Jacobi Capital Management LLC acquired a new stake in shares of Tractor Supply (NASDAQ:TSCO – Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 909 shares of the specialty retailer’s stock, valued at approximately $201,000.
Other hedge funds have also made changes to their positions in the company. Synovus Financial Corp grew its position in Tractor Supply by 1.9% in the first quarter. Synovus Financial Corp now owns 5,006 shares of the specialty retailer’s stock worth $1,166,000 after buying an additional 93 shares during the last quarter. Cibc World Market Inc. grew its position in Tractor Supply by 10.4% in the first quarter. Cibc World Market Inc. now owns 12,622 shares of the specialty retailer’s stock worth $2,946,000 after buying an additional 1,186 shares during the last quarter. Sei Investments Co. grew its position in Tractor Supply by 12.1% in the first quarter. Sei Investments Co. now owns 75,163 shares of the specialty retailer’s stock worth $17,565,000 after buying an additional 8,129 shares during the last quarter. Prudential PLC acquired a new position in Tractor Supply in the first quarter worth approximately $611,000. Finally, Cetera Investment Advisers grew its position in Tractor Supply by 15.8% in the first quarter. Cetera Investment Advisers now owns 6,238 shares of the specialty retailer’s stock worth $1,456,000 after buying an additional 849 shares during the last quarter. Institutional investors and hedge funds own 90.38% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have issued reports on TSCO. Citigroup decreased their price target on shares of Tractor Supply from $207.00 to $195.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 1st. Raymond James decreased their price target on shares of Tractor Supply from $255.00 to $235.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, October 10th. Piper Sandler decreased their price target on shares of Tractor Supply from $262.00 to $256.00 and set an “overweight” rating on the stock in a research report on Friday, July 28th. Benchmark reaffirmed a “buy” rating and issued a $256.00 price objective on shares of Tractor Supply in a research note on Monday, July 24th. Finally, Gordon Haskett lowered shares of Tractor Supply from a “buy” rating to an “accumulate” rating and set a $215.00 price objective for the company. in a research note on Wednesday, September 27th. Eleven equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $234.42.
Tractor Supply Stock Up 1.8 %
Tractor Supply stock opened at $198.54 on Friday. The company has a market capitalization of $21.60 billion, a P/E ratio of 19.39, a P/E/G ratio of 2.88 and a beta of 0.85. The firm’s fifty day simple moving average is $204.17 and its 200-day simple moving average is $215.69. The company has a current ratio of 1.52, a quick ratio of 0.30 and a debt-to-equity ratio of 0.83. Tractor Supply has a 1-year low of $185.00 and a 1-year high of $251.17.
Tractor Supply Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Monday, November 27th will be issued a dividend of $1.03 per share. The ex-dividend date is Friday, November 24th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.08%. Tractor Supply’s dividend payout ratio is currently 40.23%.
In other news, CFO Kurt D. Barton sold 7,487 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $222.43, for a total transaction of $1,665,333.41. Following the transaction, the chief financial officer now owns 19,574 shares in the company, valued at approximately $4,353,844.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is owned by insiders.
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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