Worldquant Millennium Advisors LLC Invests $5.54 Million in Tractor Supply (NASDAQ:TSCO)

Worldquant Millennium Advisors LLC acquired a new stake in Tractor Supply (NASDAQ:TSCO) during the 4th quarter, Holdings Channel.com reports. The firm acquired 104,446 shares of the specialty retailer’s stock, valued at approximately $5,542,000.

Several other large investors have also bought and sold shares of the business. FORA Capital LLC raised its holdings in Tractor Supply by 434.1% in the fourth quarter. FORA Capital LLC now owns 35,526 shares of the specialty retailer’s stock worth $1,885,000 after purchasing an additional 28,875 shares during the period. CIBC Private Wealth Group LLC raised its holdings in Tractor Supply by 385.8% in 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 purchasing an additional 865,273 shares during the period. BOK Financial Private Wealth Inc. raised its holdings in Tractor Supply by 330.2% in the fourth quarter. BOK Financial Private Wealth Inc. now owns 21,355 shares of the specialty retailer’s stock worth $1,133,000 after purchasing an additional 16,391 shares during the period. Gen Wealth Partners Inc raised its holdings in Tractor Supply by 513.8% in the fourth quarter. Gen Wealth Partners Inc now owns 14,320 shares of the specialty retailer’s stock worth $760,000 after purchasing an additional 11,987 shares during the period. Finally, Blueshift Asset Management LLC raised 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 worth $3,545,000 after purchasing an additional 56,870 shares during the period. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Tractor Supply Stock Down 3.0%

Tractor Supply stock opened at $50.04 on Thursday. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. Tractor Supply has a 1-year low of $46.85 and a 1-year high of $61.53. The company has a fifty day simple moving average of $51.62 and a 200 day simple moving average of $54.04. The company has a market cap of $26.53 billion, a P/E ratio of 24.53, a price-to-earnings-growth ratio of 2.95 and a beta of 0.82.

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). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. The business had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.55 billion. During the same quarter in the previous year, the firm posted $1.83 earnings per share. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. Research analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

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

Tractor Supply Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th will be paid a $0.23 dividend. The ex-dividend date is Wednesday, May 28th. This represents a $0.92 annualized dividend and a yield of 1.84%. Tractor Supply’s payout ratio is currently 45.77%.

Insider Buying and Selling at Tractor Supply

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

Wall Street Analysts Forecast Growth

TSCO has been the topic of several analyst reports. UBS Group set a $54.00 target price on shares of Tractor Supply in a report on Friday, April 25th. Robert W. Baird cut their target price on shares of Tractor Supply from $63.00 to $56.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Telsey Advisory Group set a $60.00 target price on shares of Tractor Supply in a report on Friday, April 25th. Guggenheim cut their target price on shares of Tractor Supply from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Finally, Mizuho cut their target price 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 research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tractor Supply has an average rating of “Moderate Buy” and an average target price of $58.02.

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.