Brant Point Investment Management LLC Purchases 53,415 Shares of Tractor Supply (NASDAQ:TSCO)

Brant Point Investment Management LLC boosted its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 406.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,545 shares of the specialty retailer’s stock after buying an additional 53,415 shares during the period. Brant Point Investment Management LLC’s holdings in Tractor Supply were worth $3,531,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Commerce Bank increased its stake in Tractor Supply by 393.8% in the fourth quarter. Commerce Bank now owns 159,213 shares of the specialty retailer’s stock valued at $8,448,000 after acquiring an additional 126,973 shares during the period. Capital Group Private Client Services Inc. lifted its position in shares of Tractor Supply by 374.0% during the 4th quarter. Capital Group Private Client Services Inc. now owns 961,656 shares of the specialty retailer’s stock worth $51,025,000 after buying an additional 758,774 shares during the period. Capital International Investors boosted its stake in Tractor Supply by 334.7% in the 4th quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer’s stock valued at $818,421,000 after buying an additional 11,880,010 shares in the last quarter. Capital International Sarl boosted its stake in shares of Tractor Supply by 404.6% in the 4th quarter. Capital International Sarl now owns 53,055 shares of the specialty retailer’s stock valued at $2,815,000 after purchasing an additional 42,541 shares in the last quarter. Finally, Alpha DNA Investment Management LLC boosted its stake in shares of Tractor Supply by 435.9% in the 4th quarter. Alpha DNA Investment Management LLC now owns 11,335 shares of the specialty retailer’s stock valued at $601,000 after purchasing an additional 9,220 shares in the last quarter. Institutional investors own 98.72% of the company’s stock.

Tractor Supply Trading Up 1.5 %

Shares of NASDAQ:TSCO opened at $50.11 on Friday. The firm has a market cap of $26.64 billion, a price-to-earnings ratio of 24.56, a PEG ratio of 2.95 and a beta of 0.88. 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 $46.97 and a 12 month high of $61.53. The company’s fifty day simple moving average is $53.84 and its 200 day simple moving average is $55.19.

Tractor Supply (NASDAQ:TSCO) last released its earnings results on Thursday, January 30th. The specialty retailer reported $0.44 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, research analysts forecast that Tractor Supply will post 2.17 EPS for the current fiscal year.

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

Tractor Supply Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were issued a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 7.34%. The ex-dividend date of this dividend was Wednesday, February 26th. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio is presently 45.10%.

Insider Activity at Tractor Supply

In other Tractor Supply news, EVP Melissa Kersey sold 9,300 shares of the company’s stock in a transaction 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 directly owns 34,961 shares in the company, valued at $1,858,876.37. The trade was a 21.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Matthew L. Rubin sold 3,850 shares of the stock in a transaction dated 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 directly owns 31,787 shares in the company, valued at $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. Over the last three months, insiders sold 137,993 shares of company stock valued at $7,538,068. 0.24% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on TSCO shares. Mizuho upped their price objective on shares of Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Guggenheim reissued a “buy” rating and issued a $60.00 price objective on shares of Tractor Supply in a research note on Friday, January 31st. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $67.00 price target on shares of Tractor Supply in a report on Thursday. Truist Financial reduced their price target on shares of Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Finally, Bank of America increased their price target on shares of Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a research note on Thursday, January 16th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $59.07.

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.