Van ECK Associates Corp Increases Stock Position in Tractor Supply (NASDAQ:TSCO)

Van ECK Associates Corp increased its holdings in shares of Tractor Supply (NASDAQ:TSCOFree Report) by 5.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 35,768 shares of the specialty retailer’s stock after buying an additional 1,894 shares during the period. Van ECK Associates Corp’s holdings in Tractor Supply were worth $7,262,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of TSCO. Koshinski Asset Management Inc. grew its position in Tractor Supply by 2.4% in the 2nd quarter. Koshinski Asset Management Inc. now owns 1,904 shares of the specialty retailer’s stock worth $421,000 after purchasing an additional 45 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in Tractor Supply by 17.6% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 327 shares of the specialty retailer’s stock worth $72,000 after purchasing an additional 49 shares during the last quarter. Heartland Bank & Trust Co grew its position in Tractor Supply by 1.7% in the 3rd quarter. Heartland Bank & Trust Co now owns 3,038 shares of the specialty retailer’s stock worth $617,000 after purchasing an additional 52 shares during the last quarter. Allen Capital Group LLC grew its position in Tractor Supply by 0.6% in the 3rd quarter. Allen Capital Group LLC now owns 8,869 shares of the specialty retailer’s stock worth $1,805,000 after purchasing an additional 53 shares during the last quarter. Finally, Taylor Frigon Capital Management LLC grew its position in Tractor Supply by 0.8% in the 3rd quarter. Taylor Frigon Capital Management LLC now owns 6,762 shares of the specialty retailer’s stock worth $1,373,000 after purchasing an additional 55 shares during the last quarter. Institutional investors and hedge funds own 90.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on TSCO shares. JPMorgan Chase & Co. decreased their target price on shares of Tractor Supply from $218.00 to $208.00 and set a “neutral” rating for the company in a research report on Wednesday, October 18th. Stephens cut shares of Tractor Supply from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $226.00 to $240.00 in a report on Tuesday, January 23rd. Morgan Stanley reiterated an “underweight” rating and issued a $195.00 price objective on shares of Tractor Supply in a report on Tuesday, January 16th. Truist Financial increased their price objective on shares of Tractor Supply from $230.00 to $256.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, The Goldman Sachs Group increased their price objective on shares of Tractor Supply from $230.00 to $262.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $237.40.

View Our Latest Stock Analysis on TSCO

Tractor Supply Stock Up 1.4 %

Shares of NASDAQ:TSCO opened at $235.08 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.28 and a current ratio of 1.50. The company has a market cap of $25.41 billion, a PE ratio of 23.30, a price-to-earnings-growth ratio of 3.54 and a beta of 0.83. Tractor Supply has a 52 week low of $185.00 and a 52 week high of $251.17. The firm has a 50 day simple moving average of $221.03 and a 200 day simple moving average of $212.99.

Tractor Supply (NASDAQ:TSCOGet Free Report) last issued its earnings results on Thursday, February 1st. The specialty retailer reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.06. The company had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.67 billion. Tractor Supply had a net margin of 7.61% and a return on equity of 53.60%. The company’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same quarter last year, the business posted $2.43 EPS. As a group, research analysts expect that Tractor Supply will post 10.18 earnings per share for the current year.

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th will be paid a dividend of $1.10 per share. The ex-dividend date is Friday, February 23rd. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.87%. This is a positive change from Tractor Supply’s previous quarterly dividend of $1.03. Tractor Supply’s dividend payout ratio (DPR) is 40.83%.

About Tractor Supply

(Free Report)

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.

See Also

Want to see what other hedge funds are holding TSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tractor Supply (NASDAQ:TSCOFree Report).

Institutional Ownership by Quarter for Tractor Supply (NASDAQ:TSCO)

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