Magnetar Financial LLC Acquires Shares of 49,737 Tractor Supply Company $TSCO

Magnetar Financial LLC acquired a new stake in shares of Tractor Supply Company (NASDAQ:TSCO) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 49,737 shares of the specialty retailer’s stock, valued at approximately $2,829,000.

A number of other institutional investors have also made changes to their positions in the company. Delos Wealth Advisors LLC purchased a new position in shares of Tractor Supply in the second quarter valued at $26,000. Financial Gravity Companies Inc. purchased a new stake in Tractor Supply during the 2nd quarter worth $38,000. Clayton Financial Group LLC acquired a new position in Tractor Supply in the 3rd quarter worth $44,000. First Horizon Corp acquired a new position in Tractor Supply in the 3rd quarter worth $44,000. Finally, Evelyn Partners Asset Management Ltd purchased a new position in Tractor Supply in the 2nd quarter valued at about $46,000. 98.72% of the stock is owned by institutional investors and hedge funds.

Tractor Supply Price Performance

TSCO opened at $49.47 on Thursday. The company has a market capitalization of $26.04 billion, a P/E ratio of 23.90, a PEG ratio of 2.52 and a beta of 0.72. The company has a 50-day moving average of $52.34 and a 200-day moving average of $54.41. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.16 and a current ratio of 1.34. Tractor Supply Company has a 1-year low of $46.85 and a 1-year high of $63.99.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Thursday, January 29th. The specialty retailer reported $0.43 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.03). The company had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $4.03 billion. Tractor Supply had a return on equity of 44.36% and a net margin of 7.06%.The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.44 EPS. Equities analysts expect that Tractor Supply Company will post 2.17 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Tuesday, February 24th. This represents a $0.96 dividend on an annualized basis and a yield of 1.9%. This is a boost from Tractor Supply’s previous quarterly dividend of $0.23. Tractor Supply’s dividend payout ratio (DPR) is 46.38%.

Insider Activity at Tractor Supply

In related news, EVP Jonathan S. Estep sold 59,745 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $54.03, for a total transaction of $3,228,022.35. Following the sale, the executive vice president directly owned 80,931 shares of the company’s stock, valued at approximately $4,372,701.93. This represents a 42.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Robert D. Mills sold 62,950 shares of the firm’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $54.12, for a total value of $3,406,854.00. Following the transaction, the executive vice president owned 122,834 shares in the company, valued at $6,647,776.08. This trade represents a 33.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 222,348 shares of company stock worth $11,959,621 over the last quarter. 0.65% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

TSCO has been the subject of several recent analyst reports. Morgan Stanley lowered their target price on Tractor Supply from $60.00 to $57.00 and set an “equal weight” rating for the company in a research note on Friday, January 30th. Wolfe Research reiterated an “outperform” rating and issued a $57.00 price target on shares of Tractor Supply in a research note on Friday, January 30th. Citigroup reissued a “buy” rating and issued a $61.00 price target (down from $66.00) on shares of Tractor Supply in a report on Friday, January 16th. Evercore restated an “outperform” rating and set a $60.00 price objective on shares of Tractor Supply in a report on Friday, January 30th. Finally, Stephens set a $53.00 target price on Tractor Supply and gave the company an “equal weight” rating in a research report on Thursday, January 22nd. Fifteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $59.78.

Tractor Supply Company Profile

Tractor Supply Company (NASDAQ: TSCO) is a specialty retailer focused on products for the home, farm, ranch and outdoors. The company operates a network of physical retail locations complemented by an e-commerce platform, offering a one-stop source of supplies and equipment for customers with rural and suburban lifestyles. Its merchandise assortment targets a range of needs, from animal and livestock care to maintenance, outdoor power equipment, and seasonal products.

Product categories include animal feed and supplies, pet products, fencing and fencing supplies, equine equipment, lawn and garden tools, work clothing and footwear, and small agricultural and outdoor power equipment.