Magnetar Financial LLC Invests $2.83 Million in Tractor Supply Company $TSCO

Magnetar Financial LLC purchased a new stake in Tractor Supply Company (NASDAQ:TSCO) in the 3rd quarter, Holdings Channel.com reports. The firm purchased 49,737 shares of the specialty retailer’s stock, valued at approximately $2,829,000.

A number of other institutional investors have also modified their holdings of the business. Delos Wealth Advisors LLC acquired a new stake in Tractor Supply during the second quarter worth about $26,000. Financial Gravity Companies Inc. bought a new position in Tractor Supply in the second quarter worth about $38,000. Clayton Financial Group LLC acquired a new position in Tractor Supply in the third quarter valued at approximately $44,000. First Horizon Corp acquired a new position in Tractor Supply in the third quarter valued at approximately $44,000. Finally, Evelyn Partners Asset Management Ltd bought a new position in shares of Tractor Supply during the second quarter valued at approximately $46,000. Institutional investors own 98.72% of the company’s stock.

Insider Activity at Tractor Supply

In related news, EVP Robert D. Mills sold 62,950 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $54.12, for a total value of $3,406,854.00. Following the completion of the sale, the executive vice president owned 122,834 shares of the company’s stock, valued at $6,647,776.08. This represents a 33.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Kurt D. Barton sold 1,929 shares of the stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $53.94, for a total transaction of $104,050.26. Following the completion of the transaction, the chief financial officer owned 44,736 shares of the company’s stock, valued at $2,413,059.84. This represents a 4.13% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 222,348 shares of company stock valued at $11,959,621. 0.65% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Wolfe Research reiterated an “outperform” rating and set a $57.00 price target on shares of Tractor Supply in a research report on Friday, January 30th. Stephens set a $53.00 price objective on Tractor Supply and gave the company an “equal weight” rating in a research report on Thursday, January 22nd. TD Cowen lowered their price objective on Tractor Supply from $55.00 to $53.00 and set a “hold” rating for the company in a research note on Friday, January 30th. Mizuho dropped their target price on Tractor Supply from $65.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, January 30th. Finally, Piper Sandler cut their target price on Tractor Supply from $67.00 to $59.00 and set an “overweight” rating on the stock in a research note on Friday, January 30th. Fifteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $59.78.

Tractor Supply Stock Performance

Shares of NASDAQ TSCO opened at $49.47 on Thursday. The company has a current ratio of 1.34, a quick ratio of 0.16 and a debt-to-equity ratio of 0.70. The stock has a 50 day simple moving average of $52.34 and a 200-day simple moving average of $54.41. The company has a market cap of $26.04 billion, a PE ratio of 23.90, a P/E/G ratio of 2.52 and a beta of 0.72. Tractor Supply Company has a 12-month low of $46.85 and a 12-month high of $63.99.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings data on Thursday, January 29th. The specialty retailer reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.03). Tractor Supply had a return on equity of 44.36% and a net margin of 7.06%.The business had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $4.03 billion. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company earned $0.44 earnings per share. On average, equities research analysts forecast that Tractor Supply Company will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th were paid a $0.24 dividend. The ex-dividend date of this dividend was Tuesday, February 24th. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 1.9%. Tractor Supply’s dividend payout ratio (DPR) is currently 46.38%.

Tractor Supply 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.