AdvisorNet Financial Inc cut its stake in shares of Tractor Supply (NASDAQ:TSCO – Get Rating) by 7.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,109 shares of the specialty retailer’s stock after selling 181 shares during the period. AdvisorNet Financial Inc’s holdings in Tractor Supply were worth $409,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Tractor Supply by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 12,833,541 shares of the specialty retailer’s stock valued at $2,994,964,000 after acquiring an additional 46,672 shares during the last quarter. BlackRock Inc. increased its position in Tractor Supply by 0.9% during the 1st quarter. BlackRock Inc. now owns 11,113,461 shares of the specialty retailer’s stock worth $2,593,549,000 after purchasing an additional 102,904 shares during the period. State Street Corp increased its position in Tractor Supply by 3.5% during the 4th quarter. State Street Corp now owns 4,982,370 shares of the specialty retailer’s stock worth $1,188,793,000 after purchasing an additional 170,276 shares during the period. Geode Capital Management LLC increased its position in Tractor Supply by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 2,159,527 shares of the specialty retailer’s stock worth $514,039,000 after purchasing an additional 58,409 shares during the period. Finally, Invesco Ltd. increased its position in Tractor Supply by 18.5% during the 1st quarter. Invesco Ltd. now owns 2,069,196 shares of the specialty retailer’s stock worth $482,889,000 after purchasing an additional 322,567 shares during the period. 82.86% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities analysts have issued reports on TSCO shares. Morgan Stanley boosted their target price on Tractor Supply from $220.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 18th. The Goldman Sachs Group dropped their price objective on Tractor Supply from $260.00 to $207.00 and set a “buy” rating for the company in a research note on Monday, June 27th. Guggenheim decreased their target price on Tractor Supply to $225.00 in a research report on Friday, July 22nd. Piper Sandler set a $253.00 target price on Tractor Supply in a report on Tuesday, July 19th. Finally, MKM Partners started coverage on Tractor Supply in a report on Thursday, July 28th. They issued a “buy” rating and a $230.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $240.79.
Tractor Supply Stock Up 1.1 %
Tractor Supply (NASDAQ:TSCO – Get Rating) last released its earnings results on Thursday, July 21st. The specialty retailer reported $3.53 earnings per share for the quarter, topping the consensus estimate of $3.51 by $0.02. Tractor Supply had a return on equity of 53.29% and a net margin of 7.76%. The firm had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the prior year, the business posted $3.19 earnings per share. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Tractor Supply will post 9.58 EPS for the current fiscal year.
Tractor Supply Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 7th. Investors 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 yield of 1.94%. Tractor Supply’s dividend payout ratio (DPR) is presently 40.62%.
About Tractor Supply
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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