GAMMA Investing LLC Has $46.16 Million Stock Holdings in Tractor Supply (NASDAQ:TSCO)

GAMMA Investing LLC raised its stake in shares of Tractor Supply (NASDAQ:TSCO) by 6,014.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 837,796 shares of the specialty retailer’s stock after purchasing an additional 824,094 shares during the period. GAMMA Investing LLC owned 0.16% of Tractor Supply worth $46,163,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FORA Capital LLC grew its holdings in Tractor Supply by 434.1% during the fourth quarter. FORA Capital LLC now owns 35,526 shares of the specialty retailer’s stock valued at $1,885,000 after purchasing an additional 28,875 shares during the last quarter. CIBC Private Wealth Group LLC increased its position in Tractor Supply by 385.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,089,542 shares of the specialty retailer’s stock worth $59,260,000 after acquiring an additional 865,273 shares during the period. BOK Financial Private Wealth Inc. increased its position in Tractor Supply by 330.2% during the fourth quarter. BOK Financial Private Wealth Inc. now owns 21,355 shares of the specialty retailer’s stock worth $1,133,000 after acquiring an additional 16,391 shares during the period. Gen Wealth Partners Inc increased its position in Tractor Supply by 513.8% during the fourth quarter. Gen Wealth Partners Inc now owns 14,320 shares of the specialty retailer’s stock worth $760,000 after acquiring an additional 11,987 shares during the period. Finally, Blueshift Asset Management LLC increased its position in Tractor Supply by 571.8% during the fourth quarter. Blueshift Asset Management LLC now owns 66,815 shares of the specialty retailer’s stock worth $3,545,000 after acquiring an additional 56,870 shares during the period. Institutional investors and hedge funds own 98.72% of the company’s stock.

Tractor Supply Stock Up 2.5%

Shares of NASDAQ TSCO opened at $49.05 on Wednesday. The firm’s 50-day simple moving average is $50.93 and its 200 day simple moving average is $53.59. The company has a market cap of $26.01 billion, a price-to-earnings ratio of 24.04, a price-to-earnings-growth ratio of 2.95 and a beta of 0.82. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. Tractor Supply has a 12-month low of $46.85 and a 12-month high of $61.53.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly 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 company had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.55 billion. Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company earned $1.83 EPS. On average, research analysts expect that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply declared that its board has initiated a share repurchase plan on Thursday, February 13th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to repurchase up to 3.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Tractor Supply Cuts Dividend

The firm also recently announced 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. The ex-dividend date is Wednesday, May 28th. This represents a $0.92 dividend on an annualized basis and a yield of 1.88%. Tractor Supply’s payout ratio is presently 45.77%.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 2,810 shares of the company’s 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 transaction, the senior vice president now directly owns 29,722 shares in the company, valued at approximately $1,538,410.72. This represents a 8.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on TSCO shares. Guggenheim dropped their target price on shares of Tractor Supply from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Citigroup lowered their price target on shares of Tractor Supply from $59.00 to $51.00 and set a “neutral” rating on the stock in a report on Friday, April 25th. Telsey Advisory Group set a $60.00 price target on shares of Tractor Supply in a report on Friday, April 25th. Raymond James lowered their price target on shares of Tractor Supply from $61.00 to $57.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Finally, Mizuho lowered their price target on shares of Tractor Supply from $62.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Tractor Supply currently has a consensus rating of “Moderate Buy” and a consensus 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.