Fulton Bank N.A. decreased its stake in Tractor Supply (NASDAQ:TSCO – Get Rating) by 6.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,634 shares of the specialty retailer’s stock after selling 116 shares during the period. Fulton Bank N.A.’s holdings in Tractor Supply were worth $316,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently made changes to their positions in TSCO. Advisor Resource Council acquired a new stake in shares of Tractor Supply in the fourth quarter valued at about $221,000. Ensign Peak Advisors Inc increased its stake in shares of Tractor Supply by 292.9% in the fourth quarter. Ensign Peak Advisors Inc now owns 49,559 shares of the specialty retailer’s stock valued at $11,825,000 after buying an additional 36,945 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Tractor Supply by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 546,619 shares of the specialty retailer’s stock valued at $130,424,000 after buying an additional 8,823 shares during the period. Renaissance Technologies LLC increased its stake in shares of Tractor Supply by 1,043.2% in the fourth quarter. Renaissance Technologies LLC now owns 118,893 shares of the specialty retailer’s stock valued at $28,368,000 after buying an additional 108,493 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its stake in shares of Tractor Supply by 2.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 2,301 shares of the specialty retailer’s stock valued at $549,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 82.86% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on TSCO shares. Guggenheim decreased their price target on Tractor Supply to $225.00 in a research note on Friday, July 22nd. Piper Sandler set a $253.00 target price on Tractor Supply in a research note on Tuesday, July 19th. Morgan Stanley raised their target price on Tractor Supply from $220.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 18th. Bank of America raised Tractor Supply from a “neutral” rating to a “buy” rating and raised their target price for the stock from $250.00 to $260.00 in a research note on Tuesday, June 14th. Finally, Truist Financial raised their target price on Tractor Supply from $246.00 to $252.00 and gave the stock a “buy” rating in a research note on Friday, July 22nd. Six 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 stock. According to MarketBeat.com, the company currently has an average 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 posted its earnings results on Thursday, July 21st. The specialty retailer reported $3.53 earnings per share for the quarter, beating analysts’ consensus estimates of $3.51 by $0.02. Tractor Supply had a return on equity of 53.29% and a net margin of 7.76%. The company had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same quarter last year, the company earned $3.19 earnings per share. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. Sell-side analysts expect that Tractor Supply will post 9.58 EPS for the current fiscal year.
Tractor Supply Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 7th. Investors of record on Monday, August 22nd were issued a dividend of $0.92 per share. The ex-dividend date was Friday, August 19th. This represents a $3.68 dividend on an annualized basis and a yield of 1.94%. Tractor Supply’s dividend payout ratio (DPR) is currently 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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