Semanteon Capital Management LP Invests $976,000 in Tractor Supply (NASDAQ:TSCO)

Semanteon Capital Management LP bought a new position in shares of Tractor Supply (NASDAQ:TSCO) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 18,398 shares of the specialty retailer’s stock, valued at approximately $976,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. GSA Capital Partners LLP acquired a new position in shares of Tractor Supply during the 3rd quarter worth approximately $474,000. MAI Capital Management boosted its stake in Tractor Supply by 1.8% in the third quarter. MAI Capital Management now owns 6,139 shares of the specialty retailer’s stock valued at $1,786,000 after buying an additional 108 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Tractor Supply in the third quarter valued at about $3,866,000. Strategy Asset Managers LLC raised its stake in Tractor Supply by 5.4% during the third quarter. Strategy Asset Managers LLC now owns 1,198 shares of the specialty retailer’s stock worth $348,000 after acquiring an additional 61 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Tractor Supply by 1,674.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 18,492 shares of the specialty retailer’s stock valued at $5,380,000 after purchasing an additional 17,450 shares in the last quarter. 98.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TSCO has been the subject of a number of research reports. Bank of America increased their price target on Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a research note on Thursday, January 16th. Barclays dropped their price target on shares of Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Monday, December 30th. Loop Capital increased their price objective on shares of Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a research report on Thursday, December 12th. Telsey Advisory Group reiterated an “outperform” rating and set a $67.00 price target on shares of Tractor Supply in a report on Thursday, January 30th. Finally, Wells Fargo & Company dropped their price objective on Tractor Supply from $65.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $59.22.

Tractor Supply Trading Down 1.8 %

NASDAQ:TSCO opened at $51.84 on Friday. Tractor Supply has a one year low of $48.30 and a one year high of $61.53. The company has a market cap of $27.68 billion, a PE ratio of 25.41, a PEG ratio of 2.95 and a beta of 0.85. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. The firm has a 50-day moving average of $55.07 and a 200-day moving average of $55.67.

Tractor Supply (NASDAQ:TSCO) last posted its earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.28 by ($1.84). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. As a group, equities research analysts expect that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were issued a dividend of $0.92 per share. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a yield of 7.10%. Tractor Supply’s dividend payout ratio is 45.10%.

Tractor Supply declared that its Board of Directors has authorized a share repurchase program on Thursday, February 13th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the specialty retailer to purchase up to 3.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, EVP Melissa Kersey sold 9,300 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 34,961 shares in the company, valued at approximately $1,858,876.37. This trade represents a 21.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Colin Yankee sold 24,602 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $54.15, for a total transaction of $1,332,198.30. Following the transaction, the executive vice president now directly owns 33,645 shares of the company’s stock, valued at approximately $1,821,876.75. This represents a 42.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 137,993 shares of company stock worth $7,538,068 in the last quarter. 0.24% of the stock is owned by company insiders.

Tractor Supply Company 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.