Advisory Services Network LLC decreased its stake in Tractor Supply (NASDAQ:TSCO – Get Rating) by 9.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,785 shares of the specialty retailer’s stock after selling 1,003 shares during the period. Advisory Services Network LLC’s holdings in Tractor Supply were worth $2,283,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Aurora Investment Counsel bought a new position in Tractor Supply in the first quarter worth $1,519,000. Castellan Group bought a new position in Tractor Supply in the first quarter worth $3,406,000. Resources Management Corp CT ADV lifted its position in Tractor Supply by 1.2% in the first quarter. Resources Management Corp CT ADV now owns 14,580 shares of the specialty retailer’s stock worth $3,403,000 after purchasing an additional 178 shares during the period. BNP Paribas Arbitrage SA lifted its position in Tractor Supply by 9.7% in the first quarter. BNP Paribas Arbitrage SA now owns 70,025 shares of the specialty retailer’s stock worth $16,342,000 after purchasing an additional 6,201 shares during the period. Finally, Wealthfront Advisers LLC lifted its position in Tractor Supply by 97.7% in the first quarter. Wealthfront Advisers LLC now owns 26,779 shares of the specialty retailer’s stock worth $6,250,000 after purchasing an additional 13,235 shares during the period. Institutional investors and hedge funds own 82.86% of the company’s stock.
Analysts Set New Price Targets
Several research analysts recently commented on TSCO shares. Piper Sandler set a $253.00 target price on Tractor Supply in a research report on Tuesday, July 19th. Bank of America raised Tractor Supply from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $250.00 to $260.00 in a report on Tuesday, June 14th. Guggenheim cut their price objective on Tractor Supply to $225.00 in a report on Friday, July 22nd. Truist Financial lifted their price objective on Tractor Supply from $246.00 to $252.00 and gave the company a “buy” rating in a report on Friday, July 22nd. Finally, The Goldman Sachs Group cut their price objective on Tractor Supply from $260.00 to $207.00 and set a “buy” rating for the company in a report on Monday, June 27th. Six research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Tractor Supply currently has a consensus rating of “Moderate Buy” and a consensus target price of $240.79.
Tractor Supply Price Performance
Tractor Supply (NASDAQ:TSCO – Get Rating) last posted its earnings results on Thursday, July 21st. The specialty retailer reported $3.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.02. The company had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.89 billion. Tractor Supply had a return on equity of 53.29% and a net margin of 7.76%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company earned $3.19 EPS. Research analysts expect that Tractor Supply will post 9.58 EPS for the current year.
Tractor Supply Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 7th. Stockholders of record on Monday, August 22nd were given a dividend of $0.92 per share. The ex-dividend date of this dividend was Friday, August 19th. This represents a $3.68 annualized dividend and a dividend yield of 1.94%. Tractor Supply’s payout ratio is currently 40.62%.
Tractor Supply Company Profile
Tractor Supply Company operates as a rural lifestyle retailer in the United States. The company offers a selection of merchandise, including equine, livestock, pet, and small animal products necessary for their health, care, growth, and containment; hardware, truck, towing, and tool products; seasonal products, such as heating products, lawn and garden items, power equipment, gifts, and toys; work/recreational clothing and footwear; and maintenance products for agricultural and rural use.
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