Candlestick Capital Management LP Buys New Holdings in Tractor Supply Company $TSCO

Candlestick Capital Management LP purchased a new position in Tractor Supply Company (NASDAQ:TSCO) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 919,039 shares of the specialty retailer’s stock, valued at approximately $52,266,000. Tractor Supply comprises about 1.3% of Candlestick Capital Management LP’s portfolio, making the stock its 28th biggest position. Candlestick Capital Management LP owned approximately 0.17% of Tractor Supply as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Delos Wealth Advisors LLC purchased a new stake in shares of Tractor Supply during the 2nd quarter worth $26,000. Financial Gravity Companies Inc. purchased a new stake in Tractor Supply during the 2nd quarter worth about $38,000. Clayton Financial Group LLC acquired a new position in shares of Tractor Supply during the 3rd quarter worth about $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 acquired a new position in shares of Tractor Supply in the 2nd quarter valued at $46,000. 98.72% of the stock is owned by hedge funds and other institutional investors.

Tractor Supply Stock Performance

TSCO opened at $47.24 on Friday. Tractor Supply Company has a 1-year low of $46.85 and a 1-year high of $63.99. The stock has a market cap of $24.86 billion, a P/E ratio of 22.82, a P/E/G ratio of 2.37 and a beta of 0.72. The stock’s 50 day simple moving average is $52.23 and its 200 day simple moving average is $54.21. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.34 and a quick ratio of 0.16.

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 the consensus estimate of $0.46 by ($0.03). The firm had revenue of $3.90 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.44 earnings per share. As a group, equities analysts anticipate that Tractor Supply Company will post 2.17 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th were paid a dividend of $0.24 per share. This is a boost from Tractor Supply’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Tuesday, February 24th. This represents a $0.96 annualized dividend and a dividend yield of 2.0%. Tractor Supply’s dividend payout ratio is presently 46.38%.

Insiders Place Their Bets

In other Tractor Supply news, EVP Jonathan S. Estep sold 59,745 shares of Tractor Supply stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $54.03, for a total transaction of $3,228,022.35. Following the completion of the transaction, the executive vice president owned 80,931 shares in the company, valued at approximately $4,372,701.93. The trade was a 42.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Colin Yankee sold 11,170 shares of the company’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $55.35, for a total transaction of $618,259.50. Following the completion of the sale, the executive vice president directly owned 45,515 shares in the company, valued at $2,519,255.25. This trade represents a 19.71% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 222,348 shares of company stock worth $11,959,621. 0.65% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Evercore restated an “outperform” rating and set a $60.00 target price on shares of Tractor Supply in a research report on Friday, January 30th. Wall Street Zen downgraded Tractor Supply from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. Truist Financial set a $55.00 price target on Tractor Supply and gave the company a “hold” rating in a research note on Friday, January 16th. Morgan Stanley dropped their price objective on Tractor Supply from $60.00 to $57.00 and set an “equal weight” rating on the stock in a report on Friday, January 30th. Finally, Mizuho cut their price objective on Tractor Supply from $65.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, January 30th. Fifteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Tractor Supply presently has a consensus rating of “Moderate Buy” and an average target price of $59.78.

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.