Twinbeech Capital LP Grows Holdings in Tractor Supply (NASDAQ:TSCO)

Twinbeech Capital LP grew its position in Tractor Supply (NASDAQ:TSCO) by 1,335.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 29,610 shares of the specialty retailer’s stock after acquiring an additional 27,547 shares during the period. Twinbeech Capital LP’s holdings in Tractor Supply were worth $1,571,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Coppell Advisory Solutions LLC boosted its holdings in Tractor Supply by 944.4% in the 4th quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer’s stock worth $25,000 after buying an additional 425 shares during the period. Smithfield Trust Co lifted its position 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 in the last quarter. Archer Investment Corp boosted its stake 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 worth $27,000 after acquiring an additional 400 shares during the period. PrairieView Partners LLC boosted its stake 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 worth $26,000 after acquiring an additional 400 shares during the period. Finally, Kentucky Trust Co purchased a new stake in shares of Tractor Supply during the fourth quarter worth about $27,000. 98.72% of the stock is currently owned by institutional investors.

Insider Activity

In related news, SVP Matthew L. Rubin sold 2,810 shares of Tractor Supply stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $51.76, for a total transaction of $145,445.60. Following the completion of the transaction, the senior vice president now directly owns 29,722 shares of the company’s stock, valued at approximately $1,538,410.72. The trade was a 8.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Stephens started coverage on Tractor Supply in a report on Wednesday, April 9th. They issued an “equal weight” rating and a $56.00 price target on the stock. UBS Group set a $54.00 target price on shares of Tractor Supply in a report on Friday, April 25th. Truist Financial dropped 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. JPMorgan Chase & Co. reduced their price target on shares of Tractor Supply from $59.00 to $56.00 and set a “neutral” rating on the stock in a report on Monday, April 28th. Finally, Mizuho decreased their price target on shares of Tractor Supply from $62.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Tractor Supply currently has an average rating of “Moderate Buy” and an average price target of $58.02.

Tractor Supply Trading Down 3.0%

Shares of NASDAQ TSCO opened at $50.04 on Thursday. Tractor Supply has a 1-year low of $46.85 and a 1-year high of $61.53. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. The business’s 50 day moving average is $51.62 and its two-hundred day moving average is $54.04. The stock has a market capitalization of $26.53 billion, a P/E ratio of 24.53, a PEG ratio of 2.95 and a beta of 0.82.

Tractor Supply (NASDAQ:TSCO) last released 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). 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 for the quarter, compared to the consensus estimate of $3.55 billion. During the same period in the prior year, the firm posted $1.83 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, research analysts expect that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply announced that its Board of Directors has initiated a stock buyback program on Thursday, February 13th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the specialty retailer to reacquire up to 3.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Tractor Supply Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Wednesday, May 28th. Tractor Supply’s dividend payout ratio (DPR) is 45.77%.

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.