.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Guggenheim cut their price target on Tractor Supply from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Truist Financial cut their price target on Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Telsey Advisory Group set a $60.00 price target on Tractor Supply in a research note on Friday, April 25th. Finally, Citigroup cut their price target on Tractor Supply from $59.00 to $51.00 and set a “neutral” rating for the company in a research note on Friday, April 25th. One research 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 stock. According to MarketBeat.com, Tractor Supply has a consensus rating of “Moderate Buy” and an average price target of $58.02.

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.