What Makes Tractor Supply Company (TSCO) a Worthy Investment?

TimesSquare Capital Management, an equity investment management company, released its “U.S. Mid Cap Growth Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy returned 4.18% (net), compared to 6.90% for the Russell Midcap Growth Index. For the calendar year, the strategy returned -22.13% (net) compared to the benchmark’s return of -26.72%. Weakness in Consumer Staples, Energy, Health Care, Information Technology, and Real Estate holdings led to the underperformance of the portfolio in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

TimesSquare U.S. Mid Cap Growth Strategy highlighted stocks like Tractor Supply Company (NASDAQ:TSCO) in the Q4 2022 investor letter. Headquartered in Brentwood, Tennessee, Tractor Supply Company (NASDAQ:TSCO) is a lifestyle retailer. On March 31, 2023, Tractor Supply Company (NASDAQ:TSCO) stock closed at $235.04 per share. One-month return of Tractor Supply Company (NASDAQ:TSCO) was 2.78%, and its shares gained 3.23% of their value over the last 52 weeks. Tractor Supply Company (NASDAQ:TSCO) has a market capitalization of $25.83 billion.

TimesSquare U.S. Mid Cap Growth Strategy made the following comment about Tractor Supply Company (NASDAQ:TSCO) in its Q4 2022 investor letter:

”A new addition to the sector this quarter was Tractor Supply Company (NASDAQ:TSCO), a retailer of farm and ranch products. We view this company as a best-in-class operator with consistent, multi-year growth. Many of its products are consumables. There has been a population shift to more rural areas. Tractor Supply’s Neighbor’s Club customer loyalty program now boasts 28 million members, with many upgrading to higher level tiers.”

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Tractor Supply Company (NASDAQ:TSCO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 49 hedge fund portfolios held Tractor Supply Company (NASDAQ:TSCO) at the end of the fourth quarter which was 37 in the previous quarter.

We discussed Tractor Supply Company (NASDAQ:TSCO) in another article and shared Wedgewood Partners’ views on the company. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.