StoneX Group Inc. Makes New $848,000 Investment in Tractor Supply (NASDAQ:TSCO)

StoneX Group Inc. acquired a new stake in Tractor Supply (NASDAQ:TSCO) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 15,982 shares of the specialty retailer’s stock, valued at approximately $848,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BOK Financial Private Wealth Inc. raised its stake in shares of 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 valued at $1,133,000 after purchasing an additional 16,391 shares during the period. CIBC Private Wealth Group LLC increased its position in shares of Tractor Supply by 385.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,089,542 shares of the specialty retailer’s stock worth $59,260,000 after purchasing an additional 865,273 shares during the last quarter. Blueshift Asset Management LLC increased its holdings in Tractor Supply by 571.8% in the fourth quarter. Blueshift Asset Management LLC now owns 66,815 shares of the specialty retailer’s stock valued at $3,545,000 after buying an additional 56,870 shares during the last quarter. Callan Family Office LLC bought a new position in Tractor Supply during the 4th quarter worth approximately $503,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Tractor Supply by 379.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 890,898 shares of the specialty retailer’s stock valued at $47,271,000 after purchasing an additional 704,896 shares during the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

Tractor Supply Price Performance

Shares of NASDAQ TSCO opened at $55.62 on Thursday. 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 has a fifty-two week low of $48.30 and a fifty-two week high of $61.53. The stock has a market capitalization of $29.70 billion, a PE ratio of 27.26, a P/E/G ratio of 2.95 and a beta of 0.85. The business has a fifty day moving average price of $54.98 and a two-hundred day moving average price of $55.64.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.28 by ($1.84). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. As a group, equities analysts predict that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply announced that its Board of Directors has approved a share repurchase plan on Thursday, February 13th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the specialty retailer to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Tractor Supply Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 6.62%. The ex-dividend date of this dividend was Wednesday, February 26th. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio (DPR) is 45.10%.

Insiders Place Their Bets

In other news, EVP Melissa Kersey sold 9,300 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $53.17, for a total value of $494,481.00. Following the transaction, the executive vice president now owns 34,961 shares in the company, valued at approximately $1,858,876.37. The trade was a 21.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Matthew L. Rubin sold 3,850 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total transaction of $222,106.50. Following the completion of the transaction, the senior vice president now owns 31,787 shares in the company, valued at approximately $1,833,792.03. The trade was a 10.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 137,993 shares of company stock valued at $7,538,068 in the last ninety days. 0.24% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TSCO. JPMorgan Chase & Co. increased their price objective on shares of Tractor Supply from $58.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Bank of America boosted their price objective on Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a research note on Thursday, January 16th. Telsey Advisory Group restated an “outperform” rating and set a $67.00 price objective on shares of Tractor Supply in a research report on Thursday, January 30th. Mizuho boosted their target price on Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Finally, Guggenheim reissued a “buy” rating and set a $60.00 target price on shares of Tractor Supply in a research note on Friday, January 31st. Two research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Tractor Supply has a consensus rating of “Moderate Buy” and a consensus target price of $59.22.

Tractor Supply 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.